Answer:
a. Reformation
Explanation:
In the given instance, it is clearly observed that the Vehicle Identification Number is not correctly written in the contract, and that happened due to typing errors, and was not intentional.
In these cases the courts order to reform the contract, and then the reformed contract shall reflect the intentions of both the parties as what they intend.
In the given case also, reformation will take place as the error is not due to intentionally, fraud with the other party. Thus correct option is:
a. Reformation
Answer:
The NPV = $1578.185602 rounded off to $1578.19
As the NPV is positive, the project should be accepted.
Explanation:
The Net Present Value or NPV is a tool used to evaluate projects. It is used with various other tools to decide whether to undertake a project or not. To calculate the Net Present Value or NPV, we take the present value of the cash inflows provided by the project and deduct the initial cost of the project. If the NPV is positive, we should proceed with the project and vice versa.
NPV = CF1 / (1+r) + CF2 / (1+r)^2 + ... + CFn / (1+r)^n - Initial Cost
Where,
- CF1, CF2, ... represents cash flow in Year 1, Year 2 and so on.
- r is the required rate of return
NPV = 3200 / (1+0.17) + 3200 (1+0.17)^2 + 3200 (1+0.17)^3 +
3200 (1+0.17)^4 + 5700 (1+0.17)^5 - 9800
NPV = $1578.185602 rounded off to $1578.19
Answer:
Explanation:
Prepare a post-closing trial balance.Step 9
Prepare an adjusted trial balance.Step 6
Analyze business transactions.Step 1
Prepare a trial balance.Step 4
Journalize the transactions.Step 2
Journalize and post closing entries.Step 8
Prepare financial statements.Step 7
Journalize and post adjusting entries.Step 5
Post to ledger accounts.Step 3
Answer:
Option D. management estimates the amount of uncollectibles
Explanation:
When the company estimates the bad debts, reflects it in the balance sheet through a Debit entry in the Bad Debt Expenses againts the asset account Allowance for Doubtful Accounts as a Credit.
When the bad debt are confirm as uncollectible the loss is reflected in the Account Receivable as a Credit with the correspondent debit entry in the Allowance for Doubtful Accounts.
Manager who subscribe to Theory X believe that people are naturally lazy and uncooperative and therefore must either be rewarded or punished to be made productive to achieve the target.
Theory X and theory y are two theories of human motivation and management created by Douglas McGregor based on the works of Abraham Maslow and demonstrate opposing models of workforce motivation. Theory X works on the assumption that the typical worker is unambitious, selfish, uncooperative and avoids responsibility, unintelligent, lazy, and that their main motivation is a steady income.
Managers who employ these assumptions tend to use a reward/punishment system as a motivator and expect increased efficiency with a hands-on approach. Under this type of management, individuals are more likely to directly receive a negative or positive outcome and are considered to be most effective in a workforce with low-performance motivation. A workplace that involves assembly lines or manual labor is ideal for this managerial style.
You can learn more about theory X at
brainly.com/question/12440324
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