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3 years ago

If nothing is stated to the contrary in terms of an auction, an auction is presumed to be ________.

Business

1 answer:

KATRIN_1 [288]3 years ago

3 0

Answer: with reserve

Explanation: If nothing is stated to the contrary in terms of an auction,an auction is presumed to be ________.

A)non-binding

B)a quasi-contract

C)without reserve

D)with reserve

E)an implied-in-law contract

An auction is presumed to be with reserve if nothing is stated to the contrary (in terms of an auction). What this means is that the seller is merely expressing or showing his intent to receive offers. In contrast, however, if an auction is without reserve, the lowest bid must be accepted by the auctioneer but if it is with reserve, the auctioneer may refuse to sell the item if he is not satisfied with the size of the highest bid.

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Zinc, Inc. has 10,000 shares of $5 par, 5% preferred stock, and 5,000 shares of $10 par common stock issued and outstanding. If

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Answer:

A. 2500

Explanation:

10,000 shares x $5 x .05= 2500

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3 years ago

The first step any investor should take before beginning to invest is to __________.

Nataly_w [17]

The first step that an investor should take before beginning to invest should be to establish investment objectives.

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3 years ago

A business has the following items: - Land $1,500,000 - Machinery $30,000 - Cash $10,000 - Loan $500,000 - Owner’s equity? _____

vodomira [7]

Answer:

The owner's equity amounts to $1,040,000

Explanation:

The formula to compute the owner's equity is as:

Owner's equity = Assets - Liabilities

Where

Assets = Land + Machinery + Cash

= $1,500,000 + $30,000 + $10,000

= $1,500,000 + $40,000

= $1,540,000

Liabilities = Loan

= $500,000

Putting the values above in the formula:

= $1,540,000 - $500,000

= $1,040,000

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3 years ago

To determine the six-month interest payment amount on a bond, you would take one-half of the market rate times the face value of

MrRa [10]

Answer:

False

Explanation:

To determine the six month interest payment on a bond, you must multiply the face value of the bond times half the annual contract rate of the bond. The contract rate of the bond is the interest rate used to calculate the bond's coupon.

The market rate of the bond may or may not be equal to the contract rate. If the bond was sold at a premium, the market rate is lower than the contract rate. If the bond is sold at a discount, the market rate will be higher than the contract rate.

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3 years ago

All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income tax

yulyashka [42]

Answer:

The income before tax is $370450, the income tax is $111135 and the net income is $259315.

Explanation:

As the data table is not visible,online a similar question is found for which the data is attached here with.

From the given data

Service Revenue=$943,000

Interest Revenue=$127,1000

Total Revenue=Service Revenue+Interest Revenue=$1070100

Now The expenses are given as

Supplies Expense=$349,200

Repairs and Maintenance Expense =$258,300

Depreciation Expense=$60,350

Rent Expense=$ 31,800

Total Expense=Supplies Expense+Repairs and Maintenance Expense+Depreciation Expense+Rent Expense=$699650

So the income before tax is given as

Income=Total Revenue-Total Expense

Income=$1070100-$699650

Income=$370450

So the income before tax is $370450.

Now the tax is estimated at 30% as given tax rate as

Tax=Rate*Income

Tax=30%*$370450

Tax=$111135

So the income tax is $111135.

Now the Net income is given as

Net Income=Income-Tax

Net Income=$370450-$111135

Net Income=$259315

So the Net Income is $259315.

8 0

3 years ago