1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Black_prince [1.1K]
3 years ago
6

Lexi buys a food processor and uses it without any problems. She loans the processor to Jill, and Jill is injured when a part fl

ies off the machine. If the former rule of privity of contract were in place, which of the following would be true?
Business
1 answer:
Damm [24]3 years ago
7 0

Answer:

Jill cannot hold the manufacturer responsible for her injury.

Explanation:

The above question is incomplete as there are several answer options which are listed below;

• Jill can hold the manufacturer liable for her injury as long as Lexi was in the room when she got

• Jill can hold the manufacturer liable for her injury

• Jill cannot hold the manufacturer responsible for her injury

• Lexi can hold the manufacturer liable for Jill's injury.

The above answer - Jill cannot hold the manufacturer responsible for her injury, is true according to the rule of privity of contract. The rule states that a person who is not a party to a contract does not have right to sue or be sued and to enforce the obligations arising from the contract, unlike a person who is a party to the contract.

With regards to the above scenario, Lexi, who buys a food processor is the party to the contract here, hence can sue and be sued in case of any injury suffered by her, however, Jill whom food processor was loaned to, is the third party here, hence not covered by the rule of privity of contract.

You might be interested in
Social capital is the major component of what accountants call _____, and it can be found on business's balance sheet.A. doubtfu
tamaranim1 [39]

Answer:

Goodwill

Explanation:

According to my research on different financial terminology, I can say that based on the information provided within the question this is what accountants call Goodwill. In regard to financing, goodwill refers to when a company or organization acquires another entire business, therefore this is why social capital is a major component of, because it is a capital asset acquired from society.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
Many financial decisions require the analysis of uneven,or nonconstant: cash flows stock dividends typically increase over time
pshichka [43]

Answer:

       

           \large\boxed{\large\boxed{\$ 1,328.63}}

Explanation:

Since the four<em>-cash-flow stream</em> is <em>uneven</em>, the manual calculation involves the calculation of four separate present values which you have to add.

The <em>cash flows </em>are:

  • Year 1: 700
  • Year 2: 355
  • Year 3: 240
  • Year 4: 320

The required rate of return is r = 10% = 0.10

The formula that you must use is:

               PV=\frac{CF_1}{(1+i)^1}+\frac{CF_2}{(1+i)^2}+\frac{CF_3}{(1+i)^3}+\frac{CF_4}{(1+i)^4}

Where <em>PV </em>is the <em>present value</em>; CF₁, CF₂, CF₃, CF₄ are the cash flows of the years 1, 2, 3, and 4 respectively, and i is the annual return.

Substituting:

             PV=\frac{700}{(1+0.10)^1} +\frac{355}{(1+0.10)^2} +\frac{240}{(1+0.10)^3} +\frac{320}{(1+0.10)^4}

             PV=\$ 636.36+\$ 293.39+\$ 180.31+\$ 218.56=\$ 1,328.63

3 0
3 years ago
On June 30, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on
mezya [45]

Answer:

A. $1,280,600

B. $1,280,600

Explanation:

A. Preparation of an absorption costing income statement.

Tudor Manufacturing Co.

Absorption Costing Income Statement

For the Month Ended June 30, 2014

Sales (420,000 units) $7,450,000

Cost of goods manufactured $7,160,000

(500,000 units x $14.32 per unit)

($160,000 / 500,000 units = $0.32 per unit)

($14 per unit + $0.32 per unit = $14.32 per unit)

Less ending inventory $1,145,600

(80,000 units x $14.32 per unit)

Cost of goods sold $6,014,400

Gross profit $1,435,600

($7,450,000 - $6,014,400)

Selling and administrative expenses:

Variable selling and administrative expenses $80,000

Fixed selling and administrative expenses $75,000 $155,000

Income from operations $1,280,600

($1,435,600 - $155,000)

Therefore the absorption costing income statement will be $1,280,600

B.Calculation to Reconcile the variable costing income from operations of $1,255,000 with the absorption costing income from operations determined in (a)

First step is to calculate ending inventory difference

Ending inventory difference = $1,145,600 - $1,120,000

Ending inventory difference = $25,600

Now let Reconcile the variable costing income from operations

Reconciliation of Variable Costing and Absorption Costing Incomes from Operations

Variable costing income from operations $1,255,000

Add: Difference between absorption costing and variable costing ending inventories $25,600

Absorption costing income from operations $1,280,600

($1,255,000+$25,600)

Therefore the variable costing income from operations of $1,255,000 with the absorption costing income from operations determined in (a) will be $1,280,600

8 0
3 years ago
A company that makes modular bevel gear drives with a tight swing ratio for optimizing fork-lift vehicles was told that the inte
Troyanec [42]

Answer:

The APY is 14.9%

Explanation:

To find the annual percentage yield we need to compute the effective annual rate of interest.

The Effective annual rate of return(EAR) is the equivalent rate to be paid where compounding is done frequently at period or interval less than a year.

Compounding implies the regular interval when interest is always computed; in this scenario, it is monthly.

The EAR can be worked out as follows

EAR = ( (1+r)^m - 1 ) × 100

r- interest rate per period

m- number of periods in a year

EAR - Effective annual rate

r = 3.5%/3 = 1.167 % per month

m= number of months in a year = 12

EAR =( 1.01167^12-1)× 100 = 14.9%

The APY is 14.9%

This implies the quoted interest rate of 3.5% per quarter is the same as paying 14.9% per year

5 0
3 years ago
d Corporation purchased a depreciable asset for $840300 on January 1, 2018. The estimated salvage value is $87000, and the estim
Dominik [7]

Answer:

$221,600

Explanation:

The computation of the depreciation expense for the year 2021 is as follows:

Depreciation expense is

= (Cost - Salvage value) ÷ Useful life

= ($840,300 - $87,000) ÷ 9

= $83,700 per year

Now the book value would be

= $840,300 - ($83,700 × 3 years)

= $589,200

And, finally the revised depreciation is

= ($589,200 - $146,000) ÷ 2

= $221,600

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0
2 years ago
Other questions:
  • A consultant was telling newly-hired salespeople about techniques they can use to increase sales. at one point he was talking ab
    14·1 answer
  • You have just finished reading an article in a personnel journal about compensation plans. The turnover rate in your firm is too
    9·1 answer
  • Taka is considering sending a message regarding a raise but is concerned since the company is struggling financially. Taka has d
    9·1 answer
  • _____________, is the measure of how popular a product is. a) Marketability b) Profitability c) Popularity d) Consumability
    13·1 answer
  • On January 1, 2018, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that
    15·1 answer
  • Tuna Corporation reported pretax book income of $1,000,000. During the current year, the net reserve for warranties increased by
    12·1 answer
  • The GoT cups are a fast seller and you need to ensure that you have enough rolls of paper to fulfill demand. The first stage in
    5·2 answers
  • Individual Activity 1: Marty and the Martins
    5·2 answers
  • Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea
    12·1 answer
  • 1. I tend to be critical of others?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!