You are currently spending much time, effort and money on your education. economists call education an investment in

Tommy McCartney is a sixteen-year-old high school student. He has worked forty hours per week at the local convenience store ove

Kay [80]

Answer: Yes,it is legal and or ethical to allow Tommy to escape his contractual obligations.

Explanation:

A contract is an agreement made between two or more persons which the court of law can enforced. Under the law of contract, one of the essential elements of a valid contract is capacity, which states that a person must be of legal age before such a person can enter into a contract. For example a legal age is 18 years. In a law of contract any contract enter into with a minor is null and void according to the law. The exception to this rule is when a minor enter into a contract for the supply of necessity such as food and clothing. It is evidence that Tommy McCartney is 16 years old as at the time of entering into the contract for the purchase of the car from the store. In this case, by virtue of being a minor he does not have the backing of the law to enter into the contract for the purchase of the car from the store as at the time he does so.

Therefore, based on this legal point ,the contract is voidable.Tommy money must be returned to him because the contract between him and the store is null and void.It is therefore legal to allow Tommy to escape his contractual obligations

4 0

3 years ago

One of the main responsibilities employers have under OSHA is to:

Schach [20]

<span>Read and follow all health and safety postings;Follow safe work practices;Help reduce work hazards;Report all occupational injuries and illnesses;Report hazardous conditions;Cooperate during an OSHA inspection; and<span>Exercise rights under the OSH Act in a responsible manner.</span></span>

5 0

3 years ago

Oceanic, a venture capital firm, has the opportunity to invest in one of two firms that are in the process of globalizing. Macmi

Korvikt [17]

Answer: B. Macmillan, because firms that face stiff competition at home tend to do better abroad

Explanation:

Following the information given, it can be deduced that Oceanic should invest in Macmillan, because firms that face stiff competition at home tend to do better abroad.

The fact that Macmillan, which is an air-conditioner manufacturer, faces intense pressure from its home market will have resulted in the company making quality sure conditioners in order to sustain the pressure and have an edge over its local competitors. Therefore, the company will do better abroad as a result of this.

The correct option is B.

6 0

3 years ago

Rx Corp. stock was $60.00 per share at the end of last year. Since then, it paid a $1.00 per share dividend last year. The stock

Aleksandr-060686 [28]

Answer:

Percentage Return = 5.83%

Explanation:

Given data:

per share cost =$60.00

dividend $1.00 per share

stock price $62.50

total number of share = 400

WE know that return is given as

Return = (Ending Value - ( Beginning Value + Income)

where,

Ending value = stock price* number of shares

Beginning value = per share cost * number of shares

income = dividend* number of shares,

so we have return value

= ($62.50 x 400) - ($60.00 x 400 + $1.00 x 400) = $1400

$Percentage\ Return = \frac{1400}{60 x 400}$

Percentage Return = .0583

Percentage Return = 5.83%

3 0

3 years ago

Canton Corp. produces a part using an expensive proprietary machine that can only be leased. The leasing company offers two cont

Brut [27]

Answer:

Explanation:

a)

1. Unit rate lease

Unit Contribution margin = Unit Selling price – Unit Variable cost

= 40 - 24 = $16

Break even point (units) = Fixed cost/Contribution margin per unit

= 200,000/16 = 12,500

2. Flat rate lease

Unit Contribution margin = Unit Selling price – Unit Variable cost

= 40 - 20 = $20

Break even point (units) = Fixed cost/Contribution margin per unit

= 260,000/20 = 13,000

b.)

Let at X units produced profit margin is same under both the lease options

40X - 24X - 200,000 = 40X - 20X - 260,000

16X - 200,000 = 20X - 260,000

4X = 60,000

X = 15,000

If 15,000 units are produced, profit margin will be same under both the lease options.

c)

1. Unit rate lease

Contribution margin income statement

Sales (20,000 x 40) 800,000

Variable cost (20,000 x 24) - 480,000

Contribution margin 320,000

Fixed cost - 200,000

Operating income 120,000

Operating leverage = Contribution margin/Operating income

= 320,000/120,000 = 2.67

2. Flat rate lease

Contribution margin income statement

Sales (20,000 x 40) 800,000

Variable cost (20,000 x 20) - 400,000

Contribution margin 400,000

Fixed cost - 260,000

Operating income 140,000

Operating leverage = Contribution margin/Operating income

= 400,000/140,000 = 2.86

d)

1. Unit rate lease

Margin of safety = Actual sales - Break even sales

= 20,000 x 40 - 12,500 x 40

= 800,000 - 500,000

= $300,000

Margin of safety (%) = Margin of safety/Actual sales

= 300,000/800,000 = 37.5%

2. Flat rate lease

Margin of safety = Actual sales - Break even sales

= 20,000 x 40 - 13,000 x 40

= 800,000 - 520,000

= $280,000

Margin of safety (%) = Margin of safety/Actual sales

= 280,000/800,000

= 35%

5 0

3 years ago

You are currently spending much​ time, effort and money on your education. economists call education an investment in

You are currently spending much time, effort and money on your education. economists call education an investment in