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8_murik_8 [283]
3 years ago
9

A man of seemingly modest means died, leaving his nephew as his sole heir. Among the items inherited by the nephew were some old

oil paintings. The nephew knew nothing about art and had no place to put the paintings in his home. He placed an ad in the paper offering to sell the paintings at a price to be mutually agreed upon. A buyer for an art gallery responded to the ad. The buyer did not identify himself as an art gallery buyer or tell the nephew that he was knowledgeable about art. Rather, he concocted a story about wanting the paintings for his country estate. The nephew, for his part, revealed his lack of knowledge about art when he told the buyer that his uncle had probably painted the pieces himself. From the signature and the style, the buyer recognized that the artist was a renowned 19th century American portrait artist. The nephew and the buyer agreed upon a price and executed a contract. However, before the nephew delivered the paintings to the buyer, or the buyer paid him, he sought to rescind the contract. The buyer insisted that the nephew deliver the paintings to him and threatened to sue for breach of contract if he did not. Which argument would give the nephew the best basis for rescinding the contract with the buyer
Business
1 answer:
nignag [31]3 years ago
5 0

Answer:

The response to these questions can be defined as follows:

Explanation:

In the given scenario, the buyer was requested that perhaps the nephew give him the paintings and threatened to sue if they did not. Because the nephew said to the buyer that uncle possibly has painted the nephew's painting are used to give them the best basis to cancel the agreement with both the buyer.

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Cobe Company has already manufactured 21,000 units of Product A at a cost of $15 per unit. The 21,000 units can be sold at this
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Answer and Explanation:

The computation is shown below;

Particulars                   Sell     process further  

sales                       $450,000      $1,209,000  

Relevant cost    

Process further cost $0               $290,000

Less: Total relevant cost  $0      $290,000  

Income                     $450,000      $629,000

Incremental income                          $179,000

The $1,372,000 is come from

= 5,800 units × $105 + 12,000 units × $50

= $609,000 + $600,000

= $1,209,000

Hence, the company should process further

7 0
3 years ago
Sylvester Motors Inc. has the following balances at the end of the accounting period:
Makovka662 [10]

Answer:

C $49,000

Explanation:

none

4 0
3 years ago
One negative consequence of using automation to improve manufacturing production is that:
melamori03 [73]

Answer:

The correct answer is letter "A": factories often need fewer workers.

Explanation:

Automation is the introduction of machinery in manufacturing companies with the intention of mass-producing standardized goods in an attempt to reduce costs by using large lines of equipment instead of more human labor hand. While this represents an advantage for companies, it is a drawback for employees who see their job duties being handled to machines.

Automation is used in different industries such as <em>utilities, defense, </em>and <em>information technology.</em>

5 0
3 years ago
Privett Company Accounts payable $33,264 Accounts receivable 67,719 Accrued liabilities 6,039 Cash 20,980 Intangible assets 39,9
xz_007 [3.2K]

The total amount of quick assets is equal to $119,232. therefore, Option B is the correct statement.

<h3>What are Quick Assets?</h3>

Quick assets encompass cash available or current assets like accounts receivable that may be transformed to cash with minimum or no discounting.

Companies have a tendency to use the short assets to cover short-time period liabilities as they arrive up, so speedy conversion into cash (excessive liquidity) is critical.

Inventories and prepaid expenses aren't quick assets due to the fact they may be hard to transform into cash, and deep discounts are sometimes needed to do so.

The amount of quick assets is equal to Accounts receivable plus Cash plus Marketable securities.

Quick assets = $67,719 + $20,980 + $30,533

Quick assets = $119,232

Hence, the total amount of quick assets is equal to $119,232. Option B is the correct statement.

learn more about quick assets:

brainly.com/question/11209470

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5 0
2 years ago
An investment banker agrees to underwrite an issue of 10 million shares of stock for TWResearch, Inc. on a firm commitment basis
Mrac [35]

Answer:

$ 7.5 million

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7 0
3 years ago
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