Answer:
Since Travis is a minor, he is able to disaffirm a contract. Minors are not allowed to sign contracts except those that include basic necessities like food or shelter. This is not the case here since painting a car is not considered a basic necessity. As long as Travis disaffirms the contract while being a minor, the other party cannot do anything about it. This applies even if Travis cannot make any type of restitution since he cannot return the paint job.
The donations of the Chubb Group, an insurance company, which regularly supplies funds for programming on the public television network are an example of <u>c) corporate philanthropy</u>.
<h3>What is corporate philanthropy?</h3>
Corporate philanthropy is the promotion of the welfare of others (persons and entities) through charitable donations of funds, time, and products.
Provided these donations are voluntarily undertaken to manage and account for their impact on society in a responsible manner without undue influence, they are welcome.
Thus, Chubb Group's donations are an example of <u>c) corporate philanthropy</u>.
Learn more about corporate philanthropy at brainly.com/question/16943765
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<h3>Question Completion with Answer Options:</h3>
a) financial empowerment
b) ethical responsibility
c) corporate philanthropy
d) economic responsibility
e) corporate paternalism
Answer: Skysong should report $284,600 as it's December 31 inventory.
Firstly, FOB is a term meaning free on board and can be defined as without charge to the purchaser for delivery on board a carrier (originally a ship), at a specified location or point. It is often used in such phrases as FOB destination to specify the point where the title of goods passes from the seller to the buyer.
Skysong should report $284,600 because that's the total sum of the actual inventory. Summation of $235,000 goods at hand, $27,800 of goods purchased from Pelzer Corporation, and $21,800 of goods sold to Alvarez Company gives $284,000.
Answer:
a. verify that the debits and credits are in balance
Explanation:
A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.
On the other hand, a perpetual inventory system is a type of inventory management that continuously records in real-time the amount of inventory sold or purchased through the use of enterprise software or technological software applications such as a point of sale (POS).
A journal entry involves the process of keeping the records of business transactions made by an organization.
The journal entry is used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.
In Accounting, most businesses use a double-entry account system and as such, the total amount debited must equal the total amount credited in a journal entry.
Once the adjusting entries are posted, the adjusted trial balance is prepared to verify that the debits and credits are in balance.
