Describe how ski resorts manage traditionally seasonal supply and demand fluctuations
What will be an ideal response?
Traditionally ski resorts only operated during the winter months, shutting down for the summer. Realizing that hiking and mountain biking were coming into vogue, as well as the value of offering other summer activities, resorts began opening in the summertime. This allowed the firms to smooth the seasonal demand and create value out of unused capacity. Chairlifts used for skiing and restaurants used for feeding customers now operate year round instead of laying dormant for half of the year.
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One may become liable through ratification for an unauthorized act that was done by an agent.
Answer the following statement true (T) or false (F)
Steve owns 64% and Mark owns 36% of a partnership business. They purchase equipment with a suggested value of $9600. The current market value of the equipment at the time of purchase was $9100. At the time of the balance sheet preparation, depreciation of $160 was recorded. Based on the information provided, which of the following is TRUE of the partnership?
A) The Equipment account will be debited at $9100 on the date of purchase. B) The Equipment account will be debited at $8940 on the date of purchase. C) The Equipment account will be debited at $9600 on the date of purchase. D) The Equipment account will be debited at $9440 on the date of purchase.
Lithium Lakes Industries preferred stock has a par value of $100 and pays a dividend of $6.00 per
share. It presently sells for $87 per share. What do investors require as a rate of return on this stock? Round off to the nearest .10%. A) 6.9% B) 14.5% C) 6.0% D) 9.3%
A tornado causes the garage to collapse on Mr. Woody's car, and the damage to the car is $5,000. Mr. Woody has a PAP with both Collision and Other than Collision coverages. A $200 deductible applies to the Collision coverage
There is a $0 deductible on Other than Collision coverage. How much is paid by the PAP for the tornado damage? A) $0 B) $4,000 C) $4,800 D) $5,000