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shepuryov [24]
3 years ago
12

Amy, a baker, has found her dream home, but cannot afford the down payment. Amy’s brother agrees to loan her $3000 for the down

payment, and Amy agrees to pay him back in one year. Next year, Amy offers to bake her brother’s wedding cake for his wedding next month instead of paying back the loan, so that she can buy new equipment for her bakery. Amy’s brother agrees and accepts the cake. How much money does Amy now owe her brother? $3000, because agreements to accept less than full payment of liquidated debt are non-binding. $3000 less the cost of the wedding cake, because agreements to accept less than full payment of liquidated debt are non-binding. $0 because an agreement to accept different performance in lieu of full payment of liquidated debt is binding. $3000.
Business
1 answer:
Kitty [74]3 years ago
4 0

Answer:

$0 because an agreement to accept different performance in lieu of full payment of liquidated debt is binding.

Explanation:

Since there is an agreement between Amy, a baker, and her brother, she owes him $0.

At first, Amy gets a loan of $3,000 from her brother to pay for her dream home. She agrees to pay him back in one year, and that agreement was binding. During the time to pay back the loan, Amy offers to bake her brother's wedding cake instead of paying back the loan and her brother accepts. This has presented a new agreement that overrules the previous agreement. Now instead of paying back the $3,000, she would bake a wedding cake for him. This implies that the wedding cake is equal to $3,000.

Therefore, she owes him $0.

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Answer:

The correct answer is a) Constructive resistance.

Explanation:

Constructive Resistance is the ability of structural elements to withstand the efforts to which they are subjected without breaking. It depends on many factors among which the material used, its geometry and the type of union between the elements stand out.

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3 years ago
Micro Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The current year's income state
Alexxx [7]

Answer:

$19,687 million

Explanation:

Income tax expense = Income before income tax expense*Effective tax rate

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3 years ago
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5 0
2 years ago
In the _____ stage of selecting information technology projects, organizations select information technology projects. a. projec
Rainbow [258]

In the <u>Resource Allocation</u> stage of selecting information technology projects, organizations select information technology projects.

Explanation:

The first step of a planning process to align the information technology strategic plan to the organization's overall strategic plan

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So,it is in the <u>Resource Allocation</u> stage of selecting information technology projects, organizations select information technology projects.

3 0
3 years ago
The financial statement that summarizes the profit-generating activities of a company during a particular period of time is the_
BabaBlast [244]

Answer:

Income statement.

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The financial statement that summarizes the profit-generating activities of a company during a particular period of time is the Income statement.

Income statement is one of the most important financial statement used to analyze the financial performance of the company. It show the revenue and expense of the company in the particular period of time. It help the management to understand the profitablity of the company during specified period of time. The other two important financial statement are Balance sheet and statement of cash flow.

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3 years ago
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