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Rasek [7]
4 years ago
6

Heather innocently misrepresented the status of a puppy as being a full-blooded Pomeranian when actually it was a mixed breed. B

rad had contracted to purchase the dog, but the problem was discovered prior to his paying for the dog and picking it up. Nevertheless, Brad was very angry and felt that Heather should have been more careful. He said that he planned to rescind the contract and also sue her for damages to punish her and deter others from behaving similarly. Which of the following is true regarding the remedies available to Brad ?
Business
1 answer:
IRISSAK [1]4 years ago
5 0

Options:

A. Because Heather violated the contract to provide a full blooded Pomeranian, Brad is entitled to rescind the contract and also to the damages he seeks.

B. Because Heather violated the contract to provide a full blooded Pomeranian, Brad is entitled to rescind the contract, but he is not entitled to the damages he seeks.

C. Because Heather is not guilty of any wrongdoing, Brad is entitled to no remedy; and Heather has an additional 30 days in order to honor the contract.

D. Because Heather is not guilty of any wrongdoing, Brad is entitled to no remedy; and Heather has an additional 60 days in order to honor the contract.

E. Because Heather is not guilty of any wrongdoing, Brad is entitled to no remedy; and Heather has an additional 90 days in order to honor the contract

Answer:

B

Explanation:

Heather's misrepresentation resulted in her breaching the contract, even if she did it innocently or not. But since no transaction was completed, then the contract is simply terminated. If Brad had realized Heather's mistake after he had paid for the dog, then he could argue that he suffered damages and could try to seek some type of compensation but that wasn't the case here.

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Which of the following is especially crucial in the approach stage of the selling​ process?
Rashid [163]

Answer:

(E) ensuring the customer understands the​ company's history.

Explanation:

Approach phase is the third stage of selling process, in this the sales person meets the customer for the first time.

First 2 steps are prospecting and preparation.

Under prospecting the customers are identified who needs the products of the company.

Under preparation the slides are prepared about the company's product, that how it will be presented to the customer.

Under approach stage the salesperson meets the customer, and introduces where he came from, why he came, ad what does the company do.

After that only he further moves to understand and confirm with the estimated needs of customer.

Thus, statement (E) confirms that the customer knows about the company, and why the salesperson is here to meet him.

8 0
3 years ago
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. Cash $ 10,000 Accounts receiva
Lelechka [254]

Answer:

December 31, 2017 Balance Sheet

$10,000 Cash

$9,000 Accounts Receivable

$6,000 Supplies

$25,000  TOTAL CURRENT ASSETS  

$5,000 Equipment

$5,000  TOTAL NONCURRENT ASSETS  

$30,000  TOTAL ASSETS  

$23,000  Accounts Payable  

$23,000  TOTAL CURRENT LIABILITIES  

$23,000  TOTAL LIABILITIES  

$1,000  Retained Earnings  

$6,000  Capital  

$7,000  TOTAL EQUITY  

$30,000  TOTAL EQUITY + LIABILITIES  

Explanation:

December 31, 2017 Balance Sheet

$10,000 Cash

$9,000 Accounts Receivable

$6,000 Supplies

$25,000  TOTAL CURRENT ASSETS  

$5,000 Equipment

$5,000  TOTAL NONCURRENT ASSETS  

$30,000  TOTAL ASSETS  

$23,000  Accounts Payable  

$23,000  TOTAL CURRENT LIABILITIES  

$23,000  TOTAL LIABILITIES  

$1,000  Retained Earnings  

$6,000  Capital  

$7,000  TOTAL EQUITY  

$30,000  TOTAL EQUITY + LIABILITIES  

Income Statement  

Consulting Revenue  $33,000  

Rental Revenue        $22,000  

Salaries Expenses   -$20,000  

Rent Expenses        -$12,000  

Selling and Adm Exp -$8,000  

Income Statement  $15,000  

Retained Earnings Report  

Opening retained earnings $ 0,000

Add: Net Income $ 15,000

Subtotal $ 15,000

Less: Withdrawals -$ 13,000

Less: Investment -$ 1,000

Total $ 1,000

8 0
3 years ago
In January 2021 Vega Corporation purchased a patent at a cost of $200,000. Legal and filing fees of $66,000 were paid to acquire
timama [110]

Answer:

$218,200

Explanation:

The computation of amount charged to income (expense and loss) is shown below:-

Total cost of the patent = $200,000 + $66,000

= $266,000

Amortization expense for 3 years = $266,000 ÷ 10 × 3

= $79,800

Net Patent cost = Total cost of the patent - Amortization expense

= $266,000 - $79,800

= $186,200

The amount charged to income (expense and loss) in 2024 related to the patent = Net Patent cost + Legal fees

= $186,200 + $32,000

= $218,200

8 0
3 years ago
Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales:
Rom4ik [11]

Answer:

The value of cost of goods sold is $2,730 as shown below

Explanation:

The sale of 120 units made on January 17 is valued at $1,080  (120*$9) taking from stock purchased last on January 1

The sale of 160 units on January 29 is valued at $1,650    (150 units*$11) taking the items purchased last on January 20

The cost of goods sold =$1,080+$1,650

Cost of goods sold=$2,730

The value of closing inventory=30*$9+10*$11

                                                   =$270+$110

                                                   =$380

Hence value of costs of good sold is $2,730 while closing inventory is valued at $380

           

7 0
3 years ago
2. How could you assess whether new office designs are improving the organizational culture
juin [17]

Answer:A proper office layout is the key to a high performance office. This means both good performance from your employees but also your business. Companies that have a great culture are highly sought after by prospective employees and can provide a competitive advantage in both hiring and retaining staff.

Explanation:

7 0
2 years ago
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