Based on the given states, their probability of occurrence, and the investment returns, the expected return would be 8.72%.
<h3>What is the expected return for this investment?</h3>
This can be found by the formula:
= ∑ (Probability of occurrence x Investment returns if state occurs)
Solving gives:
= (18% x 20%) + (42% x 16%) + (30% x 3%) + (10% x -25%)
= 3.60 + 6.72 + 0.90 - 2.50
= 8.72%
Question:
Find the expected value of the investment.
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According to the Statute of Fraud, parties entering into a legal agreement must put their agreement in writing. This is one of the fundamental elements of a legal agreement.
Additionally, it needs to be properly signed by both parties to the agreement, or at the very least, legal agreement needs the signature of the person paying for the products or services.
First off, in this situation Vollmer didn't write down the terms and conditions on paper; instead, she sent a message via email, which the legal agreement could not sign and approve. In the end, since the receiving party cannot sign it, the contract is invalid under the Statute of Fraud. Since Lang is being released from the financial obligation, his signature is crucial in this situation.
Thus, a written agreement is not legally binding.
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Answer:
b) $ 150,000
Explanation:
Calculation of Hasting Company net income in 2014
Particulars Amount ($)
Pretax Income under FIFO for 2014 170,000
Less:
12/31/2014 Final Inventory under FIFO 270,000
Add:
12/31/2014 Final Inventory under LIFO 210,000
Add:
12/31/2013 Final Inventory under FIFO 240,000
Less:
12/31/2013 Final Inventory under LIFO 200,000
Pretax Income under LIFO for 2014 150,000
Answer and explanation:
Direct variance in the labor rate measures the current direct labor costs and regular direct labor costs over the same period of operations. Favorable labor rate variance can be caused because of contracting more unskilled workers, the decrease in the minimum wage, and setting the costs of indirect labor incorrectly.
Answer:
The application of skill and knowledge with reasonable care and diligence
Explanation:
Competence is a part of Article IV- Due Care under the AICPA code of professional conduct. Competence is necessary to render the professional service without calling into question. It represents the application and maintenance of perceiving experience that supports a professional member to render a service with extreme knowledge, facility, and professionalism. Therefore, the answer choice B is the correct option.