Case 1 - A friend buys you a cup of coffee at Tim
Hortons during "Roll up the Rim to Win". You roll up the
rim and win the grand prize.
1. Who does the prize belong to? You, your friend, or
do you have to share? Discuss your rationale.
Case 2 - Arnold owned three building units (A, B,C) in a
commercial development. As a result of some financial
difficulties he emailed Bob as follows, "I will sell you one
of my units for $150,000. Bob immediately emails back,
"I accept the offer.
2.
Is an email exchange such as this one valid in
forming a contract?
Case 3 - Monica invited Brody to the New Year's dinner
and dance. Brody accepted the invitation and agreed to
accompany Monica, who purchased the tickets and
arranged a limo. Two days before the dance, Brody tells
Monica that he is no longer interested in going to the
dance with her.
3. What contract formation issue could determine
whether a contact has been formed.
Answers
Case 1:
In the case of winning the grand prize from rolling up the rim on a cup of coffee bought by a friend, the prize would generally belong to the person who rolled up the rim and won.
The rationale behind this is that the act of rolling up the rim and the resulting prize is a matter of chance and luck. Since the friend bought the coffee as a gift, they would not have any ownership rights or claim to the prize unless there was a prior agreement or understanding between the friends that they would share any winnings. Absent such an agreement, the prize would belong to the person who rolled up the rim and won.
Case 2:
An email exchange can be valid in forming a contract, depending on the circumstances and the applicable laws. In this case, Arnold emailed Bob with an offer to sell one of his building units for $150,000, and Bob immediately accepted the offer via email.
This exchange can potentially form a valid contract, provided that certain legal requirements are met. These requirements may include elements like offer, acceptance, consideration, and intention to create legal relations. However, the validity of the contract formed through email exchange can be subject to specific legal regulations and jurisdictional variations.
Case 3:
The contract formation issue that could determine whether a contract has been formed in this scenario is the concept of consideration. Consideration refers to something of value that is exchanged between the parties as part of a contract.
In this case, Monica invited Brody to the New Year's dinner and dance, and Brody accepted the invitation. Monica then purchased tickets and arranged a limo for the event. However, two days before the dance, Brody informs Monica that he is no longer interested in going with her. In this situation, the issue of consideration arises because Monica provided consideration by purchasing the tickets and arranging transportation, while Brody's acceptance of the invitation may be considered as consideration as well. If both parties provided consideration, a valid contract may have been formed, and Brody's withdrawal from the agreement could potentially be seen as a breach of contract.
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Related Questions
Matt works part-time and is paid $6.75 per hour. Determine Matt's gross pay (hours worked x hourly rate of pay) for last week when he worked 20.25 hours. Round your answer to the hundredths place.
Answers
Answer:
Matt's gross pay (hours worked x hourly rate of pay) for last week when he worked 20.25 hours is equal to $136.69
Explanation:
Per hour amount paid to Matt = $6.75
Total number of hours worked by Matt = 20.25
To find Gross pay, multiply hours worked and hourly rate of pay.
Therefore,
Matt's gross pay (hours worked × hourly rate of pay) for last week when he worked 20.25 hours \(=20.25(6.75)=\$136.6875\) ≈ $136.69
Which of the following is a contract with a condition subsequent? O Raymond bought a GPS system but he may return the GPS system within ten days and get all of his money back if he is dissatisfied O Regina agrees to buy a new laptop if she is hired at the court as an investigator O ALL of the answers are correct O Rhoda enters into a contract to buy new truck conditional upon her getting approved for a loan from her bank
Answers
The correct answer is Rhoda enters into a contract to buy a new truck conditional upon her getting approved for a loan from her bank.
A contract with a condition subsequent is one where the performance or continuation of the contract is contingent upon the occurrence or non-occurrence of a specific event. In this case, Rhoda's contract to buy a new truck is conditional upon her getting approved for a loan from her bank. If she fails to secure the loan, the condition is not met, and the contract becomes void or unenforceable. The approval of the loan is the condition subsequent that determines the validity and performance of the contract.
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13. Equipment that cost $659000 and has accumulated depreciation of $289000 is exchanged for equipment with a fair value of $480000 and $120000 cash is received. The exchange lacked commercial substance. What amount of the gain is to be recognized from the exchange
Answers
The amount of gains that are to be considered for exchange of the equipment will be around $46,000.
What are gains?
The excess amount benefitted from a financial transaction are known as gains. Using the information above, the gains will be calculated as:
\(\rm Gains= (Fair\ Value+ Cash\ Received) - (Cost- Depreciation\ Value)\\\\\rm Gains=600000-370000\\\\\rm Gains=230000\)
However, the actual realized gains for the exchange of equipments will be as:
\(\rm Realizable\ Gains\ = 230000\ x\ \dfrac{120000}{600000}\\\\\rm Realizable\ Gains\ = \$46000\)
Hence, the gains realized from the exchange of equipment will be $46,000.
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what is the price of a 15-year, $1,000 face value, zero coupon bond, if the ytm is 10%? round to the nearest cent. do not include a dollar sign in your answer. (i.e. if your answer is $432.51, then type 432.51 without $ sign)
Answers
The price of the 15-year, $1,000 face value, zero coupon bond is $247.20 (rounded to the nearest cent).
The price of a zero coupon bond can be calculated using the formula:
Price = Face value / (1 + YTM/100)^n
where n is the number of years until maturity.
Substituting the given values into the formula, we get:
Price = 1000 / (1 + 0.10/100)^15
Price = 1000 / (1.10)^15
Price = 1000 / 4.046
Price = 247.20
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In alphabetical order below are current asset items for Splish Brothers Company's balance sheet at December 31, 2022. Prepare the current assets section. SPLISH BROTHERS COMPANY Balance sheet (Partial) ASSETS $ $ $
Answers
The current assets section of a balance sheet represents the assets that a company expects to convert into cash or use up within one year or the operating cycle, whichever is longer. In this case, we have a partial balance sheet for Splish Brothers Company, and we need to prepare the current assets section.
To prepare the current assets section, we need to list all the current assets in alphabetical order and their respective amounts. Some of the common current assets include cash and cash equivalents, accounts receivable, inventory, prepaid expenses, and short-term investments.
Once we have listed all the current assets, we need to total them up to arrive at the total current assets for the company. The total current assets provide an indication of the liquidity of the company, and it's essential for the company's creditors and investors.
In conclusion, to prepare the current assets section of Splish Brothers Company's balance sheet, we need to list all the current assets in alphabetical order and their respective amounts, and then total them up to arrive at the total current assets for the company. The current assets section of the balance sheet is important because it helps investors and creditors determine the company's ability to meet its short-term obligations.
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Which player in the economy supplies labor in the factor market?
a. Government
b. Households
c. Business firms
d. Rest of the world
Answers
The player in the economy which supplies labor in the factor market is the households.
What is supply of labor?This refers to the number of labor who are willing and able to find work in an economy. The supply for labor is also the hours worked by a workers within a time period.
Hence, the player in the economy supplies labor in the factor market is the households.
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Answer: Households
HouseHolds supply the factor market.
when a problem is frequent, repetitive, and routine, with much certainty regarding cause-and-effect relationships, a __________ decision may be taken.
Answers
When a problem is frequent, repetitive, and routine, with much certainty regarding cause-and-effect relationships, a programmed decision may be taken. A programmed decision is one that is made based on established procedures or guidelines, as the situation is familiar and predictable.
The use of programmed decisions should be limited to noncritical situations. Programmed decisions generally do not demand much consideration or discussion and can typically be automated to make certain consistency and save time for decision-makers. These kinds of decisions are most often known for at certain points in a standard process, and are planned relying on recognized and easily identifiable terms.
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Where do u record sundry expenses in a purchase ledger
Answers
Answer:
Sundry expenses are shown on the expenses side (left) of a profit and loss account (Income statement).
Explanation:
Answer:
Sundry expenses are shown on the expenses side (left) of a profit and loss account.
Select the correct answer.
What is an opportunity cost?
Olost benefits of other opportunities
cost of taking up an opportunity
costs incurred to receive the benefits of an opportunity
O costs incurred when the wrong opportunity is selected
Answers
Answer:
lost benefits of other opportunities
Explanation:
Answer: lost benefits of other opportunities
Explanation:
Drag each option to the correct location.
Match the scenarios to the factors that affect the labor market.
foreign direct investment
outsourcing
immigration
Answers
Each scenario should be matched to the factors that affect the labor market as follows:
Immigration: Carlos is moving from Mexico to the United States because he got a job in a bank. He had his interview last month, and the bank agreed to hire him because he was willing to work for 10% less than most American workers, even though he has the same qualifications.Foreign direct investment: A US supermarket chain is going to open a few supermarkets in Europe because a recent survey showed that the chain has a huge potential for profits in Europe.Outsourcing: A renowned US information technology firm has recently signed a contract with a company based in the Philippines. The Filipino company will handle the accounts of the US firm. The US firm made this decision to reduce labor costs.What is immigration?Immigration can be defined as the movement of a group of people from one geographical region to another geographical destination such as a city, especially in search of any of the following:
Good governanceSecurityBetter living conditions.WorkJobsSocial amenitiesWhat is a foreign direct investment?A foreign direct investment (FDI) simply refers to a type of investment which is made by an individual or business organization (investor) into an investment market that is located in another country.
In conclusion, an example of foreign direct investment (FDI) is a US supermarket chain that is planning to open a few supermarkets in a country in Europe.
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Answer:
Post Test: Free Market and Businesses
Unit: 2
Economics
Question #12
__________________________________________________________
This is 100% right because I took the test
Go to explanation for picture with answers
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Explanation:
Here's the picture and I hope this helped!
Have a nice day!
Alias Shipping negotiate the purchase of trucks with a supplier of delivery vehicles. Alias sets it's is reservation price at 1,750,000, 000. The supplier will not sell the vehicle for less than 2,250,000 what is the ZOPA?
Answers
Answer:
There is no ZOPA.
Explanation:
ZOPA here refers to the price range that is agreeable by parties to an ongoing deal, in which both negotiating parties feel satisfied.
Note that, it is possible for there to be no ZOPA when the lowest possible price by the seller is far greater than the price offered by the buyer.
In this case Alias Shipping the buyer has a reservation price that is very much lower than that of the seller thus leading to no ZOPA.
Amy and Brian were investigating the acquisition of a tax accounting business, Bottom Line Inc. (BLI). As part of their discussions with the sole shareholder of the corporation, Ernesto Young, they examined the company's tax accounting balance sheet. The relevant information is summarized as follows:FMV Adjusted Basis AppreciationCash $ 10,000 $ 10,000 Receivables 15,000 15,000 Building 100,000 50,000 50,000Land 225,000 75,000 150,000Total $ 350,000 $ 150,000 $ 200,000Payables $ 18,000 $ 18,000 Mortgage* 112,000 112,000 Total $ 130,000 $ 130,000 * The mortgage is attached to the building and land.Ernesto was asking for $400,000 for the company. His tax basis in the BLI stock was $100,000. Included in the sale price was an unrecognized customer list valued at $100,000. The unallocated portion of the purchase price ($80,000) will be recorded as goodwill.Assume Ernesto agrees to sell his stock in BLI to Amy and Brian for $400,000.a. What amount of gain or loss does BLI recognize if the transaction is structured as a stock sale to Amy and Brian? What amount of corporate-level tax does BLI pay as a result of the transaction, assuming a tax rate of 21 percent? (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.)b. What amount of gain or loss does Ernesto recognize if the transaction is structured as a stock sale to Amy and Brian? (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.)What are the tax benefits, if any, to Amy and Brian as a result of structuring the acquisition as a stock sale?Amy and Brian get to write-up the tax basis of the assets to fair market value.No tax benefits.
Answers
a. In the transaction structured as a stock sale to Amy and Brian, BLI does not recognize any gain or loss. Since this is a stock sale and not an asset sale, the corporation itself doesn't experience a change in its assets or liabilities. Therefore, the corporate-level tax BLI pays as a result of the transaction is $0, assuming a tax rate of 21 percent.
b. Ernesto recognizes a gain in the transaction structured as a stock sale to Amy and Brian. To calculate the gain, subtract his tax basis in the BLI stock from the sale price: $400,000 - $100,000 = $300,000. This is the amount of gain Ernesto recognizes from the sale of his stock in BLI.
As for the tax benefits to Amy and Brian as a result of structuring the acquisition as a stock sale, there are no significant tax benefits. Since this is a stock sale, Amy and Brian do not get to write up the tax basis of the assets to fair market value. The tax basis of the assets remains the same as it was under Ernesto's ownership.
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Finding a job that matches your skills and interests, and finding a job that has a positive job outlook are both important things to consider when selecting a career. Which do you think is more important? Why?
<< Read Less
Answers
Answer: Finding a job that matches your skill and interest.
Explanation:
This is very important and it majorly one of the key things to consider when applying for jobs. Sometimes, desperation makes people take any job without thinking if they like the job or not and this is bad as it will hinder the success of such person in the firm.
A typical example of this is applying for a job that requires proficiency in microsoft office packages and you literally have no knowledge but you only applied considering the Positive outlook of the firm, they are no two ways about this, you'd perform woefully if being asked simply because you don't possess the skill.
Finding a job that matches your skills and interest tends to make the job more enjoyable as you will be more motivated to keep the job and will find great pleasure in carrying out the task given. It also aids your career development as well, according to the saying practice makes perfect, doing what you love will continually help you to grow and develop yourself in your chosen field.
What is the answer?? I need help please
Answers
Answer:
B. The mixed economy.
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.
Basically, there are four (4) main types of economy and these are;
I. Command economy.
II. Free market economy.
III. Traditional economy.
IV. Mixed economy.
A mixed economy can be defined as a type of economy in which the government of a particular country is minimally involved in the allocation and production of goods and services while protecting the interest of the consumers and regulating the market by establishing laws.
This ultimately implies that, a mixed economy is a combination of two or more economy such as centralized economy and capitalist economy i.e the state and private sector control the economy in a country.
Marci has been offered two jobs. One is for an entry-level public relations
specialist in a big city, the other is for an entry-level public relations specialist
in a smaller town. Based on just this information, what factor might help
Marci decide which job offer to accept?
Answers
Answer: The pay offered and if she’ll be able to afford the lifestyle she wants at that location.
Explanation: yes
There are two occupations that Marci could accept. One is for a young public relations professional in a large city, the income provided, and whether she will be able to afford the lifestyle she wants there.
What do you meant by public relations?Public relations (PR) is the activity of organizing and distributing information to the general public from an individual or an organization (such as a company, a governmental body, or a nonprofit organization) in an effort to change that person's perception. Publicity is different from public relations in that publicity is not under internal control and is generated by third parties.
Public relations can be used by a business or individual to reach out to their audiences with news stories and issues of general interest without asking for money up front.
Much of the publicity comes from the media. This distinguishes it as a type of marketing communications from advertising. Instead of spending money on marketing or advertising, public relations seeks to generate or receive publicity for clients in the form of earned media.
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xcel when does an immediate annuity begin making payments
Answers
This means that the annuitant begins receiving payments from the annuity within a short period of time, such as within a month or a few months after the premium payment is made.
The exact timing of the first payment may depend on the terms of the annuity contract and the payment frequency selected by the annuitant. For example, if the annuity is set up to make monthly payments, the first payment may be made at the end of the first month following the premium payment.It's important to note that an immediate annuity is a contract between the annuitant and the insurance company, and the terms of the contract may vary. Before purchasing an immediate annuity, it's important to carefully review the terms of the contract and understand the payment schedule and other key features of the annuity.
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The competition between banks and nonbanks has ________, with the dividing line between them becoming less apparent.
Answers
The competition between banks and nonbanks has intensified, with the dividing line between them becoming less apparent.
In recent years, there has been a notable increase in competition between traditional banks and nonbank financial institutions. Nonbanks, such as fintech companies and online payment providers, have emerged with innovative financial products and services that directly compete with traditional banking offerings.
This intensified competition has blurred the boundaries between banks and nonbanks. Nonbanks have started to offer services traditionally associated with banks, such as online banking, payment solutions, lending platforms, and investment options. Conversely, banks have adapted to the changing landscape by incorporating technology and digital channels into their operations.
As a result, customers now have a wider range of options and may choose financial services from both banks and nonbanks based on factors such as convenience, accessibility, cost, and innovation. The distinction between banks and nonbanks has become less apparent as they compete for market share and seek to provide comprehensive financial solutions to meet evolving customer demands.
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when does the company go in loss
Answers
Explain why workers must understand and comply with employment conditions
Answers
Answer:
If they did not do so, they would be left without a job,t hen left without a means of supporting themselves, and supposedly their family
twelve years ago, you invested $4,800. today, your investment is worth $8,750. what is your rate of return?
Answers
To calculate the rate of return on an investment, you need to divide the profit or gain by the original investment and express the result as a percentage.
In this case, the original investment was $4,800 and the current value is $8,750, so the profit or gain is:
$8,750 - $4,800 = $3,950
To find the rate of return, divide the profit by the original investment:
$3,950 ÷ $4,800 = 0.8229
To express this as a percentage, multiply by 100:
0.8229 × 100 = 82.29%
Therefore, your rate of return is approximately 82.29%.
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What might you tell her about career resources and their importance in career selection?
Answers
Answer:
I would like to tell her that it is good that she has chosen her career but there is no harm in taking the help of the career resources as it will clarify her path and clear her conflicts if any. Moreover, it can help in her career selection and give her some ideas of the pros and the cons of the field she is choosing. Taking assistance of the resources can give major idea of the experiences and the instances from other’s life and can influence her decision in the positive way.
Explanation:
edge
PLEASE HELP ASAP!! CORRECT ANSWER ONLY PLEASE!!!
Which type of employer could offer a 403(b) retirement plan to its employees?
A. car dealership
B. computer manufacturer
C. grocery store
D. public school
Answers
Answer:
D. public school
Explanation:
It is only available for non-profitable jobs.
Answer:
public schools
Explanation:
Leadership is best defined as ________. Group of answer choices the ability to induce the team members to focus on individual goals rather than collective goals the ability to influence a group toward the achievement of a vision or set of goals the ability to reduce the dependence of team members on each other the ability to merely project one's abilities in the lack of actual accomplishments the ability to use factors like training and experience to reduce dependence on formal leadership
Answers
Answer:
the ability to influence a group toward the achievement of a vision or set of goals
Explanation:
Computing Payroll Costs; Discussion of Labor Costs LO 9-1 (The following information applies to the questions displayed below.] Oaks Company has completed the payroll for the month of January, reflecting the following data: Salaries and wages earned Employee income taxes withheld FICA payroll taxes* $ 86,000 10,000 6,000 "Assessed on both employer and employee (i.e., $6,000 each). E9-3 Part 2 2. List the liabilities and their amounts reported on the company's January 31 balance sheet, assuming the employees have been paid but that no transfers have been made to government agencies
Answers
The total liabilities reported on the balance sheet would be $102,000 ($86,000 + $10,000 + $6,000).
Total liabilitiesBased on the information provided, the liabilities and their amounts reported on the company's January 31 balance sheet would be:
Salaries and wages payable: $86,000Employee income taxes payable: $10,000FICA payroll taxes payable: $6,000 (both employer and employee portions)Therefore, the total liabilities reported on the balance sheet would be $102,000 ($86,000 + $10,000 + $6,000).
These amounts represent the company's obligation to pay its employees and to remit the appropriate taxes to government agencies.
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when and under which Act citizen investment trust was established ?
Answers
Citizen Investment Trust (Nagarik Lagani Kosh), a statutory institute under Citizen Investment Trust Act, 2047, has ownership of Nepal Government as a public financial organization. It was established on 18th March, 1991(4th Chaitra, 2047B. S) as an autonomous body.
Answer:
18th March, 1991
Explanation:
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If I am convinced that my own neighborhood is safer than it used to be, but that the crime rate in my society is at an all-time high, I am falling victim to...
A) Probability neglect
B) Shifting the burden of proof fallacy
C) Presumptive pessimism
Answers
Answer:
A) Probability neglect
Explanation:
You probably have lived there so long that you neglect to see what the true crime is, and you honestly could care less if its at it all time high
Answer:
A) Probability neglect
Explanation:
its neglectful if you do this
votes in Kenya take place after how long
Answers
Answer:
5 years
Explanation:
its in the constitution
How much y’all think I’m worth?
Y’all think ima great dancer?
Who follows me
Answers
Answer:
What????..............
A list of reasons on why could it take 36 years and $61,060 to pay off a $10,000 credit card dept.
Help I need the answer fast
Answers
Answer:
This is due to compound interest on the credit card bills.
Explanation:
Credit card debt of $10,000 is repaid when its due. The bank lends the credit card amount and then charges interest on the debt amount. The compound interest is added to the debt amount and then future value of the debt is greater than the present value.
the day-to-day living conditions of modern americans are very different from what they were in the 20th century. while doing research for an economics project, charlie discovers that more households today, as compared to households 100 years ago, have electricity, air conditioning, and a car.
Answers
Our society has experienced economic growth. Americans today live in drastically different circumstances than those of the 20th century. while conducting economics research.
What is the straightforward meaning of economic?Economics is the research of scarcity and how it affects how resources are used, how goods and services are produced, how production and welfare increase over time, and a wide range of other complicated problems that are extremely important to society.
What is an example in the economy?Farmers lower the price of a crop when corn production rises in order to sell more of their harvest. The quantity of corn required to feed the population will increase if the stock is too high.
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