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Tatiana [17]
3 years ago
11

Bob went out with his friends to celebrate his birthday. They went to a bar where they drank copious quantities of alcohol. In t

he morning, Bob had not slept and was still obviously intoxicated. He found his way to a car dealership near his house and entered into a contract to buy a Mercedes Benz SUV for the cost of $140,000.00. The car salesman could smell alcohol on Bob's breath, he noticed his eyes were bloodshot and "glossy" while they were signing the papers relating to the sale, and when Bob left he could see that he was unsteady on his feet. Bob left the dealership and went home and went to bed. He slept for two days. The car salesman from the dealership called Bob 4 days later to tell him that his vehicle was ready for pick up. Bob had no memory of the buying any car.
In these circumstances:
A. the contract is void ab initio because Bob lacked capacity to contract due to his intoxication
B. Bob can avoid or repudiate the contract within a reasonable time after he regains capacity and sobers up
C. Bob cannot avoid the contract because he is responsible for his intoxication and the car salesman had no way of knowing Bob was intoxicated at the time of entering into the contract
Business
1 answer:
Nimfa-mama [501]3 years ago
8 0
I think the answer is c
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Answer and Explanation:

d. is the Fed's primary monetary policymaking body.

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Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. if they then still sel
Ierofanga [76]
The answer would be that there are few other places to purchase soda on campus; competition (or lack thereof) can play a big factor in determining price elasticity.

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As for the third option, we are not given any information on the students' budgets, and no information with which to infer this, either. We only have information on their spending as it is related to soda, not as compared to other purchases.

Finally, given that the quantity sold does not change much despite the change in price, we can conclude that this price curve is relatively inelastic, in which case the price elasticity of demand would be closer to zero than one. This effectively rules out the last answer.
8 0
3 years ago
In a compensatory stock option plan for which the grant and exercise dates are different, the stock options outstanding account
NeTakaya

Answer:

The correct answer is D

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And the stock options which have the outstanding account that should be decreased or reduced at the date of exercise.

3 0
3 years ago
The following is a partial trial balance for the Green Star Corporation as of December 31, 2021:
Vinil7 [7]

Answer and Explanation:

The presentation of the income statement is presented below:

Income statement

Revenues and gains:  

Sales revenue          1,400,000

Add: Interest revenue       35,000

Add: Gain on sale of investment    55,000

Total revenues and gains      1,490,000

Less:

Expenses and losses:  

Cost of goods sold    740,000  

General and administrative expenses 80,000  

Selling expenses   185,000  

Interest expense    45,000  

Total expenses and losses     1,050,000

Income before income tax       440,000

Income tax expense     - 135,000

Net income    305,000

EPS = Net income ÷ Number of common shares

                  ($305,000 ÷ 100,000)  3.05

2.

Income statement

Sales            1,400,000

Less: Cost of goods sold - $740,000

Gross profit      660,000

Less:

Operating expenses:  

General and administrative expenses $80,000  

Selling expenses $185,000  

Total operating expenses  -$265,000

Operating income $395,000

Other incomes and expenses  

Interest revenue  $35,000  

Gain on sale of investment $55,000  

Interest expense  -$45,000  

Total other income, net  $45,000

Less: Income before income tax $440,000

Income tax expense -$135,000

Net income $305,000

EPS = Net income ÷ Number of common shares

(305,000 ÷ 100,000)  3.05

7 0
3 years ago
1. Moss County Bank agrees to lend the Sadowski Brick Company $500,000 on January 1. Sadowski Brick Company signs a $500,000, 6%
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Answer:

Debit interest expenses for $15,000

Credit interest payable for $15,000

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Monthly interest expenses = ($500,000 * 6%) / 12 = $2,500

Interest expenses for 6 months = $2,500 * 6 = $15,000

The adjusting entry required will therefore look as follws:

<u>Date            Particulars                              Dr ($)                 Cr ($)        </u>

June 30      Interest expenses                 15,000

                   Interest payable                                               15,000

<u>                    (</u><em><u>To record 6 months interest payable on note.)           </u></em><u>         </u>

3 0
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