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Vera_Pavlovna [14]
3 years ago
12

Sven goes to a bar, drinks eight shots of bourbon, and then goes to an electronics store, where he buys a large flat-screen TV f

or $2,500. If he later wants to void the contract based on his intoxication when he bought it, he will need to prove that:
Business
1 answer:
Lelu [443]3 years ago
8 0

Answer:

The correct answer is:  he lacked the mental capacity to enter into the contract.

Explanation:

A person may ratify a contract that he or she established while intoxicated after becoming sober, and therefore become fully responsible for it. Though, if that person wants to reject the contract, proof of mental lack of capacity must be provided to dissolve the contract and any responsibility inherent.

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Net income $ 15,500 Cash dividends paid to stockholders 3,600 Cash proceeds from sale of land 3,800 Cash proceeds from bank loan
lozanna [386]

Answer: 3500

Explanation:

The company would report net cash provided by (used in) financing activities based on the following:

Cash proceeds from bank loan 9,800

Less: Cash dividends paid to stockholders 3,600

Less: Cash payment (principal) on bank loan 2,700

Cash flow on financing activity will now be:

= (9800 - 3600 - 2700)

= 9800 - 6300

= 3500

Therefore, the The company would report net cash provided by (used in) financing activities of 3500

5 0
3 years ago
Employment agencies, career fairs, and Internet ads can all be sources of
Oksanka [162]

Answer:

D. Job leads

Explanation:

4 0
3 years ago
Read 2 more answers
When rejecting an idea because it is not in your company's best interests,
Reika [66]
I could be wrong but id say d
7 0
3 years ago
On December 31, Rivera Company receives a utility bill in the mail for $440. Rivera Company intends to pay the bill in early Jan
olga55 [171]

Answer:

(a)overstated

(b)overstated

(c)no effect

Explanation:

(a) As there is an expense account (utilities expense) which, is not included in the income statement, result for the year will be higher than if was.

(b)The revenues account will be oaky. But, the total expenses will be lower, as there are cost of the period which are not included.

So the Net incoem will be higher than a correct income as their expenses do not include this utilities expense

(c) The balance sheet  will have no effect in the total Asset or Total Liaiblities+SE but, it is a change in the composition.

The income (reained earnings) should be lower as the income will be lower and a liability will be create (utilities payable) to fill this so:

with the mistake:

liab 0  equity (+400)

ammending the mistake

liab 400 equity 0

the net effect is zero.

It will decrease equity and increase liability, but the su of both will be the same

7 0
3 years ago
You have been asked to estimate the market value of an apartment complex that is producing annual net operating income of $44,50
s2008m [1.1K]

Answer: indicated value of the subject property using direct capitaliation is =   $390,351= $390,000

Explanation:The abstracted going-in capitalization rates from the four properties will be calculated using

The going-in cap rate which is  first-year net operating income (NOI) divided by the initial investment or purchase price

For Comparable 1:  55,000/ 500,000= 0.110

Comparable 2:   50,400/420,000= 0.120

Comparable 3: 53,400/ 475,000=0.112

Comparable 4:  69,000/600,000= 0.115

Calculate the Simple Ave. we have 0.110+0.120+0.112+0.115/4= 0.114

The simple average of the four comparable cap rates is 0.114. Therefore  the indicated value of the subject property is $390, 351 gotten from

($44,500 / 0.114) = $390,351= $390,000

8 0
3 years ago
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