Answer: Contract is voided
Explanation:
From the question, we are informed that Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who will then makes the pelts into hats to sell.
We are further told that a year into their contract, it becomes illegal to buy or sell beaver pelts in the United States. Based on the scenario explained, the contact will be voided.
A void contract is referred to as a formal agreement that cannot be enforceable and is not legitimate. Since it is illegal to either purchase or sell beaver pelts, it means that the context cannot be carried out anymore and should the be void.
Answer:
c. profit center
Explanation:
Based on the information provided within the question it can be said that the segment is most probably accounted for as a profit center. This is a specialty department formed inside an organization that deals with generating revenues and profits or losses. These departments are completely monitored and controlled since they are the main driving force of the company brand.
The statement that is true of a sole proprietorship is that a) a business operated under a sole proprietorship cannot be transferred.
A proprietorship can legally have the handiest one, proprietor. This is due to the fact the commercial enterprise serves as a part of the enterprise proprietor's private identification and vice versa. If a proprietor wants to expand their business and take delivery of new companions and traders, they would restructure the employer and contain it.
Any individual who wants to start a commercial enterprise with less investment can choose this sort of commercial enterprise form. It is able to be started in a time span of 10-15 days. Additionally, the control within the business is solely for your arms.
The proprietorship has been described because the only enterprise form underneath which you'll be able to perform a commercial enterprise. It isn't a legal entity and definitely refers to a person who owns the commercial enterprise, individually responsible for its debt.
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Answer:
If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that for Jeff, the substitution effect is greater than the income effect - option C.
Explanation:
The substitution effect is stronger than the income effect in a case whereby the supply of labor increases as the wage rate increases .
On the other hand, when the supply of labor decreases as the wage rate increases, then the income effect is stronger than the substitution effect.
With regards to the scenario given in the question - with an increase in the wage rate, Jeff has decided to work more hours.
Thus, in the given case, it can be inferred that for Jeff, the substitution effect is greater than the income effect.
Therefore, the correct answer is option C.
Researching the company beforehand can help you come up with an impressive response to this question while also helping you learn more about why you're interested in this position. When you spend time gathering information about the company, you'll be better prepared to answer this question.
