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erik [133]
4 years ago
13

27. DORIS PURCHASED A NEW AUTOMOBILE ON CREDIT WHEN SHE WAS SIXTEEN YEARS OLD. TWO DAYS AFTER HER NINETEENTH BIRTHDAY SHE SOUGHT

TO RESCIND HER OBLIGATION TO MAKE FURTHER PAYMENTS. ASSUMING THAT EIGHTEEN IS THE AGE OF MAJORITY, THE CAR DEALER WOULD:
(A) BE ABLE TO ENFORCE HER OBLIGATION SINCE DORIS HAD RATIFIED THE CONTRACT

(B) NOT BE ABLE TO ENFORCE HER OBLIGATION SINCE DORIS HAD NOT RATIFIED THE CONTRACT

(C) BE ABLE TO ENFORCE HER OBLIGATION SINCE THE CAR DEALER WAS A COMPETENT PARTY AT ALL TIMES

(D) NOT BE ABLE TO ENFORCE HER OBLIGATION SINCE DORIS DID NOT RATIFY THE CONTRACT PRIOR TO HER EIGHTEENTH BIRTHDAY

28. AN EXCULPATORY CLAUSE IS A PROVISION OF CONTRACT THAT:

(A) REQUIRES EXTRA PROTECTION BY ONE PARTY
(B) EXCLUDES AN OPTION CONTRACT
(C) DISCLAIMS LIABILITY
(D) IS NEVER UPHELD BY THE COURTS















29. EXCULPATORY CLAUSES IN BAILEES’ CONTRACTS ARE USUALLY HELD TO BE:

(A) ILLEGAL, IF THE COURT FEELS THAT THEY WERE NOT PROPERLY COMMUNICATED TO THE BAILOR

(B) ILLEGAL – EVEN IF THEY ARE PROPERLY COMMUNICATED TO THE BAILOR – IF THEIR TERMS PURPORT TO FREE THE BAILEE FROM LIABILITY ARISING OUT OF THE BAILEE’S NEGLIGENCE

(C) LEGAL, IF PROPERLY COMMUNICATED TO THE BAILOR (EVEN IF THEY PURPORT TO FREE THE BAILEE FROM LIABILITY ARISING OUT OF THE BAILEE’S NEGLIGENCE)

(D) A AND C

30. STATUTES INVOLVING USURY:

(A) ARE ILLEGAL
(B) LIMIT THE AMOUNT OF INTEREST THAT MAY BE CHARGED ON LOANS
(C) CAN ONLY BE FEDERAL STATUTES
(D) CAN ONLY BE STATE STATUTES

31. ROGER EVANS, A REAL ESTATE BROKER LICENSED IN KANSAS, HELPED THOMAS SELL SOME LAND LOCATED IN MISSOURI. IF ROGER IS NOT A LICENSED BROKER IN MISSOURI, HE:

(A) CANNOT COLLECT A COMMISSION SINCE HE DID NOT REPRESENT THE BUYER
(B) CAN COLLECT A COMMISSION SINCE HE RENDERED A VALUABLE SERVICE
(C) CANNOT COLLECT A COMMISSION SINCE THE LICENSING LAW IS VIOLATED
(D) CAN COLLECT A COMMISSION SINCE HE IS LICENSED IN A STATE THAT BORDERS WITH MISSOURI

32. DANDY, A CONSUMER OF FINE CLOTHES, PROMISED TO PAY $1,400 TO ALFRED WHO PROMISED TO MAKE A BUSINESS SUIT FOR DANDY. IF ALFRED HAS COMPLETED THE SUIT BUT DANDY HAS NOT PICKED IT UP OR PAID ANY MONEY, WHICH OF THE FOLLOWING IS THE MOST ACCURATE DESCRIPTION OF THIS CONTRACT? IT IS A:

(A) UNILATERAL, UNENFORCEABLE, IMPLIED-IN-FACT CONTRACT
(B) UNILATERAL, VALID, QUASI-CONTRACT
(C) BILATERAL, VOIDABLE, EXPRESSED EXECUTORY CONTRACT
(D) BILATERAL, VALID, EXPRESSED CONTRACT WHICH IS PARTIALLY EXECUTED AND PARTIALLY EXECUTORY




33. A CONTRACTUAL AGREEMENT MAY BE EXPRESSED IN WRITING, OR IT MAY BE ORALLY STATED. IN THE ALTERNATIVE, AN IMPLIED-IN- FACT CONTRACT:

(A) IS CREATED WHEN THE PARTIES MANIFEST THEIR AGREEMENT BY CONDUCT RATHER THAN BY WORDS
(B) IS BASICALLY THE SAME THING AS A CONTRACT IMPLIED-BY-LAW
(C) IS BASICALLY THE SAME THING AS A QUASI-CONTRACT
(D) IS BASICALLY THE SAME THING AS AN INVALID CONTRACT

34. ACTIONABLE FRAUD CAN BE DEFINED AS REQUIRING ALL THE FOLLOWING ELEMENTS EXCEPT FOR:

(A) KNOWLEDGE OF THE MISREPRESENTATION OF A MATERIAL FACT BY THE SPEAKER
(B) ACCURATE REPRESENTATION OF A MATERIAL FACT
(C) JUSTIFIABLE RELIANCE
(D) INJURY

35. IF A PERSON CAN PROVE THAT HE WAS HONESTLY MISTAKEN AS TO THE TERMS OF A CONTRACT THAT HE HAS MADE, EVEN THOUGH IT WAS NOT APPARENT TO THE OTHER PARTY, AS A GENERAL RULE HE:

(A) CAN RESCIND THE CONTRACT
(B) CANNOT RESCIND THE CONTRACT
(C) CAN RESCIND THE CONTRACT IF HE CAN SHOW THAT THE MISTAKE WAS NOT THE RESULT OF NEGLIGENCE ON HIS PART
(D) NONE OF THE ABOVE
Business
1 answer:
likoan [24]4 years ago
4 0

Answer: Sorry bruh, cant help u with them all.

Explanation:

I dont got the time. But i will answer one. 27. the answer is A I think.

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Anestetic [448]

Banks create cash by using lending extra reserves to buyers and businesses. This, in turn, finally provides greater to money in circulation as dollars are deposited and loaned again.

The Fed does not really print money. This is treated through the Treasury Department's Bureau of Engraving and Printing.

<h3>How is money created in the economy?</h3>

Most of the money in our economy is created by using banks, in the form of financial institution deposits – the numbers that show up in your account. Banks create new money each time they make loans. 97% of the money in the financial system today exists as financial institution deposits, at the same time as simply 3% is physical cash.

<h3>How do commercial banks create money?</h3>

Commercial banks make cash through imparting and earning activity from loans such as mortgages, auto loans, business loans, and personal loans. Customer deposits provide banks with the capital to make these loans.

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2 years ago
Which type of financial aid is often based on merit, as opposed to financial need?
Vladimir79 [104]

Answer:

Scholarships

Explanation:

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hen using absorption costing when production is greater than sales, a portion of fixed overhead is allocated to:
Rainbow [258]

When using absorption costing when production is greater than sales, a portion of fixed overhead is allocated to the products sold.

<h3>What happens when production is greater than sales?</h3>
  • Because it allocates fixed overhead expenses to each unit of a product produced throughout the time, absorption costing differs from variable costing.
  • Net income recorded under absorption costing will be higher than net income reported under variable costing when production exceeds sales. Closing stocks rise under absorption costs as output outpaces sales.
  • When output exceeds the number of units sold, absorption costing allocates fixed overhead to the items sold, resulting in net income that is higher than that determined by variable costing.
  • The operating income under absorption costing is higher when production outpaces sales, i.e. when final inventory exceeds beginning inventory.

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8 0
2 years ago
The production department in a process manufacturing system completed 94,000 units of product and transferred them to finished g
Fofino [41]

Answer:

Weighted Average Method.

a. 110,700 units

b.  106,525 units

c.  82,090 units

FIFO

a. 85,500 units

b.  95,245 units

c.  99,010 units

Explanation:

Calculation of equivalent units of production with respect to direct materials.

FIFO.

<u>a. All direct materials are added to products when processing begins.</u>

<u>Materials</u>

To finish Opening Work in Process                    0

Started and Completed                                  65,800

Closing Work in process (16,700 × 100%)       16,700

Total  equivalent units of production             85,500

<u>b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs</u>

<u>Materials</u>

To finish Opening Work in Process  (28,200 × 60%) 16,920

Started and Completed (65,800 × 100%)                   65,800

Closing Work in process (16,700 × 75%)                     12,525

Total  equivalent units of production                          95,245

<u>c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.</u>

<u>Materials</u>

To finish Opening Work in Process  (28,200 × 40%)  11,280

Started and Completed (65,800 × 100%)                   65,800

Closing Work in process (16,700 × 30%)                       5,010

Total  equivalent units of production                         82,090

Weighted Average Method.

<u>a. All direct materials are added to products when processing begins.</u>

<u>Materials</u>

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 100%)        16,700

Total  equivalent units of production              110,700

<u>b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs</u>

<u>Materials</u>

Completed and transferred (94,000 × 100%)            94,000

Closing Work in process (16,700 × 75%)                     12,525

Total  equivalent units of production                        106,525

<u>c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.</u>

<u>Materials</u>

Completed and transferred (94,000 × 100%)            94,000

Closing Work in process (16,700 × 30%)                       5,010

Total  equivalent units of production                          99,010

8 0
3 years ago
Ans: Loss on sale Rs. 700; Balance bld on 2017 Rs. 45,000 Mahindra Company which depreciates its machinery at the rate of 10% un
kiruha [24]

Answer:

can you come and check my question and if you can guide me

6 0
3 years ago
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