Answer:
Misrepresentation
Explanation:
A misrepresentation is simply a false statement of fact made by one individual/ party to another. It is usually not according to the a term of the contract as it also induces the other party to enter the contract.
The solicitor is guilty of misrepresentation due to the fact that he lied about reading the documents about the land. It also renders the contract voidable and it also give rise to a right to damages depending on type of misrepresentation that has happened. For a misrepresentation to be actionable, there must be an untrue statement; it must be a statement of fact, not mere opinion and it must have induced the innocent party to enter the contract.
Mike relied.on the solicitor to provide both knowledge and honesty.
Answer:
Sale of plant assets. If the company<u> sales an equipment it will receive cash </u>for it. We are not given with any information of this transaction not being in cash, so we should assume it was a sale in cash or cash equivalent.
Explanation:
<u>Conversion of bonds into common stock.</u> The bonds, which are outstanding and represent a promise to pay, are converted into common stock, this transaction doesn't involve cash.
<u>Issuance of common stock to purchase land. </u>The land is acquire in exchange of common stock, the company is not using cash. the owner of the land can later sold the stock to a third party but it won't affect the cash flow of the company.
<u>Issuance of debt to purchase equipment </u>Like singing a note to purchase a machine, no cash is involve.
Answer:
Answer is 1,200,000
Explanation:
return on sales after taxes = 6%
effective income tax rate = 40%, contribution margin = 30%.
Robin has fixed costs = $240,000,
We are to find the amount of sales required to earn the desired return using the information above.
Profit = Contribution - Fixed Cost
Assuming sales = K
6/(100-40)K = (30/100)K -240,000
0.1K =0.3K -240,000
0.2K =240,000
K = 240,000/0.2
so K =1,200,000.
<span>produce goods and pay workers</span>
Answer:
Equal Credit Opportunity Act
Explanation:
Equal Credit Opportunity Act prohibits discrimination against credit applicants, among other reasons, because of their age.
While the person granting the credit may request extra personal information, they cannot use that information to decide whether they will grant credit or to establish the terms of their credit.