Alejandro recently established a maintenance company as a sole proprietorship. He was hired to repair the air conditioner on a residential property, but he accidentally caused damage to the air conditioning unit valued at over $6,000. Alejandro has only had the business for a week and has paid about $200 for tools. Which of the following is true? 1. Alejandro is liable for all of the damages since the owner of a sole proprietorship does not have limited liability.

2. Alejandro is liable for $200 since the owner of a sole proprietorship does not have limited liability.

3. Alejandro is liable for $200 since the owner of a sole proprietorship has limited liability.

4. Alejandro is liable for all of the damages since the owner of a sole proprietorship has limited liability.

Grace period is a period of time before the credit card company starts charging late fees. truefalse

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.