Why are minors held liable on a quasi contract basis for the reasonable value of necessaries furnished to them?
What will be an ideal response?
Minors are generally held liable on a quasi contract basis for the reasonable value of necessaries furnished to them because penalizing adults who supply minors with necessaries would not only produce an unfair result but also discourage other adults from supplying minors with necessaries.
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Which of the following represents shares of stock that will be issued upon completion of an installment purchase contract?
A. subscribed capital stock B. outstanding capital stock C. treasury stock D. contracted capital stock
Treasury stock is added to the total of the preferred and common stock in the stockholders' equity section of the corporate balance sheet
Indicate whether the statement is true or false
Kirk Wilkins renewed his cell phone contract with Zip Wireless Services and purchased a new cell phone through the Zip Web site. If Kirk mails Zip Wireless Services his transaction receipt, he would be eligible to receive $50 as cash refund
Which of the following types of sales promotion is evident here? A) point-of-purchase promotion B) advertising specialty C) premium D) price pack E) rebate
Which of the following is not a generally accepted basis for inventory valuation?
a. net realizable value b. variable manufacturing cost c. replacement cost d. acquisition cost e. net realizable value reduced by a normal profit margin