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Ulleksa [173]
3 years ago
12

Edward and Tony are fraternity brothers. Edward has a dinner party to celebrate getting a new job. Tony helps Edward out with th

e dinner party, coming 3 hours before, helping with cooking, buying the ingredients for the dinner, and party set up, and staying after, to help with clean up after. The next day, Edward promises Tony that Edward will pay Tony $100 because of all the help Tony provided the day before at the dinner party. Is Edward's promise enforceable? Why or why not?
Business
1 answer:
stealth61 [152]3 years ago
8 0

Answer:

Edward's promise is not enforceable.  Tony had already performed the act.  He did not perform based on Edward's promise.  He performed because of their fraternal brotherhood.

Explanation:

This situation looks like a unilateral contract whereby Edward makes a promise to Tony to pay him $100.  However, we observe that Tony did not perform his actions in consideration of this reward.  He performed because they were fraternity brothers.  Therefore, Tony cannot enforce Edward's promise in any court.  It is only left for Edward to fulfill his promise as a gentleman, not because he is legally obliged to.

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Data concerning Lemelin Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 230 100 % Variable
kompoz [17]

Answer:

Overall Net Income=-$7,800

Overall Net income decreases by $7,800

Explanation:

                                        Current                           New (After changes)

Units Selling                   7,000                            7,000+1,600=8600

Sales                       (7000*$230)                         Drop of $18, so S.P=$212

                                  =$1,610,000                       (8,600*212)=$1,823,200      

Variable Exp           (7000*$115)=$805,000         (8,600*115)=$989,000

(AT $115)

Contribution          $1,610,000 -$805,000       $1,823,200-$989,000

Margin                        =$805,000                               =$834,200

Fixed Expense             $581,000                          ($581,000+$37,000)

                                                                                      =$618,000

Net Operating          $805,000-$581,000            $834,200-$618,000

Income                          =$224,000                              =$216,200

Overall Net Income=New Income-Current Income

Overall Net Income=$216,200-$224,000      

Overall Net Income=-$7,800

Overall Net income decreases by $7,800

5 0
3 years ago
If a gain of $7,000 results from selling (for cash) office equipment having a book value of $55,000, the amount reported in the
Marina CMI [18]

Answer:

The amount reported in the Cash flows from operating activities is - $7,000.

Explanation:

Cash flow from Operating Activities under indirect method reconciles the <em>Operating Profit</em> to the <em>Operating cash flows</em> by making adjustments on Operating Profit for non-cash items previously added or deducted from it as well as changes in working capital.

The gain was previously added to reach Operating Profit there, this is deducted to arrive at Operating Cash flow figure since the gain on sale is a non-cash item.

The amount reported in the Cash flows from operating activities is - $7,000.

6 0
4 years ago
You are working on a brochure about your business. The type for the body text will be black and that for the section headings wi
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The correct designing principles that will be implemented to create the brochure will be Contrast and Repetition.

In the question, it is stated that a brochure has to be made for the business. The brochure will be designed such that the text will be in black color, the section headings will be blue, etc. In order to create such a brochure, the Designing principles will include Contrast and Repetition.

Contrasting and Repetition are based on making people visualize and highlight the key points of the brochure. It is basically based upon creating a contrasting difference between and highlighting the important key points in the brochure.

To know more about Advertising, Click here:

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7 0
1 year ago
Which of the following must be true in order for materials to be classified as direct materials? a.They must be an integral part
inysia [295]

Answer:

a. They must be an integral part of the finished product and be a significant portion of the total product cost.

Explanation:

The Direct material is supply which is consumed during the production of a product. The direct material should be an integral part in the finished good. Consumables are not direct material. To become direct material the raw supplies should be a significant portion of the total cost. There is no direct material in a service business. The finished product should contain the direct material and the material must be an integral part of the final product.

3 0
4 years ago
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vivado [14]

Answer:

The answer is post purchase dissonance.

Explanation:

Post purchase dissonance is a sort of a psychological dilemma that makes the purchaser worry about his or her purchase decision after the purchase is made.

To avoid such dilemmas, always consider whether an item is truly necessary. Moreover, compare the item with several other brands and look at customer reviews online.

7 0
4 years ago
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