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MariettaO [177]
3 years ago
13

ack and Jackie had been living together in Kansas for about a year. Jack wanted to marry Jackie, so he bought a $10,000 engageme

nt ring and romantically gave it to her when they went out to dinner. She accepted his proposal of marriage and the ring and went about arranging their wedding ceremony for about six months later. She had to make several non-refundable deposits. But about 3 weeks before the wedding, without any explanation Jack called off the engagement and demanded that Jackie return the engagement ring, which she refused to do. Is Jack entitled to get the ring back or can Jackie keep it? For up to 20
Business
1 answer:
Dahasolnce [82]3 years ago
8 0

Answer:

Jack is NOT entitled to get the ring back and Jackie keep it.

Explanation:

A Contract existed between Jack and Jackie and the ring was given to Jackie after <u>the acceptance of a marriage proposal</u> because 'she accepted his proposal of marriage'. Therefore there is an oral enforceable contract in place.

Another thought or evidence in support of Jackie's position is the fact they had lived together for over a year, hence <u>it is more likely than not that a marriage intention must have been in place</u>.

Furthermore, Jack cannot be entitled to get back the ring because in the United States <u>statute of frauds also cover a prenuptial agreement</u>

<u>Therefore, for Jack to enforce any position or claim of the ring, there must be an agreement to prove that  (something in writing), that Jackie had signed; stating that she would return the ring if he changed his mind.</u>

In the scenario, that condition is not present and Jackie would keep the ring.

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Use the cost information below for Sundar Company to determine the cost of goods manufactured during the current year:
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Answer: cost of goods manufactured during the current year:  $95,600

Explanation:

Cost of goods manufactured = Direct materials + Direct labor + Manufacturing Overhead

But

Manufacturing Overhead= Cost added during accounting period + beginning work-in-process - ending work-in-process

= $51,100 + $11,500 - $12,100

=$50,500

Cost of goods manufactured = Direct materials + Direct labor + Manufacturing Overhead

=$19,800 + $25,300 + $50,500

=$95,600

or Using the formulae

Costs Added = Direct Materials Used + Direct Labor + Factory Overhead

=$19,800 + $25,300 + $51,500 = $96,200

Cost of Goods Manufactured = Costs Added + Beginning Work in Process − Ending Work in Process Cost of Goods Manufactured

$96,200+ $11,500 - $12,100=$95,600

3 0
3 years ago
What values can you expect from a person of integrity
Maksim231197 [3]
Believes in something, values honesty and triump
7 0
3 years ago
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The tendency to search for information consistent with our preconceptions is called: A. functional fixedness B. the representati
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Answer:

D, confirmation bias

Explanation:

Confirmation bias is a form of cognitive bias that is defined as the tendency to interpret ,search, recall an information that confirms one's previous personal belief.

For example, if you suspect that a friend of yours is a thief after some things went missing a few times after he left you place and then someone else tells you he is also suspecting that same friend of being a thief, your confidence bias immediately connects both situations and then you believe your friend is a thief.

I hope this helps.

8 0
4 years ago
Accounting for pensions receives more attention in the United States (US) than in other countries. Discuss reasons that would ex
PtichkaEL [24]

Answer:

I. Lack of a proper pension system

II. Corruption

III. Lack of interest.

Explanation:

I. Lack of a proper pension system: Some countries especially in the developing countries have no proper pension system which makes them not to put good attention to pension accounting

II. Corruption: This is one of the main reasons why pension accounting is given less accounting in many countries of the world, as some leaders usually wants to create room to loot the funds of the pensioners.

III. Lack of adequate interest: Some countries of the world give less focus and emphasis on the plights of pensioners which makes them not to put good effort to their issues or pension accounting.

6 0
3 years ago
Suppose a State of California bond will pay $1,000 eight years from now. If the going interest rate on these 8-year bonds is 5.5
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Answer:

the bond worth today is $651.60

Explanation:

The computation of the amount of bond worth today i.e. present value is to be shown below:

Present value = Amount ÷ (1 + interest rate)^number of years

where,

Amount = $1,000

Interest rate = 5.5%

And, the number of years is 8

Now placing these values to the above formula

So, the worth of the bond today is

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hence, the bond worth today is $651.60

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3 years ago
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