Answer and Explanation:
The preparation of the balance sheet is presented below:
Assets
cash $11,000
account receivable $15,000
equipment $10,000
buidlings $65,000
land $31,000
Total assets $132,000
Liabilities and stockholder equity
Account payable $11000
common stock $80,000
retained earnings $41,000
Total Liabilities and stockholder equity $132,000
Answer:
The correct answers are: 1. voidable, 2. capacity, 3. consent
Explanation:
For a contract to be legally valid, the concurrence of three essential requirements or elements is required, which are: the consent of the contracting parties, the true object that is the subject of the contract and the cause of the obligation to be established.
The consent is the manifestation of will of the parties, consisting of the concurrence of the offer and its acceptance, on the object and the cause of the contract. Any consent given by error, violence, intimidation or intent is void.
The purpose of the employment contract is the provision of paid services for others. Services contrary to laws or good customs, nor those that are outside the trade of men, cannot be subject to the contract.
Example: The provision of prostitution or drug trafficking services cannot be the subject of the employment contract.
Answer:
Produce more of the good that generates external cost and less of the good that creates external benefit.
Explanation:
External benefits refer to the situation where the benefit of production of goods or services goes to a third party that is not directly involved in the process of production.
Similarly, external cost refers to the situation where the cost of production of goods and services is borne by a third party which is not directly involved in the process of production.
A competitive market economy would tend to produce more of the good that generates external cost and less of the good that creates external benefit. This is because in case of external cost the private cost will be lower than social cost, so the firms will be able to produce more of the good.
The answer in the space provided is personality. It is because their personality is also a main contributor of their performance as this will shape on how they do things and how they affect other people, such as how they show their performance and their way of connecting or socializing towards others.
