Business, 08.10.2020 14:01, nothingworksoutforme

Ralph sold a motel to Steve by stating that he had paid $250,000 for it and that his net average annual profit from the business has been $40,000.In reality he paid $100,000 for the motel and has earned a net average annual profit of only $30,000.Steve made no attempt to verify the statements until after the transaction was completed. In this case:A) Ralph has committed fraudulent misrepresentation and the contract is voidable at Steve's option. B) Steve is bound by the contract, because he failed to verify the statements which were made to him. C) the contract is not voidable, but Steve may sue for damages. D) the contract is automatically void.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 07:30, dimondqueen511

Which two of the following are benefits of consumer programs

Answers: 1

continue

Business, 22.06.2019 19:40, izzyisawesome5232

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.

Answers: 3

continue

Business, 22.06.2019 20:00, Haddixhouse8948

How many organs are supplied at a zero price? (b) how many people die in the government-regulated economy where the government-set price ceiling is p = 0? the quantity qd – qa. the quantity qe – qa. the quantity qd – qe. (c) how many people die in the market-driven economy?

Answers: 1

continue

Business, 22.06.2019 21:10, cece3467

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is:

Answers: 3

continue

Do you know the correct answer?

Ralph sold a motel to Steve by stating that he had paid $250,000 for it and that his net average ann...