Answer:
A) $160,000
Explanation:
To calculate Nichola's accounts receivable at the end of the current business cycle we have to add credit sales during the fifth and sixth months:
accounts receivables = $150,000 + $10,000 = $160,000
The credit sales made during the sixth month should be received during the seventh month and the credit sales made during the fifth month should be paid next year (in 9 months). Since the business cycle is only 6 months long, any credit sale that should be collected beyond the sixth month, should be included under accounts receivables.
Answer:
B) liable to Niki under the doctrine of promissory estoppel.
Explanation:
In contract law, promissory estoppel refers to a theory that when you make a reasonable promise but later you decide to back down, the other party may sue you in order to force you to fulfill your promise.
This theory has been upheld by the Supreme Court in Cohen v. Cowles Media Co. 501 US 663 (1991). So a reasonable promise will have the same binding effect as a contract.
I believe the answer is Consumption
The government regulates anti competitive behavior to promote the welfare of the country's economic system. Before the anti-competitive laws were passed, large monopolies controlled markets and drove up prices and eventually hurt the economy.
Answer:
b. Nina will prefer L to M.
Explanation:
Convex utility of wealth indicates that an individual tends to be comfortable with taking risks.
A concave utility function shows an aversion for risk.
A mean preserving spread occurs when one variable has greater variance than another but they both have the same mean.
In the given scenario prospect L will have a greater variance than prospect M since it is a mean preserving spread.
Given Nina's risk taking preference she will most likely take prospect L that offers more variability over prospect M
