A doctrine to avoid injustice that is used by the courts to bind a promisor to promises that a reasonable person would rely upon without consideration, is called:
a. settlement agreement
b. accord and satisfaction c. unliquidated debt
d. performance contract e. promissory estoppel
e
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Answer the following statements true (T) or false (F)
1. Openness is one of the five traits in the text that focuses on honesty and trustworthiness. 2. A strength of the trait approach is that it links specific leader traits to organizational outcomes. 3. The trait approach focuses primarily on the leader, not on the followers or the situation. 4. The great person approach stresses that leaders' traits are learned. 5. The great person approach focuses on important political leaders.
Haupt Inc. manufacturers water pumps. Each pump requires $155 of raw materials and $315 of conversion costs. Each pump is sold for $725. Last month Haupt produced and sold 69 pumps. The journal entry to record cost of goods sold would include:
A. Credit to cost of goods sold of $50,025. B. Debit to sales of $50,025. C. Credit to sales of $32,430. D. Debit to cost of goods sold of $32,430. E. Debit to accounts receivable of $32,430.
Beta coefficient is an index of the degree of movement of an asset's return in response to a change in the risk-free asset
Indicate whether the statement is true or false
The Hannibal Homers minor league baseball club is considering an expansion of its stadium to increase capacity by 2000 seats
Management estimates increased revenue from ticket and concession sales to be $600,000 per year for the next 5 years. The cost of expansion is $750,000, with an additional $50,000 in working capital. The working capital increase is permanent (will not be recovered after 5 years). Annual costs are expected to increase by $200,000 per year, the club's cost of capital is 14%, and its tax rate is 30%. If the stadium addition is depreciated in a straight line to a value of $0.00 over 5 years, what is the IRR of this project? (Ignore any revenues or costs associated with a terminal value of the project after five years.) Use a financial calculator to determine your answer. A) 9.41% B) 14.00% C) 25.33% D) 29.45%