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dalvyx [7]
3 years ago
11

Lacy set her textbook under her chair in her business law class and then forgot to take it with her when she left the classroom.

A janitor later discovered the textbook and gave it to the Dean of the Business College. In this situation:___________.a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.b. the college is a bailee by agreement because holding items in a lost and found box is generally part of the college-student agreement when the student enrolls for classes.c. the college is responsible for the discovered textbook because in this situation, the college is subject to implied warranties unless the college has disclaimed such warranties in the student handbook.d. this is a bailment for the sole benefit of the bailee.
Business
1 answer:
rosijanka [135]3 years ago
4 0

Answer:

a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.

Explanation:

When a party comes into possession of a property not by contractual agreement, they are referred to as constructive bailee and are obligated to take care of the property till it is returned to the owner.

The bailee does not willingly take possession of the property, rather unforseen circumstances leads to them possessing it.

This is common when a person forgets his property in a place.

In the given scenario the college (Dean of Business College) became a constructive bailee when they recieved the misplaced textbook. So they are obligated to care for the textbook till it get back to Lacy or be held liable for any harm done

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Anvisha [2.4K]

Answer:

Cullumber Company

The ending inventory is:

= $4,888.

Explanation:

a) Data and Calculations:

Item      Units     Unit Cost     Net Realizable Value   Value of Ending

Cameras:                                                                       Inventory (LCNRV)

Minolta      3            $172                 $152                             $456 ($152 * 3)

Canon       9              140                   170                              1,260 ($140 * 9)

Light meters:

Vivitar      13              130                   100                              1,300 ($100 * 13)

Kodak     16               117                    128                              1,872 ($117 * 16)

Total value of Ending Inventory based on LCNRV =          $4,888

b) The Lower of cost- or net realizable value method of valuing ending inventory determines the value by choosing the lower value between the cost price of the inventory and the net realizable value.  The purpose that is served by using the LCNRV method is that it reflects the decrease of inventory value when it goes below its original cost while at the same time it does not recognize the increased market value when the cost is lower.

4 0
3 years ago
8+x=18. Solve for x.
adoni [48]
Just take away 8 from both sides so you're left with x=10
3 0
3 years ago
Which of the following is an advantage of using technology in recruiting?
mafiozo [28]
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6 0
3 years ago
To find the annual rate of return on any given stock, add the stock's dividend for the year plus the change in the stock's price
katrin2010 [14]

Answer:

The statement is: True.

Explanation:

The Annual Rate of Return or Yearly Rate of Return is the amount earned over an investment within one year. It is typically represented as a percentage and takes into consideration capital appreciation and the payment of dividends. The formula to calculate the annual rate of return is the following:

Annual Rate of Return = (EYP - BYP)/BYP X 100%

Where:

EYP = End of year price

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8 0
3 years ago
A share of stock is now selling for $115. It will pay a dividend of $9 per share at the end of the year. Its beta is 1. What do
natali 33 [55]

Answer:

The expected price of the stock is $122.03

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To calculate the expected price of the stock at the end of the year or at Year 1, we first need to determine the required rate of return on the stock. We will use the CAPM equation to calculate the required rate of return.

The required rate of return is calculated as,

r = rRF + Beta * (rM - rRF)

Where,

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r = 0.05 + 1 * (0.14 - 0.05)

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We already have the price of the stock today, the D1 and the required rate of return. Using the constant dividend growth model of DDM, we calculate the growth rate in dividends to be,

P0 = D1 / (r - g)

115 = 9 / (0.14 - g)

115 * (0.14 - g)  =  9

16.1 - 115g  =  9

16.1 - 9 = 115g

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g = 0.0617 or 6.17%

Using the same formula and replacing D1 with D2, we can calculate the price of the stock at the end of the year or at start of Year 1.

P1 = 9 * (1+0.0617)  /  (0.14 - 0.0617)

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4 0
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