Answer:
Option C is the correct option.
Explanation:
As the rights and obligation of the antique rocking chair are been passed to third party, so the damage caused by the checque been bounced is the monetry consideration agreed between the party to the contract, McGraw and Tellis. So Tellis may recover money damages from McGraw. However there is a special condition that can allow Tellis recover his asset from Rio if the third party knew before purchase of this asset, that the checque paid to Tellis by McGraw was dishonoured but still he contracted with McGraw to acquire the antique rocking chair.
Overall the option C is the correct option with which the case scenario relates.
Answer:
The correct answer is $24,500.
Explanation:
According to the scenario, the given data are as follows:
Total Account receivable = $100,000
Amount collected = $70,000
So, if there is sufficient taxable income, then assume tax rate to be 35%.
So, we can calculate the Gains tax by using following formula:
Gain tax = Amount collected × Tax rate
By putting the value, we get
Gain tax = $70,000 × 35%
= $24,500.
Answer:
A. Set meters is the correct answer.
Explanation:
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