Answer:
True
Explanation:
Indeed, the economics student was mistaken because aggregate demand follows a pattern that when prices rise, consumer wealth declines, the interest rates rise, and exports become more expensive thus leading to a downward sloping of the aggregate demand curve.
Therefore, the second statement is correct (True) for saying the economics student was wrong in his statement.
Garage Magic, Inc, contracts for the sale of a certain number of garage door openers to Home & Yard Hardware stores. Ian buys one of openers. The applicable statute of limitations prescribes a period of four years. To bring a product liability claim against Garage Magic, Ian must file a suit within four years of______________.a. Ian's discovery of an injury caused by the opener.b. Garage Magic's sale of the opener to Home & Yard.c. Garage Magic's design of the opener.d. Home & Yard's sale of the opener to Ian.
LPM’s weighted average cost of capital (WACC) is 13 percent if the firm does not have to issue new common equity; if new common equity is needed, its WACC is 16 percent. If LPM expects to generate $80,000 in retained earnings this year, which project(s) should be purchased? Assume that the projects are independent and indivisible.
Answer:
Projects D and E should be purchased.
Explanation:
since the firm's capital structure is 60% debt and 40% equity, it can pursue up to 2 projects. Only projects D, E and F have an internal rate of return higher than the company's WACC, so project G is discarded immediately.
Since projects D and E have a higher IRR, they should be selected.
project D: $70,000, IRR = 18%, debt = $42,000, equity = $28,000project E: $85,000, IRR = 15%, debt = $51,000, equity = $34,000total equity invested = $62,000The Wei Corporation expects next year’s net income to be $15 million. The firm is currently financed with 40% debt. Wei has $12 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio. According to the residual distribution model (assuming all payments are in the form of dividends), how large should Wei’s dividend payout ratio be next year?
Answer:
52%
Explanation:
Before diving into the use of residual distribution model, first, let us specify what our Total Investment required, Equity, Next year net income is:
Total Investment Required = 12,000,000
Equity = 12,000,000 × (1 - 40%) = 7,200,000
Next Year Net income = 15,000,000
Using the residual distribution model , we can specify that,
Retention Amount of Net income = Equity required = 7,200,000
and,
Dividend Distribution = Net income - Retention Amount of Net income
==> Dividend Distribution = 15,000,000 - 7,200,000
==> Dividend Distribution = 7,800,000
Therefore,
Payout ratio = Dividend Distribution ÷ Net income
==> Payout ratio = 7800000 ÷ 15000000 = 0.52
Therefore, the Payout ratio for next year will be 52%
To maintain the existing debt ratio while investing in profitable opportunities, Wei Corporation should retain $7.2 million of its net income. The remaining $7.8 million can be distributed as dividends, giving a dividend payout ratio of 52%.
Explanation:To calculate the dividend payout ratio for the Wei Corporation, we must first determine how much of the net income will be used for profitable investments while maintaining the current debt ratio.
The Wei Corporation has $12 million worth of investment opportunities and wants to maintain its structure which is 40% debt financed. This means, of the $12 million investment, 60% ($7.2 million) would come from Wei's equity. This is the portion of net income that Wei must retain.
Wei Corporation's net income for the next year is projected to be $15 million. After investing $7.2 million in profitable investments, it has $7.8 million ($15 million - $7.2 million) left. This is the amount that can be paid out as dividends to the shareholders.
So, to calculate the dividend payout ratio we divide the dividends by the net income. That gives us a dividend payout ratio of 52% ($7.8 million / $15 million).
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Louis, an employee at Yoko Inc., had been notified of his termination from the company without sufficient justification. During the termination process, Louis’s manager took into consideration his dignity, concerns, and feelings. Which of the following determinants of interactional justice did Louis not receive from his manager? Social sensitivity Consideration Ethicality Explanation Empathy
Answer: Explanation
Explanation:
According to the given question, the explanation is one of the type of determinant of the interactional justice that the Louis not received from his manager as Louis is one of an employee at the Yoko Inc., and without any sufficient explanation he receive a notification for termination.
The explanation is one of the type of interactional justice determinant that emphasizing the main aspects of the given decision and justify the reasons for their specific decisions.
The interactional justice is one of the type of concept that helps in explain the positive workplace or environment and it is the main responsibility of the manager to make the effective decisions with justified explanation.
Therefore, Explanation is the correct answer.
Instead of having a manager instruct new baristas, Starbucks has employees use a computer training program that tells them about the company, the role of baristas, and the steps of coffee production from the farms to the coffee pot. This is an example of a way to __ productivity.
Answer:
Increase
Explanation:
Productivity refers to the degree in which a producer or an organization is efficient in the production of goods or in the offering of it services. It involves the process of how quickly can inputs be turned into output. There are various ways of improving productivity in an organization depending on what is lacking or causing inefficiency in the production process. One of those ways is the use of computer which hasten the process more efficiently. That is what is been used in this case to increase the productivity level in the starbucks.
Answer:
Increase productivity
Explanation:
To increase productivity means to put out products more quickly or tasks are being completed at a faster rate than they used to be.
The computer training program for new baristas is a better,faster and more efficient way to increase productivity. It can instruct more people tirelessly compared to the manager. It reduces the work load of the manager and still does more work than the manager can do
After making its interest payment, Good Omens Corporation has decided to retire its $48,000 face value bonds December 31. On that day, the unamortized discount is $3,200. The company called the bonds at 101. Determine the gain or loss on the retirement on bonds.
Answer:
The loss is $3,680
Explanation:
In this question, we are asked to calculate if the gain or loss on the retirements of bonds.
We start by subtracting the sales value of bond and unamortised discount from face value of bonds
we are given the unamortised discount in the question but we do not know sales value of bonds.
We calculate that as follows;
we assume that the face value of bond is $100 per bond
The number of share issue = 48,000/100 = 480 bonds
The sales value of bond = number of shares sold * sales value per bond. = 480 * 101 = $48,480
Thus, the loss on sales of bond = 48,000-48,480 - 3,200 = -$3,680
Answer:
$3,680
Explanation:
Base on the scenario been described in the question, to determine the loss retirement bonds, we use the following method
An investor knows the total assets and total liabilities of a company, but they are not sure how much of the assets and liabilities are current versus long-term. Based on this, the investor could calculate
Answer:
The investor must find Current Ration and Quick Ratio.
Explanation:
The reason is that the current ratio tells that how much of the current assets are financed from the current liabilities. This gives a better understanding of the financing of the working capital through current liabilities. The quick ratio does the same but the effect of the inventory is eliminated.
this question has already been solved
Answer:
whats the answer hurry up
Explanation:
i dont understand what you are asking me
Manufacturing overhead was estimated to be $562,800 for the year along with 20,100 direct labor hours. Actual manufacturing overhead was $543,705, and actual labor hours were 21,600. The amount of manufacturing overhead applied to production would be:
Answer:
$604,800
Explanation:
Applied manufacturing overhead is the manufacturing overhead that has been applied to production in a period.
it is calculated with the formula "budgeted overhead rate * actual labor hr"
Budgeted manufacturing overhead = $562,800
Budgeted Direct labor hours = 20,100
Budgeted Overhead rate = 562800/20100 =$28/hr
Actual manufacturing overhead = $543,705
Actual direct labor hours = 21600
Amount of manufacturing overhead applied = predetermined overhead rate * actual hr =28*21600
=$604,800
Final answer:
To find the amount of manufacturing overhead applied to production, first calculate the predetermined overhead rate using the estimated figures, then multiply by the actual labor hours.
Explanation:
To calculate the amount of manufacturing overhead applied to production, we need to determine the predetermined overhead rate (POR) and then apply that rate to the actual labor hours. The POR is calculated based on the estimated figures given at the beginning of the year. In this case, we divide the estimated manufacturing overhead ($562,800) by the estimated direct labor hours (20,100 hours) to get the POR.
Manufacturing Overhead Applied = POR x Actual Labor Hours
Now, apply this POR to the actual labor hours worked (21,600) to find the amount of manufacturing overhead applied to production.
Khandi gives a presentation to advocate that her employer, Let-Us, Ltd., which offers services such as personal shopping and event planning to assist busy professionals, expand its offerings to include dog walking. Which of the following sentences is a call to action that Khandi might use at the end of her presentation? Multiple Choice Did you know that the number of households with pets is increasing? For all these reasons, I propose we hire three dog walkers and begin offering this service by year's end. Most dogs need 30 to 60 minutes of exercise a day, but the average dog gets much less than that. Studies show that most pet owners feel guilty for leaving the animals alone too long while they are at work. Many people view their pets as substitute children who have equal status to other family members.
Answer:
For all these reasons, I propose we hire three dog walkers and begin offering this service by year's end.
Explanation:
If Khandi says, for all these reasons, I propose we hire three dog walkers and begin offering this service by year's end, this is a call to action that she used at the end of her presentation as an advocacy for Let-Us Ltd to expand its services to include dog walking.
A production line is to be designed to make 500 El-More dolls per day. Each doll requires 11 activities totaling 16 minutes of work. The factory operates 1000 minutes per day. What is the required cycle time for this assembly line?
a. one-half minute.
b. one and one-half minutes.
c. two minutes.
d. 5,500 minutes.
Answer:
The required cycle time for this assembly line is 2 minutes.
Explanation: Given that
The factory operates for 1000 minutes/day
Daily operating time= factory operates 1000 minutes per day
Schedule output = 500 El
Hence, to calculate the required cycle time for the assembly line
Cycle time = daily operating time ÷ the output schedule.
1000 / 500 = 2 minutes
To determine the required cycle time, divide the total work time by the number of units. The correct option is C.
Explanation:To determine the required cycle time for an assembly line, we need to divide the total work time by the number of units to be produced. In this case, we have 500 dolls to be made in 1000 minutes.
So, the required cycle time is:
Cycle Time = Total Work Time / Number of Units
= 1000 minutes / 500 dolls
= 2 minutes per doll
Therefore, the required cycle time for this assembly line is (C) two minutes.
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The main goal of auditing internal control is Group of answer choices To allow the auditor to fix any internal control deficiencies. To form an opinion on the ability of internal controls to prevent fraud. To assure management that internal control is preventing all material misstatements on the financial statements. To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Answer:
To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Explanation:
In Accounting, an internal control is a mechanism, procedure, rule or policy designed by management to secure assets, promote efficiency, ensure accountability and prevent fraudulent behavior in an organization.
The main goal of auditing internal control is to evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Which argument forces a writer to return to and change the input before resolving a “UnicodeError”?
errors= “strict”
errors= “fix”
errors= “ignore”
errors= “replace”
Answer:
i think its b
Explanation:
Answer:
errors= “fix” should be the right answer
Explanation:
Dylan regularly buys the Rolling Stone magazine. The store from where he purchases the magazine informs him that it would not sell any Rolling Stone magazines for a couple of months. Dylan assumed that the magazine was shutting down. This scenario illustrates the concept of _____.
Answer:
Concept of business closure
Explanation:
Business Closure means shutting down a business, or going out of business. It is an action taken when a business or organization does not see any reason to continue operating. Business closure can be because of insufficient funds to continue operation, Death of the business owner, bankruptcy, or the business has been bought by another organization.
Answer:
Closure
Explanation:
Closure is a act of seeing an incomplete action as if is the whole in an attempt to find an answer to a situation demanding such. A mental puzzle is formed based on the available information , and an answer if derived when the puzzle appears to have satisfied one's curiosity.
Dylan's assumption that the machine was shutting down based on the information he received is a typical illustration of the concept of closure
The following information pertains to one item of inventory of the Simon Company: Per unit Cost $ 200 Replacement cost 170 Selling price 190 Disposal costs 10 Normal profit margin 30 Using the lower of cost or market, this item should be valued at:__________.
A. $150
B. $200
C. $170
D. $190
Answer:
Option "C" is the correct answer to the following question.
Explanation:
Given:
Per unit cost = $200
Replacement cost = $170
Selling price = $190
Disposal costs = $10
Normal profit margin = $30
Computation of item valued using lower of cost or market:
Lower of cost or market :
Lower of cost or market = Lower of [Per unit cost or Replacement cost or Market cost]
Lower of cost or market = Lower of [$200 or $170 or {$190-($30-$10)}]
Lower of cost or market = Lower of [$200 or $170 or {$190-($20)}]
Lower of cost or market = Lower of [$200 or $170 or $170]
Item valued using lower of cost or market = $170
Final answer:
Using the lower of cost or market rule, the inventory item should be valued at $170 because it is lower than the cost amount of $200. The correct option is c.
Explanation:
The question asks how to value inventory using the lower of cost or market method, which is a principle in accounting used to adjust the value of a company's inventory. In this case, the cost per unit is $200 and the replacement cost is $170. According to this principle, the lower value between the cost and the market replacement cost is the one to be used for inventory valuation. Here, the replacement cost of $170 is lower than the cost, so per the lower of cost or market rule, the inventory will be valued at $170.
During autumn months, passenger railroads across the globe deal with a condition called slippery rail. It results from a combination of water, leaf oil, and pressure from the train's weight, which creates a slippery black ooze that prevents trains from gaining traction. One solution for slippery rail is to cut back trees from all of a rail firm's rail network on a regular basis, thereby helping prevent the problem from developing. If incurred, would this railroad expense be a better example of a fixed cost or a variable cost? Why? A. This is an example of a fixed cost because the cost doesn't vary with the number of trains. B. This is an example of a variable cost because it is a long-run cost. C. The cost can be either fixed or variable depending on whether we are talking about the short run or long run.
Answer:
A) This is an example of a fixed cost because the cost doesn't vary with the number of trains.
Explanation:
A fixed cost is a cost that does not vary as the total output varies. In this case, the number of trains using the tracks would be the total output, and the tracks need to bee cleaned regardless of how many trains will use them. Since the costs do not vary depending on the number of trains that will use the tracks, it is considered a fixed cost.
Ginger's hotel ran an occupancy rate of 85% and her competitive set had 150,00room nights included within it there were available for sale during that month. That month the total sold was 115,000 rooms. What was the approximate occupancy rate index last month?
Answer:
The approximate occupancy rate index last month was 112%.
Explanation:
According to the data, we have the following:
Ginger’s occupancy = 85%
Its competitive set has 150,000 rooms. The total sold was 115,000 rooms in the month.
So, to calculate the the approximate occupancy rate index last month, we calculate first occupancy rate of the competitive set = 115,000/150,000 = 0.7667 = 76.67%
Hence competitive set occupancy = 76%
Therefore, occupancy rate INDEX = ginger’s occupancy/competitive set occupancy
= 85%/76 %
= 1.1184 =112%
The approximate occupancy rate index last month was 112%.
Jim, a 23-year-old factory worker, was seriously injured when a hammer fell on his head while he was at his work station. Jim hadn’t worn his safety helmet at the time of the accident even though the safety rules of the company necessitate the use of safety helmets at all times. Which of the following is true? Group of answer choices Jim will receive workers’ compensation even though he is responsible for the injury. Jim will not receive workers’ compensation because he is responsible for the injury. Jim can claim Social Security benefits. Jim will receive a severance payment when he returns to work after his injuries are healed.
Answer:
Jim will receive workers’ compensation even though he is responsible for the injury. Option A
Explanation:
Workers compensation generally provides coverage for an employees' injuries when they sustain an injury while at work. It provides coverage for the following:
medical care, wage loss, and payment for permanent disability.Workers compensation has nothing to do with the fact that the employee was negligent. This means that there is no differentiation in payments based on who caused the injury.
Therefore, in the scenario above, Jim will be compensated because the payment is not based on who caused his injuries.
Final answer:
Jim is likely still eligible for workers' compensation despite violating safety rules by not wearing a helmet when injured at his workplace. Social Security benefits generally do not cover short-term work injuries, and a severance payment is unrelated to injury-based compensation.
Explanation:
Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment. In the scenario provided, Jim, who was injured due to not wearing a safety helmet as mandated by the company's safety rules, may still be eligible for workers' compensation. This system is designed to provide benefits to workers injured on the job regardless of fault, as an expeditious and limited form of compensation.
Although Jim is responsible for not wearing his safety helmet, which is a violation of workplace safety protocols, this typically does not bar him from receiving workers' compensation. However, Social Security benefits are a different program and are generally not available to individuals based solely on temporary work injuries. As for a severance payment, this would typically be associated with the end of employment and not necessarily related to injury-based leave.
A stabilized budget is:
A. budget that forecasts income/expense and can br projected over a short period of time (usually 5 years).
B. budget for annual depreciation and non-cash items
C. budget to plan for financing long-term outlays, such as fixed assets (i.e. facilities and equipment)
D. annual budget which includes income/expense for ongoing operations
Answer:
A. budget that forecasts income/expense and can br projected over a short period of time (usually 5 years).
Explanation:
A stabilized budget is a projection of income and expenses that is made for a period of five years and the expenses are constant during this time. According to this, the answer is that a stabilized budget is a budget that forecasts income/expense and can br projected over a short period of time (usually 5 years).
The PGA operates as two divisions: one that governs the club professionals who serve amateur players and another, known today as the PGA Tour, that governs the tour professionals, and schedules events such as the PGA Championship Tour, PGA Tour Canada, and the Web Tour.
a. true
b. false
Answer:
a. true
Explanation:
The PGA, indeed, operates in two distinct divisions: The PGA of America serving amateur players and the PGA Tour catering to tour professionals. It also schedules events like the PGA Championship Tour, PGA Tour Canada, and the Web Tour.
Explanation:The statement saying that the PGA operates as two divisions: one that governs the club professionals who serve amateur players and another, known as the PGA Tour, that governs the tour professionals, and schedules events such as the PGA Championship Tour, PGA Tour Canada, and the Web Tour is true.
The PGA, Professional Golfers' Association, is indeed a divided entity. The PGA of America is committed to promoting the game of golf at the local level and providing support to golf professionals serving amateur players. The PGA Tour, on the other hand, organizes the main professional golf tours played primarily by men in the United States and North America. Events under the PGA Tour include the PGA Championship Tour, PGA Tour Canada, and the Web Tour.
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Lewis, a salesperson at an automobile showroom, convinced one of his sales leads to buy the latest car in the showroom. Two weeks after the car was delivered to the buyer, Lewis calls the customer to check if he is satisfied with the car and his service. Upon hearing the satisfied reply, Lewis adds that he can be reached in case of any complaints in the future. In this case, Lewis is _________.
a. following-up with his customer.b. handling objections from his customer.c. resolving his customer's complaint.d. closing the sale.
Answer:
a. following-up with his customer.
Explanation:
Based on the scenario being described within the question it can be said that Lewis is following-up with his customer. This is when a salesperson contacts a customer some time after their purchase in order to make sure that they are happy with their purchase. This allows the salesperson to address any problems or concerns that the customer may have with their product. All with the goal of trying to capture the loyalty of the customer, since a customer that is happy with an initial purchase is more likely to return.
Jose has been offered a new job. The new job will pay more than his current job. Jose is hesitant to take the new job because it will cause his income to exceed the maximum amount in his current tax bracket. He is concerned that the increase in taxes will exceed his increased income from the new job.
a. This is not possible. Only the portion of income that exceeds Jose's current bracket will be taxed at the higher rate, not his total taxable income.
b. This is possible. Jose's entire taxable income will be taxed at the higher rate which could cause his increased taxes to exceed his increased salary.
Final answer:
Jose's concern that an increase in taxes will exceed his increased income due to moving into a higher tax bracket is unfounded, as only the income exceeding his current bracket's maximum is taxed at the higher rate, not his entire income.
Explanation:
The concern that Jose has about the increase in taxes exceeding his increased income from the new job due to moving into a higher tax bracket is based on a misunderstanding of how tax brackets work. Only the portion of income that exceeds the maximum amount of his current bracket will be taxed at the higher rate; the rest of his income will continue to be taxed at the lower rates applicable to those amounts. This design prevents situations where a raise or higher income results in a lower after-tax income, meaning it is not possible for Jose's increase in taxes to exceed his increase in income purely due to changing tax brackets.
For example, if Jose moves from a job paying just under the limit of one bracket into a job paying above that limit, only the income above the previous bracket's limit is taxed at the higher rate. The rest of his income up to that point is taxed at the same rate as before. The tax system is progressive, meaning that higher income levels are taxed at higher rates, but this applies only to the income within those higher brackets. Hence, the correct statement regarding Jose's situation is: 'This is not feasible. Only the portion of income that exceeds Jose's current bracket will be taxed at the higher rate, not his total taxable income.'
Olessa, single and age 60, sells her home for $540,000 after living there for 20 years. Her adjusted basis in that home was $220,000 and she has an additional $10,000 of selling expenses. What is the maximum gain that Olessa must report in connection with the sale of her principal residence?
Answer:
Net gain = $60,000
Explanation:
Given:
Sale value of house = $540,000
Adjusted value = $220,000
Selling expenses = $10,000
Computation of gross profit on the house:
Gross profit on sale = Sale value of house - Adjusted value - Selling expenses
Gross profit on sale = $540,000 - $220,000 - $10,000
Gross profit on sale = $310,000
Maximum limit on gain from sale of house = $250,000(Form number 1040, Schedule D)
Computation of net gain:
Net gain = $310,000 - $250,000
Net gain = $60,000
Both the seller’s and buyer’s opening escrow packages have some of the same documents. Which document in the opening package is a one-page form that buyers and sellers complete with their personal information so the title company can differentiate between parties with the same or similar names when searching documents recorded by name?
Answer:
Statement of information
Explanation:
The statement of information must be filled out by both the buyer and the seller. This document is used for requesting title insurance. Title insurance protects the buyer from any problems related to the title of the real estate property. The title is the evidence that the seller is the real owner of the property. Before issuing the policy, the title insurance company checks the property's title and searches for any problems or defects that might exist regarding the property.
By examining relationships between items in the statement of cash flows, investors and creditors can do all of the following except make predictions of the amounts, timing, and uncertainty of future cash flows. determine reasons for the difference between net income and net cash provided by operating activities. determine the entity’s ability to earn future income. determine cash investing and financing transactions made during the period.
Answer:
determine cash investing and financing transactions made during the period.
Explanation:
When you analyze the statement of cash flows, you can determine and predict how will operating cash flows be in the future. E.g. a project is generating high amounts of cash, so you can predict that it will continue to do so for some time. But what you cannot predict or even compare is related to the financial and investing transactions that the company will make in the future. E.g. by analyzing a cash flow you cannot know if the company will decide to invest in other projects or will it decide to issue more stocks.
The market for used cell phones is very popular in Barylia. However, several phones available in this market are of inferior quality and it is often impossible to differentiate between a good-quality phone and a poor-quality phone.
Refer to the scenario above. Based on the given information, we can conclude that the market for used cell phones in Barylia:
is perfectly competitive.
has asymmetric information.
has only one seller.
is monopolistically competitive.
has asymmetric information.
You interview with an athletic footwear manufacturer that has annual advertising expenditures of $32 million and total sales revenue of $100 million, and the firm selects the profit maximizing level of advertising expenditures. If the advertising elasticity of demand is 0.4, then you know that "Rule of Thumb for Advertising" implies that the demand for the firm's products is
Answer:
elastic.
Explanation:
The advertising elasticity of demand measures how sensitive a market and sales are to marketing expenses. Advertising elasticity is calculated by dividing the change in quantity demanded by the percentage change in advertising expenses. Generally products with low advertising elasticity tend to have elastic demands.
After successfully overcoming a potential customer's objection to buying the vacuum cleaner he was selling, Terrence, a salesperson, asked the customer for an order. Terrence is in the ________ stage of the selling process.
A) follow-up
B) approach
C) preapproach
D) closing
E) prospecting
Answer:
The correct answer is letter "D": closing.
Explanation:
The selling process describes the steps salespeople go through at the moment of offering goods or services to prospective consumers. The process includes seven (7) steps: prospecting, pre-approach, approach, presentation, overcoming objections, closing, and follow-up. In the closing stage, clerks aks for the methods of payment, delivery method of the products and offer additional complementary goods or services for what is being acquired. Asking for orders is also part of this stage.
Hamilton justified establishing a national bank because he intended:
A. To serve as a means for foreign investors to stabilize the new government.
B. To encourage the wealthy to invest in the bank and become attached to the national government.
C. To provide loans that would strengthen the agrarian nature of the United States.
D. To gain support from southern cities such as Charleston, Savannah and Baltimore.
Answer:
B. To encourage the wealthy to invest in the bank and become attached to the national government.
Explanation:
Alexander Hamilton proposed the idea of having a national bank and it was approved by the congress in 1791.
Hamilton justified establishing a national bank because he intended to encourage the wealthy to invest in the bank and become attached to the national government.
The national bank had $10,000000 (Ten million dollars) in capital.
Hamilton justified establishing a national bank to encourage the wealthy to invest in the bank and become attached to the national government.
Explanation:Hamilton justified establishing a national bank because he intended to encourage the wealthy to invest in the bank and become attached to the national government. By establishing a national bank, Hamilton believed that the wealthy would have a stake in the success of the government and be more likely to support it. This would help stabilize the government and foster economic growth.
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What was the result in Scott v. Mid-Carolina Homes, Inc., the case referenced in the textbook in which the defendant attempted to rescind a contract to sell a mobile home because its salesperson was acting under a mistake of fact when he gave the plaintiff the sales price?
Answer:
E) The seller was not allowed to rescind the contract.
Explanation:
In this case, Mary Scott was interested in purchasing a mobile home from Mid-Carolina Homes. They saw a mobile home that they liked and paid $2,913.71 in advance for it. Then next week the seller told them that they couldn't sell them the home because it was broken and instead sold it to another buyer for a higher amount. Even though they were not willing to sell the home to the Scotts, the company still cashed their check.
The Supreme Court of South Carolina ruled in favor of the Scotts and upheld the $10,000 awarded for breach of contract accompanied by a fraudulent act. But the court also reversed $4,800 in other damages related to unfair trade practices.