A principal whose name is unknown but whose presence is known is an undisclosed principal. A representative who signs a document on behalf of a negligent principal may be held personally accountable for that document. A principal-employer is held vicariously accountable for an agent-unlawful employee's actions.
undisclosed principalBoth the undisclosed principal and the agent are responsible for such transactions. An unnamed or partially revealed principal is one for whom the other party to a transaction is aware only that the agent may be working on behalf of that person, but not the identity of that principal.
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for each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice when preparing a budget. correct choice incorrect choice david is a sales rep who, based on last year, averaged $2,500 of monthly commission before taxes. he should include this in his budget. sharon was just notified that her contribution to the company’s health plan is increasing by 3.5%. it’s a company expense, so sharon doesn’t include it in her budget. as scott was reconciling his checkbook, he realized that he incurred $15.75 last month for atm withdrawals. he looked back at the last six months and realized that he averaged the same amount each month. this is an unexpected expense and shouldn’t be listed in his budget. every year the mendozas buy a big item or take a trip with a single annual bonus jesse receives. they included this in their budget.
For each of the following scenarios, whether the individual made a correct choice or an incorrect choice when preparing a budget, is indicated below.
In total there are four scenarios given, which are discussed below.
Correct choice:
David should include the monthly commission before taxes in his budget.Since it’s a company expense, Sharon doesn’t include it in her budget.The Mendoza's include in their budget a big item or take a trip by a single annual bonus which Jesse receives.Incorrect choice:
Scott realized that he incurred $15.75 for atm withdrawals. This unexpected expense should not be listed in his budget.A budget is considered as an estimation of revenue and expenses over a specified future period of time which is thus re-evaluated and compiled on a periodic basis.
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From whom to buy from and ________ to buy are the two choices left for a consumer once she has made the decision on an alternative
From whom to buy and when to buy are the two choices left for a consumer once she has made the decision on the alternative.
While purchasing a long-term product, the consumers always go through a lot of research and check out various alternatives at better prices and better effectiveness.
If a person chooses the product or the alternative product with better facilities, one needs to decide when to buy the product and from whom.
The supplier is important for things like guarantees and service works if the product gets damaged within the guaranteed period.
When to buy is also an important decision. This depends on the financial condition of the buyer. If the person can afford it immediately, she can buy it at that moment or wait for a few days to gather up the finances and pay for the product.
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Diversification into a new industry can not be considered a success unless it results in?
Diversification cannot be considered a success unless it results in added long-term economic value for shareholders; must satisfy all 3 tests.
What is Diversification?A portfolio's investments are mixed together in a wide variety as part of the risk management approach known as diversification. To reduce exposure to any one asset or risk, a diversified portfolio combines a variety of different asset classes and investment vehicles.
This strategy is justified by the idea that a portfolio made up of various asset classes will, on average, produce superior long-term returns and reduce the risk of any given holding or security. Studies and quantitative simulations have demonstrated that the highest cost-effective level of risk reduction is achieved by maintaining a well-diversified portfolio of 25 to 30 equities. Even though they occur at a much slower rate, additional benefits of diversification are nevertheless produced by investing in more stocks.
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What happens to the supply curve when any of the following determinants change? indicate whether each of these determinants causes a shift of the supply curve or a movement along the curve.
Changes in the determinants will result in a shift in the supply curve. A shift in supply refers to a shift in the supply curve due to the influence of supply shifters. In contrast, a shift in quantity supplied is the movement along the supply curve because of a change in the price of a good, keeping other factors unchanging.
The supply curve shifts forward if there is a growth in supply. This may be due to technological progress, an increase in the number of sellers, a reduction in input prices, the expectation of lower prices for the future, lower prices of other goods, or the provision of subsidies. A supply curve shifts rearwards if there is a reduction in supply. This may be due to technological deterioration, reduction in the number of sellers, increase in input prices, higher price expectations for the future, higher prices of other goods, or the imposition of taxes.
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the cost of manufacturing a product includes all of the following except multiple choice materials. labor. advertising.
Except for advertising, all of the following are part of the price of producing a product.
The strategies and actions utilized in advertising are those that aim to draw attention to certain product, goods, services, viewpoints, or causes with the intention of influencing the public to act in a particular way.
The majority of advertising promotes a product that is available for purchase, but comparable techniques are also employed to persuade people, among many other things, to drive defensively, donate to charity, or cast ballots for particular candidates. The most significant source of product revenue for the media outlets through which it is carried out is often advertising (such as newspapers, magazines, or television stations). Advertising has grown to be a significant and significant service industry in the noncommunist world.
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cute camel woodcraft company’s income statement reports data for its first year of operation. the firm’s ceo would like sales to increase by 25% next year.
Sales for Cute Camel are anticipated to rise from $20,000,000 in Year 1 to $25,000,000 in Year 2, or $20,000,000 x (1 + 0.25). The amount of operating expenses should rise together with the volume of goods and services produced and sold.
More about operating expenses:
An expense a business faces as a result of ongoing operations is referred to as an operating expense. Operating expenses, which are frequently referred to as OPEX, include rent, tools, inventory costs, marketing, payroll, insurance, step charges, and money set aside for R&D before sales.
The total of a company's running costs during a given time period, like a month or a year, is what is referred to as "operating expenses" on an income statement.
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The _____ is a group of persons within an organization who participate in the buying process and share common goals, risks, and knowledge important to the purchase decision.
The Buying center is a group of persons within an organization who participate in the buying process and share common goals, risks, and knowledge important to the purchase decision.
Within organizations, there are divisions known as buying centers where purchases are made.
A buying center is a team within a business, made up of staff members and other organization members, who are in charge of organizing the buying process and making important choices on the purchases of goods or services. Key purchases in an organizational setting necessitate critical contributions from several organizational departments like finance, IT, purchasing, accounting, and senior management. The buying center's participants rely on the goods or services purchased.
A strong customer insight notion is the Buying Center. You can make better decisions in marketing, product development, sales, and management by having an understanding of it. It provides details so you can make decisions about your brand's functioning channels and a strict storyline.
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suppose the advancement of computers has decreased the productivity of a paper mill. this will likely cause the supply curve for paper.
Based on the decrease in productivity of the paper mill, the likely effect is that the supply curve of paper will see a leftward shift.
What happens to the supply curve when productivity decreases?When there is a decrease in productivity, it means that the quantity of goods and services that are being produced will reduce.
If the productivity of paper mills decrease therefore, the amount of paper produced will decrease which will mean a leftward shift in the supply curve of paper.
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A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's?
A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's cost of goods purchased.
Explanation:
While a merchandising company buys goods from its supplier's goods purchased and adds this to its opening inventory to determine the number of goods it has available for sale goods available for sale, a manufacturing firm makes the goods to be sold goods manufactured and adds to its opening inventory of finished goods to determine the same metric quantity of goods available for sale.
This relationship can be seen when the trading account of both firms is compared.
The cost of goods purchased is the net cost of merchandise acquired. The calculation is to add freight into the initial purchase cost and then subtract purchase allowances, purchase discounts, and purchase returns.
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a cashier has a total of 128 bills, made up of fives and tens. the total value of the money is $800. how many ten-dollar bills does the cashier have?
The cashier has 32 ten-dollar bills out of the total sum of 128 bills, made up of fives and tens.
Who is the cashier?In businesses that are based in retail, cashiers perform numerous essential tasks. They are in charge of processing payments, accepting payments, and providing clients with receipts as they depart with their items. While delivering exceptional customer service, cashiers also manage additional required stuff like coupons. In retail-based establishments, cashiers are in charge of processing and accepting payments. Working the cash register is just one of the responsibilities of a cashier (processing payments, issuing receipts) Customers are greeted and assisted with any queries they may have. A bank cashier, also known as a bank teller, assists customers directly and responds to their problems. They must receive clients, open and close accounts, handle deposits and withdrawals, and greet customers.
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You are buying zucchini at $1.20 a pound, but you must trim 12% of it away before you can use it. How much would the cleaned zucchini cost in a bread recipe that calls for 7 ounces?
You are buying zucchini at $1.20 a pound, but you must trim 12% of it away before you can use it. How much would the cleaned zucchini cost in a bread recipe that calls for 7 ounces? $4.375
Trades in the British pound gain from financial news stories in two ways. While the second shows higher liquidity, the first is a clear trend. The timing of financial news might vary, but financial firms and governments often disseminate a large amount of material on a regular basis. Most monthly economic figures from the United Kingdom are released between two and one in the morning. and 4:30 a.m. This is a fantastic time to trade because it is Eastern Time in the United States. Announcements of the interest rate by the central bank, which typically occur at predetermined intervals, also have a significant impact on exchange rates. The duration of trading sessions and price movements on the stock market can have a big impact on the British pound.
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Rebecca sells her personal scooter for $2,250. she purchased the scooter for $2,700 three years ago. she also sells a painting for $3,888 that she acquired five years ago for $3,240. what are the tax implications of these sales? rebecca has a $fill in the blank 1 4,545 realized gain on the scooter and a $fill in the blank 3 9,897 realized gain on the painting. rebecca will recognize the gain or loss associated with only the painting .
The sale of the scooter results in a realized loss of $150 ($700 − $550). ----but personal use, cannot be offset, not deductible
The painting results in a realized gain of $ 300 ($1,200 − $900). However, Rebecca only recognizes the gain from the painting
Lose is a verb that means "to come to be without something, to fail to retain," while loss is a noun that means "that that is lost, a harm."
When you lose money operating your business, you are spending more than you are earning. Businesses sometimes experience temporary losses when they first launch or during periods of expansion. This is OK if you have enough cash on hand to cover operating expenses while waiting for a boost in revenue.
An income statement sometimes referred to as a statement of gain and loss, P&L, or report on income, is where accountants document a company's losses.
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betty bought a jar of facial cream with natural ingredients for $50 online from beauty today inc., a company that promises a youthful wrinkle-free skin for those who buy the cream and use it twice a day. betty used the cream as directed but didn't see any difference in her skin. which of the following statements is not an ethical explanation of betty's situation?
Betty spent $50 on a jar of facial cream with natural ingredients from beauty today inc., a business that guarantees customers who purchase the cream and apply it twice daily would have youthful skin free of wrinkles. Betty followed the cream's instructions, but her skin didn't seem to change. Betty's condition cannot be ethically explained by customers assuming that all product labels are accurate.
In the business world, ethics are crucial. It involves analyzing what should be done and studying morally righteous business actions and judgments. Human behavior is shaped and molded by ethics. It helps workers fulfill their roles.
Ethics, however, cannot be taught until we "live what we teach." If not, preaching will only have the same impact as a house of cards.
"Relating to moral business principles or the area of science dealing with these," according to a simple dictionary definition, is what the word "ethics" means. Given the numerous ways that the word "ethical" is used, its definition can be ambiguous and broad.
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the law requiring firms in the private sector to provide procedures for anonymous reporting of accusations of fraud is the
The law requiring firms in the private sector to provide procedures for anonymous reporting of accusations of fraud is the Sarbanes-Oxley Act of 2002.
The Sarbanes-Oxley Act of 2002
The Sarbanes-Oxley Act of 2002 is a federal law in the United States that requires certain practises in accounting records and tracking for corporations.The act, also referred as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and the Corporate and Auditing Accountability, Commitment, and The "Transparency Act" (in the House), also known informally as Sarbanes-Oxley, SOX, or Sarbox, consists of eleven parts that impose regulations on all US firms.
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A friend asks to borrow $250 for 120 days and agrees to pay 2.5% simple interest every 30 days. how much interest will you earn? give your answer in dollars to the nearest dollar.
$6.25 of interest will be earned every 30 days.
Given,
Borrowing amount = $250
Simple interest = 2.5%
No. of days = 30 days
A month equals 30 days and so earning due to interests will be only effective after each 30th day. The simple interest formula is used here in order to calculate the interest.
[tex]I=\frac{P*R*T}{100}[/tex]
Here,
P - borrowed money.
R - simple interest rate.
T - no. of periods.
I - interested gain due to borrowed money.
So, if P = $250, R = 2.5%, and T = 1, then the interest earned is:
[tex]I= \frac{(250)*(2.5)*(1)}{100}[/tex]
[tex]I=\frac{625}{100}[/tex]
[tex]I= 6.25[/tex]
Hence, $6.25 of interest will be earned every 30 days.
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in the 1960s, when a customer in the united states purchased a television, that television had been manufactured in the united states. today, thanks to the fall of international trade barriers, televisions purchased in the united states might be manufactured in china or south korea. this change has occurred as the result of blank . multiple choice question. customization isolationism domestication globalization
Today, thanks to the fall of international trade barriers, televisions purchased in the United States might be manufactured in China or South Korea. This change has occurred as the result of globalization
What is Trade?This refers to the buying and selling that exists between two or more entities where they pay a certain price.
Hence, we can see that thanks to the fall of international trade barriers, televisions purchased in the United States might be manufactured in China or South Korea. This change has occurred as the result of globalization
This is because there is international trade that is made possible through import and export.
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speedy delivery company purchases a delivery van for $36,000. speedy estimates that at the end of its four-year service life, the van will be worth $6,400. during the four-year period, the company expects to drive the van 148,000 miles. actual miles driven each year were 40,000 miles in year 1 and 46,000 miles in year 2. required: calculate annual depreciation for the first two years of the van using each of the following methods.
Year 1 depreciation is =$.8,000/
Year 2 depreciation is =$9,200/.
Straight line method:
Annual depreciation is=(Original cost-Residual value)/Life.
Annual depreciation is = (36000-6400) /4.
Annual depreciation is =$7,400/.
Depreciation for year 1 and a couple of is $7,400 for every year.
Double declining balance method :
Depreciation rate under straight line=100/4=25% .
Double declining balance rate=50%.
Depreciation in year 1=(36000*50%).
Depreciation in year 1=$18,000/.
Depreciation for 2nd year is =(36000 -18000)*50%.
Depreciation for 2nd year is =$9,000/.
Activity based method:
Depreciation is =((Cost- Residual value)/Estimated total activity)*Annual Activity
.
Year 1 depreciation is =((36000-6400)/148000)*40000.
Year 1 depreciation is =$.8,000/.
Year 2 depreciation is = ((36000-6400)/148000)*46000.
Year 2 depreciation is =$9,200/.
What is Annual Depreciation?Annual depreciation is the usual every year charge at which depreciation is charged to a hard and fast asset. This price is constant from year to year if the straight-line approach is used. If an extended technique is used, then annual depreciation will spike early, after which decline in later years.
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What do financial planning skills ultimately enable an individual to do?
to prepare for the future
to process their own tax returns
to stop spending
to become wealthier without saving money
Financial planning skills ultimately enables an individual: A. to prepare for the future.
What is the planning gap?The planning gap can be defined as the gap that typically exist between "where we are now?" and "where we want to be?"
Basically, "where are we now?" describes the current situation of things or financial and non-financial activities that a business firm currently holds. On the other hand, "where we want to be?" is a vision and mission statement that focuses on achieving the goals and objectives set for a business firm.
What are financial planning skills?Financial planning skills can be defined as the ability of an individual to determine the most appropriate (best) financing and investing activities for himself or herself, or a business firm after evaluating all available options.
In this context, we can reasonably infer and logically deduce that financial planning skills ultimately enables an individual to prepare and plan for the future.
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the concept of comparative advantage is based upon: a relative energy prices. b dollar prices of labor. c relative opportunity costs. d absolute labor productivity. e relative labor costs.
the concept of comparative advantage is based upon absolute labor productivity.
What is Labor Productivity?
Labor productivity measures the hourly output of a country's economy. Specifically, it indicates the amount of real Gross Domestic Product (GDP) produced in one hour of labor. Labor productivity growth depends on three main factors: savings and investments in physical capital, new technologies and human capital.
Understanding Labor Productivity
Labor productivity, also called workforce productivity, is defined as real economic output per hour worked. Labor productivity growth is measured by the change in economic output per hour worked over a defined period. Labor productivity should not be confused with employee productivity, which is a measure of individual worker performance.
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How long does it take to become a millionare? a 200000 investment will hit 1 million in 40 years at an annual interest rate of 4.11
If you’re looking to become a millionaire someday, you might have wondered how long it will take before your investment hits the mark.
If you plan on investing 200000 at an annual interest rate of 4.11%, it will take you about 40 years to reach the million-dollar mark with no additional investments.
The amount of time it takes to become a millionaire varies by country and interest rate, but the general rule of thumb is that the more money you invest, the less time it will take to reach your million-dollar goal.
But how do you know if it’s even worth investing 200000 in the first place? After all, that’s a lot of money to part with, even if you plan on making several times that amount over time!
The shocking truth is that, on average, it takes about 40 years for your initial investment of $200,000 to turn into $1 million.
Here are some things to consider when deciding whether or not to invest your savings or investment money into a high-yield interest rate opportunity.
Investing over 30 years means your investments should be able to make a 5-10% profit each year:Start saving early, invest wisely, and sit back and watch your account growth.
If you are putting in $3,000 per year into your investment account at an average annual return of 5%, after 30 years of saving (or retirement) the total investment balance would be $637,171.58.
And keep in mind that this is just one strategy out of many that can help make your money work harder for you.
A 200000 investment will hit 1 million in 40 years at an annual interest rate of 4.11:What your investment will be worth in 40 years, and the expected annual interest rate are two factors that determine how long it will take for your savings to grow into a million dollars.
This formula is called the time value of money and is based on simple math: 4.11% compounded annually would make an initial $200,000 investment grow into $1,000,110 over the course of 40 years.
That's good news if you're looking to retire soon and want to make sure you have enough money saved up for retirement.
To get there sooner, however, try increasing your contribution by 1% every year until it's maxed out at 15%.
Average millionaires invest 20% of their income each year:In recent years, the average US household net worth was $10,700,000. To get there, the average American invests 20% of their income each year.
For example, if your salary is $20000 per year then you would invest $4000 into stocks or funds that make your money grow.
On average, at an annual interest rate of 4.11%, and after 40 years of saving 20% of your income annually, you will hit 1 million dollars (assuming a constant investment).
But keep in mind, this assumes a constant investment over time. A big change in your lifestyle might have an impact on how quickly you can reach the millionaires club - for better or worse!
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assume that you are the owner of a large soybean farm in argentina. soybeans are a commodity product. most soybeans are grown in south america, but demand for soybeans is growing rapidly in asia. you are trying to decide whether to process soybeans in south america and ship them to asia or to ship raw soybeans directly to asia and process them there. what factors would you look at to make this decision?
In both the cases of processing soybeans in south america and shipping them to Asia or to ship raw soybeans directly to asia and process them there involves a factor of transcription and risk in it.
More about transportation risk:
Risks are a constant in transportation or shipping related activities at every level, from loading through delivery. a recurring factor that can be managed, nevertheless, by being aware of the risks and employing the appropriate techniques and tactics.
These risks may have an effect on the reliability and safety of the fleet, workplace safety, and delivery compliance. Some of the most significant ones are as follows: Extreme temperatures, weather-related catastrophes, natural disasters, and weather's general unkindness also include road traffic, sea conditions, and social dangers.
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Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from d1 to d2. the amount of the tax paid by the consumer is:__________
The government levies a $3 tax on buyers, causing the demand curve to change from d1 to d2. The tax paid by the consumer is $5.
Demand Curve:
A demand curve is a graph that depicts the relationship between the price of a commodity (the y-axis) and the quantity desired at that price (the x-axis). Demand curves can be used to model the price-quantity connection for a single consumer (an individual demand curve) or for all consumers in a given market (a market demand curve). Demand curves are often believed to slope downward, as illustrated in the next illustration. This is due to the law of demand, which states that when the price of a commodity rises, the quantity required decreases.
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Real gains in productivity require innovations to ____.
a. human practices
b. business practices
c. corporate process
d. business politics
Real gains in productivity require innovations to business practices.
Any strategy or action used by a company to accomplish its goals. Making money is a business's ultimate goal. Business procedures are how it makes an effort to do so in the most economical way possible.
Business Practice Improvement (BPI) conducts research and analytics to simplify and reduce redundancies in order to give outcome-based, data-driven solutions to business processes and complicated problems.We provide a special fusion of corporate experience akin to consulting with knowledge of and insight into collegiate culture.Finding and using the best operational strategies to accomplish your business goals is a best business practice. The procedure entails keeping up with the most recent operational trends of prosperous organizations and contrasting them with your methods of managing the same operations.Using best practices in business entails studying how other organizations have managed different company processes. Benchmarking is the most popular method for accomplishing this. It enables you to compare your organization to other successful enterprises and identify opportunities for improvement.To learn more about business practices visit:https://brainly.com/question/6459332
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How would you quickly find the total number of water samples (or test tubes) collected across all of the lakes in your study?
To quickly find the total number of water samples (or test tubes) collected across all of the lakes in your study I will B) sum(FloridaLakes$NumSamples)
What is sampling?Sampling is the process of choosing a subset of people (a statistical sample) from a statistical population in order to estimate the characteristics of the entire population. It is used in statistics, quality control, and survey technique. Statisticians try to get samples that are typical of the population under consideration. In situations where it is impractical to assess the complete population, sampling offers insights and is more affordable and quicker than doing so.
Each observation quantifies one or more characteristics of distinct things or people, such as their mass, position, color, or weight.
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shannon needs to make some house repairs in three years that will cost $9,000. she has some money in an account earning 9% annual interest. how much money needs to be in the account today so she will have enough to pay for the repairs?
Shannon needs about $6950 to be in that account, so she will have enough to pay for the repairs.
The earnings can be calculated using the following calculation as the account has a 9% annual interest rate:
Where M is the total sum, C is the starting sum, r is the interest rate, and t is the amount of time, in years, that has passed.
She requires the funds in 3 years. Thus t = 3. Using this in relation to the issue we face, She requires about $6950 to be in that account.
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Hospital equipment that originally cost $150,000 was sold for $60,000. the net book value of the equipment at the date of sale was $70,000. the hospital should report:_________
Hospital equipment that originally cost $150,000 was sold for $60,000. the net book value of the equipment at the date of sale was $70,000. The hospital should report a nonoperating loss of $15,000.
Equipment maximum usually refers to a fixed of gear or other objects normally used to attain a selected objective. exceptional jobs require specific forms of device.
Device is a tangible long-term asset that blessings a commercial enterprise over numerous years of use. computers, vehicles and manufacturing machinery are all examples of equipment. they're tangible due to the fact they have got a physical form—not like intangible assets (such as patents, emblems or copyrights) that do not.
A tool may be any item that is used to reap a intention. equipment commonly denotes a set of gear which might be used to achieve a particular objective.
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emily wants to initiate a suit against fast credit company by filing a complaint. the complaint should include
The complaint should include a statement of the grounds for the court to exercise jurisdiction.
What are the steps to initiate a suit against fast credit company?
The procedures for starting a lawsuit to make things clearer:
The defendant receives a summons when the plaintiff files a complaint with the court.In response to the complaint, the defendant may file a counterclaim against the plaintiff.Through interrogatories and depositions, testimony is discovered.After hearing the case, a judge or jury renders a decision.If the decision is not acceptable to either side, an appeal may be made to a higher court.When someone feels they have been harmed and decides to file a lawsuit, the first step is to file a complaint, which is a written statement that includes allegations of damages one received because of another person.
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what approach can parties use to generate alternative solutions by redefining the problem or problem set?
The approach that a parties can use to generate alternative solutions by redefining the problem or problem set is non specific compensation.
What is non specific compensation?Nonspecific compensation, can be described as an approach which explains that one party gets what it wants as a result of repaying the other party with something unrelated with respect to the original source of conflict.
In this case , the parties can use to generate alternative solutions by redefining the problem or problem set and that is what is been regarded as the non specific compensation.
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todd conveyed title to his out-of-state property to brad using a general warranty deed. a few months later, brad discovered that the legal description of the property on the deed was incorrect, and his property was only half the size he thought he’d purchased. he sued todd based on todd’s promises of in the deed.
The correct answer is quiet enjoyment and further assurances
A general warranty deed ensures that the seller has clear, unencumbered legal title to the real estate when it is transferred from the buyer to the seller. This implies that the seller guarantees that the property is free and clear of liens and creditors' claims, or that, in the event that there are any, the seller would make up the difference for the buyer.
To be legitimate, a general warranty deed must contain the following:
the seller's name and address (called the grantor)the buyer's name and address (called the grantee)a statement of the property's legal name (found on the previous deed)a declaration that the grantor is giving the grantee ownership of the propertyTo know more about general warranty deed refer to https://brainly.com/question/28547281
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the accounts in the ledger of monroe entertainment co. are as follows. all accounts have normal balances. when the trial balance is prepared, the total of the debits will be
The accounts in the ledger of Monroe entertainment co. are as follows. all accounts have normal balances. when the trial balance is prepared, the total of the debits will be $13,900.
An account refers to assets, liabilities, earnings, charges, and fairness, as represented with the useful resource of person ledger pages, to which modifications in charge are chronologically recorded with debit and credit score entries. those entries referred to as postings, turn out to be a part of an e-book of the very last entries or ledger.
In accounting, an account is a report inside the enormous ledger that is used to kind and maintain transactions. as instance, corporations might also have a cash account in which to file every transaction that will increase or decreases the employer's coins.
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