1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ASHA 777 [7]
3 years ago
8

Mike, a minor, buys some real estate as an investment. The contract obligates Mike to make monthly installment payments for 10 y

ears. Mike reaches the age of majority one month after making the contract. After this, Mike makes 25 monthly payments under the contract, but then decides that he wants to rescind the deal. Which of the following is most true?A. Mike can dis-affirm.B. Mike cannot dis-affirm because contracts for the sale of land can only be dis-affirmed before the age of majority.C. Mike cannot dis-affirm because contracts for the sale of land must be dis-affirmed within one year of the age of majority.D. Mike cannot dis-affirm because he has already ratified the contract.
Business
1 answer:
yawa3891 [41]3 years ago
5 0

Answer: d. mike cannot disaffirm because he has already ratified the contract

Explanation:

When signing deals it's important to consider long term, this helps to make the best decision in any and most scenario. Most deals signed too cannot be reversed or change or adjusted because it'll affect the policy of the organization and won't be health for them. Mike has agreed to buy a property through a spread payment plan, changing the deal now after some years will not be possible as it distorts the plan intially agreed and goes against the policy of the organization selling the home.

You might be interested in
.Cantlivia is a small and poor nation, but its current prime minister has a desire to create more wealth for her citizens. The p
makkiz [27]
<h2>Establish a business environment that promotes and rewards is the choice which the Prime Minister likely to choose.</h2>

Explanation:

The motto here is to increase the wealth of the country.

Option 1: Invading other countries is unethical and also, it cannot assure that, Cantlivia will improve. The reason is the country which the option says is poorer than Cantlivia, so point of growth could be seen.

Option 2: Already the country economy is down, so purchasing new tools is not possible hence this option is invalid.

Option 3: We can increase wealth only by creating business and creating entrepreneurs. So this is the right choice.

Option 4: Creating a barrier will actually slow down wealth. So this option is not right.

4 0
3 years ago
Weiland Co. shows the following information on its 2019 income statement: sales = $162,500; costs = $80,000; other expenses = $3
MrMuchimi

Answer:

a. 2019 Operating cash flow

Welland Co. Operating Cash Flow for 2019

Particular                              Amount $

Sales                                            162500

Cost of goods sold    80000

Other Expenses         3300

Depreciation               9000         <u>92,300</u>

EBIT                                               70200

Less: Taxes                                   22295

Add :Depreciation                         <u>9000</u>

Operating Cash Flow                 $<u>56905</u>

b. Cash flow to creditors

Interest paid                    6500

Add: Loan raised             <u>7700</u>

Cash flow to creditors      <u>14200</u>

c. Cash flow to Stockholders

Dividends Paid                         8150

Less: Net Equity Raised          <u>4500</u>

Cash flow to Stockholders   <u>$3650</u>

d. Change in Net working Capital = Change in Current Assets - Change in  Liabilities

Figures for Current Asset was not given, rather the Net Fixed asset is given $21,100 which is not a current asset.

6 0
3 years ago
Which of the following assets must be reported at the​ lower-of-cost-or-market value? A. Merchandise Inventory B. Accounts Recei
neonofarm [45]

Answer:

The correct answer is letter "A": Merchandise Inventory.

Explanation:

Lower-of-cost-or-market value is a strategy by which the costs of inventory on the company's Balance Sheet is reported at historical value -purchase cost- or market value, whatever it is lower. The lower-of-cost-or-market approach considers the value of inventory can change, meaning it can increase but it can decrease as well. For both purposes, the lower-of-cost-or-market value can be used. This technique follows the Generally Accepted Accounting Principles (GAAP).

Therefore, <em>merchandise inventory, which can fluctuate in price during a period, is reported using the lower-of-cost-or-market value method.</em>

6 0
3 years ago
When making a product line decision, a company may focus on lost contribution margin and avoidable fixed costs or prepare compar
12345 [234]

A company may focus on lost contribution margin or prepare comparative income statement when making a product line decision

<h3>What is income statement?</h3>

An income statement can be regarded as financial statement which helps to display company's income and expenditures.

It is a financial statement that shows you the company's income and expenditures. It also shows whether a company is making profit or loss.

Hence, when making a product line decision, a company may focus on lost contribution margin and avoidable fixed costs or prepare comparative income statement.

Learn more about income statement here : brainly.com/question/21851842

7 0
2 years ago
Using the following routing information and a From-To Chart, determine the total flow efficiency of the parts assuming an alphab
frosja888 [35]

Answer:

hello your question is incomplete attached below is the complete question

answer: 28.12%

Explanation:

The first table is the allotting of relative weighted value in from to chart and also finding the Total.

The second table is found by multiplying 1-times cell distance in the upper 2-times with cell distance in lower triangular values.

Hence Flow efficiency = (Total / penalty ) * 100

                         = ( 36 / 128 ) * 100 = 28.12%

7 0
3 years ago
Other questions:
  • At the beginning of Year 2 , Benson Company had beginning inventory of 150 units that cost $200 each. During Year 2, Benson made
    12·1 answer
  • Which luxury brand shares its name with the french explorer who is credited with naming canada?
    11·1 answer
  • The effort used to coordinate the factors of production is a description of:_______
    10·1 answer
  • You have a sub-contracting job with a local manufacturing firm. your agreement calls for 5 annual end-of-year payments of $50,00
    13·1 answer
  • What determines how a change in prices will affect total revenue for a company?
    13·1 answer
  • The primary advantages of the average rate of return method are its ease of computation and the fact that a.rankings of proposal
    10·1 answer
  • The following account balances were taken from the 2009 post-closing trial balance of the Bowler Corporation: cash, $5,000; acco
    11·1 answer
  • The actual cost of direct materials is​ $47.50 per pound. The standard cost per pound is​ $51.75. During the current​ period, 7,
    9·1 answer
  • Si se tiene un activo de Q50,000.00 menos un patrimonio de
    13·1 answer
  • Presented below are various receivable transactions entered into by Beran Tool Company. Indicate whether the receivables are rep
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!