MM
Mohamed Mohamud
Answers (6)
MM
Answered
Melody Inc. had a November ending cash balance of $15,000. As well, it had sales of $10,000 in November, $20,000 in December, and projects sales of $25,000 for January, $30,000 for February, and $35,000 for March. The firm collects its receivables in the month after the sale. Given this information, calculate its cash balance at the end of March.
A) $75,000
B) $80,000
C) $90,000
D) $100,000
E) $110,000
A) $75,000
B) $80,000
C) $90,000
D) $100,000
E) $110,000
On Jul 18, 2024
E
MM
Answered
What is the "threefold test" and how is it applied in cases of negligent misrepresentation? In what way has the Supreme Court of Canada changed the application of this test?
On Jul 17, 2024
The threefold test is determined by:
i. Whether harm was foreseeable.
ii. Whether there was a relationship of sufficient proximity.
iii. In terms of public policy, whether it would be just and reasonable to impose the duty on the party making the statement.
See Hercules Managements Ltd. v. Ernst & Young case for Supreme Court comments.
i. Whether harm was foreseeable.
ii. Whether there was a relationship of sufficient proximity.
iii. In terms of public policy, whether it would be just and reasonable to impose the duty on the party making the statement.
See Hercules Managements Ltd. v. Ernst & Young case for Supreme Court comments.
MM
Answered
A contract is considered to be unequivocal even when a term is susceptible to more than one interpretation.
On Jun 17, 2024
False
MM
Answered
A positive externality is shown by a marginal social benefit (MSB) curve that is:
A) above and to the right of the demand curve for the good that generates it.
B) below and to the left of the demand curve for the good that generates it.
C) above and to the left of the supply curve for the good that generates it.
D) below and to the right of the supply curve for the good that generates it.
E) positively related to both the supply curve and the demand curve for the good that generates it.
A) above and to the right of the demand curve for the good that generates it.
B) below and to the left of the demand curve for the good that generates it.
C) above and to the left of the supply curve for the good that generates it.
D) below and to the right of the supply curve for the good that generates it.
E) positively related to both the supply curve and the demand curve for the good that generates it.
On Jun 16, 2024
A
MM
Answered
After adjustment,the balance in the Allowance for Doubtful Accounts has the effect of reducing Accounts Receivable to its estimated realizable value.
On May 18, 2024
True
MM
Answered
The UCC states that a properly dispatched acceptance sent by any reasonable means of communication within a reasonable time is effective on dispatch.What does the UCC mean by "reasonable" here?
On May 16, 2024
The understanding of what constitutes "reasonable" depends on the circumstances in which the offer was made.These include the speed and reliability of the means used by the offeree,the nature of the transaction,the existence of any trade usage governing the transaction,and the existence of prior dealings between the parties.