Dependable Appliances, Inc, and Elaine enter into a contract for a sale of kitchen appliances. Dependable, a merchant who deals in goods of the kind sold, notes that its goods come with an implied warranty of merchantability. Under the UCC, this means that the goods are reasonably
A) fit for the buyer's particular purpose
B) fit for the ordinary purpose for which such goods are used.
C) suitable for resale at an acceptable price.
D) the best quality that money can buy.
B
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Soledad and Winston are partners who share income in the ratio of 1:3 and have capital balances of $100,000 and $140,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $130,000 . What amount of loss on realization should be allocated to Winston?
a. $110,000 b. $97,500 c. $42,500 d. $82,500
Which of the following statements regarding resource utilization is not true?
A) Resource utilization decisions are usually short-term in nature. B) Resource utilization decisions require the identification of a constraint. C) Resource utilization decisions relates to an analysis of which fixed costs are unavoidable. D) Resource utilization decisions require managers to compute a product's contribution margin.
In 2011, an earthquake and subsequent tsunami shut down the Fukushima Dai-ichi nuclear power plant in Fukushima, Japan, for months. This is an example of ______.
a. an unforeseen event that can disrupt operational and supply chain activities b. the success of contingency planning c. the quick response by the Japanese government in rescue operations d. the need for ISO intervention
During December, Hynes Corporation plans to serve 35,000 customers. Revenue is $2.00 per customer served. Wages and salaries are $24,600 per month plus $0.50 per customer served. Supplies are $0.30 per customer served. Insurance is $5,400 per month. Miscellaneous expenses are $4,100 per month plus $0.10 per customer served.Required:Prepare the company's planning budget for December.
What will be an ideal response?