Answer: Tony has explicitly breached the Implied Warranty of Fitness for a particular purpose.
Explanation: the Implied warranty of fitness for a particular purpose takes effect when a buyer specifically asks a seller for a product that can be used for a particular purpose.
Because Mark (buyer) requested for the exact type of wood that can resist wood decay caused due to the damp environment of his cabin and Tony (seller) sells Mark lumber while assuring him that it's what he is looking for. Tony's assurance to Mark is known as the Implied warranty of fitness for a particular purpose, and since the wood is affected by dampness and caves then Tony has explicitly breached the warranty.
Answer:
Depreciation Expense account is $4,700
Balance in the Accumulated Depreciation account is $9,400
Explanation:
Depreciation is used to determine how a value of a fixed asset decreases with time due to usage. Examples of assets that can be depreciated include equipment, buildings, vehicles and machinery. If the annual depreciation in this case is $4,700, at the end of the second year, depreciation expense would be $4,700. however, accumulated depreciation would be (4700 +4700) totaling to $9,400
Suppose that real GDP per capita in Italy is $36,000. If real GDP per capita is growing at a rate of 3. 6% per year. How many years will it take for real GDP per capita to reach $72,000?
The correct answer is 20 years.
What is GDP per capita?
GDP per capita is calculated by dividing the total gross value contributed by all producers who are residents of the economy by the mid-year population, plus any product taxes (less subsidies) that are not taken into account when valuing output.
In the given case, the real GDP of Italy will be doubled in 20 years which is determined by rule 72.
So, 20 years it will take for real GDP per capita to reach $72,000.
Learn more about GDP per capita here:
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Answer:
$1,500
Explanation:
Relevant data provided
Annual cash flow = $150
Current Stock percentage = 10%
The computation of today value of Dynamo is shown below:-
Today value of Dynamo = Annual cash flow ÷ Current Stock percentage
= $150 ÷ 10%
= $150 ÷ 0.10
= $1,500
Therefore for computing the today value of Dynamo we simply divide the annual cash flow by current stock percentage.
Answer:
A tort is a legal term describing a violation where one person causes damage, injury, or harm to another person.
hope this helps!
