Answer: c. $300,000
Explanation:
Here, the shipping costs from overseas is part in inventory costs whereas the shipping costs to export are part of expense not inventory.
Given: Purchases during the year $15.0 million
Shipping costs from overseas$1.5 million
Shipping costs to export customers$1.0 million
Inventory at year end $3.0 million
Amount of shipping costs should be included in ABC Trading's year-end inventory valuation = (Inventory at year end)÷(Purchases during the year ) × (Shipping costs from overseas)
= ($3,000,000) ÷ ($15,000,000) × ($1,500,000)
= $300,000
Hence, the correct option is c. $300,000.
An air defense system can be divided into 2 categories.
Explanation:
The U.S. military relies on a variety of missiles launched from finger-held to vehicle assembled systems. The Air Defense Artillery was the anti-aircraft weapons branch (for example, surface-to-air rockets).
The Missile Defense Agency's purpose is to protect stationed forces, allies, and partners, via a layered missile defence system, against hypersonic and ballistic missile threats of all kinds.
For example, two strong radars have been used on a landing pad in the Pacific to detect ICBM, another on Wake Island. The destination also was tracked by satellites equipped with infrared sensors.
Answer: The answer is JOINT TENANCY
Explanation: What is joint tenancy?
This is a legal arrangement whereby two or more people jointly own a property, in this arrangement, all owners have equal rights and obligations to the property. When one of the owners die, that owner's stake in the property goes to the surviving owners without having to pass through the court, because of the right of survivorship.
So the type ownership between Sam and Bridget above is a Joint Tenancy.
Answer:
<u>Executed</u>
Explanation:
Ratification of a contract refers to formally approving a contractual obligation. To dis-affirm refers to back out of a contract wherein the parties to it return the consideration.
A minor, an individual below the age of eighteen years does not have capacity to a valid contract. A minor may void a contract before attaining majority.
When a contract has been signed by both the parties to it, with transaction closed, the contract shall be termed as executed.
In the given case, Luke a minor entered a contract to buy movies. Later upon attaining majority, Luke decides to disaffirm i.e not honor it. The contract in such a scenario shall be considered as formally approved i.e ratified by both parties if it was executed.
In such a case, Luke will have to honor the contract since the disaffirmation period i.e before his attaining majority has lapsed.
