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Lelechka [254]
3 years ago
6

Max purchased an antique watch from a local store for $500. As soon as Max stepped outside the shop with the watch, a man approa

ched him claiming that the watch was actually his and had been stolen over a week ago. He claimed that the watch was personalized with his initials and showed Max his driver's license. Max checked the watch and realized that he was in fact the owner of the watch. In the context of rights of ownership, which of the following is true in this scenario?a. Max has title to the watch since he purchased it in good faith, without knowing that it was stolen.b. Max has title to the watch as it was a legitimate purchase, whether or not he knew it was stolen.c. Max should return the watch to the store owner, who has title to the watch because he sold it.d. Max should return the watch to the man who approached him, as this man is the actual owner.
Business
1 answer:
yawa3891 [41]3 years ago
8 0

Answer:

D) Max should return the watch to the man who approached him, as this man is the actual owner.

Explanation:

A thief that steals goods cannot pass good title of them, so any sale to a third party can be voided and the goods must return to their proper owner.

In this case even if Max purchased the watch in good faith, he must return it to its original owner. So now Max's only hope to recover some money is to sue the antique watch store.

It would be different if the store had committed fraud in order to get the watch and then sold it to Max. When a third party in good faith purchases goods obtained through fraud, good title passes to the buyer.

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Vladimir [108]

Answer and Explanation:

The indication of the account, amount and the direction of the effect are as follows

As we know that

Accounting equation is

Total assets = Total liabilities + stockholder equity

Based on this, the indication and the direction aare as follows

        Assets                  =              Liabilities            +            Stockholders' Equity

A)        $13,000              =                   0                    +                 $13,000

It increased both the assets and the stockholder equity i.e capital

B)        $10,000                 =                $10,000        +                     0

It increased both the assets and the liabilities

C)       $1,100                   =                $1,100                +                     0

It increased both the assets and the liabilities

D)    +$18,000 -$1,600       =             $16,400            +                     0

It increased the land by $18,000 and decreased the cash by $1,600 and at the same time it increased the liabilities by $16,400

E)      +$6,000 -$1,600      =                  $4,400              +                    0          

It increased the equipment by $6,000 and decreased the cash by $1,600 and at the same time it also increased the liabilities by $4,400

Total   $44,900                 =                  $31,900              +                 $13,000

4 0
3 years ago
Abbott Inc. owns 30% of the outstanding voting shares of Berta Inc. On the date of acquisition, the fair value of Berta's equipm
Vitek1552 [10]

Answer: During the year after the acquisition, the undervalued equipment will exceed Abbott's investment revenue by $1,200.

Explanation:

Multiply the amount exceeded of its carrying value by the % shares owned by Abbott.

Then divide the result by the useful life value of Barta's equipments

= (20,000 x 30%) / 5

= $1,200

3 0
3 years ago
Administrative assistants are categorized in what occupational group?
oksano4ka [1.4K]

Answer:

43-0000 Office and Administrative Support Occupations (Major Group)

Explanation:

3 0
3 years ago
Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fi
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Answer:

Please consider the following explanation

Explanation:

a.   EOQ = 560 units

b.  58800 units/560 units = 105 orders

c. EOQ/2 = 560/2 = 280 units (average inventory)

d.  105 orders × $4 ordering cost = $ 420

280 units × $1.50 carrying cost per unit =  420

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8 0
3 years ago
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Oxana [17]

Answer:

A. a separate schedule.

Explanation:

This is explained to be cash flow schedule or also cash flow statement. It is explained to be on out of the three financial statement which used generally to report for cash which been generated and how this money has been totally been spent within a period or interval which could be a week, month, quarter or even probably a year.

In the statement of cash flows, the cash flows are known to be generated from investing activities section while inclusion of receipts from the sale of investments. This is why in the stated 20 year payable bond, it is known to have been recorded in statement of cash flows in a separate schedule.

4 0
3 years ago
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