Identify and describe the principal contract interests a court may seek to protect.
What will be an ideal response?
The principal contract interests a court may seek to protect are:a. Expectation interest. The intent is to put the injured party in the position he would have been in if both parties had fully performed their obligations. Expectation damages include direct, consequential, and incidental damages.b. Reliance interest. The intent is to put the plaintiff in the position he would have been in if the parties had never entered into a contract.c. Restitution interest. The objective is to return to the injured party a benefit that he has conferred on the other party which it would be unjust to leave with that person.d. Equitable interest. In some cases, money damages will not suffice to help the injured party. Something more is needed.
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Kater Company manufactures shelving units. The company receives pre-cut wood, drills holes in the wood so that movable shelves may be installed, then assembles and paint the units. Classify each of the following items of factory overhead as either fixed or variable cost
a. Janitorial service (an outside service, not company employees) b. Supervisor of the Drilling Department c. Oil used to lubricate drill press machines d. Propane for forklift trucks used to move the material from the Drilling Department to the Assembly Department e. Natural gas used to heat the plant f. Security guard g. Drill bits used in the drilling department h. Insurance on factory building i. Electricity to power drill press machines j. Rent of factory building
Gershwin Company reported net income of $428,000 and paid $8,500 in preferred cash dividends during the current year. The company had 110,000 common shares issued, and 10,000 common shares in treasury during the year. The year-end market price per common share was $41.05. Calculate the company's price-earnings ratio.
What will be an ideal response?
Unliketotal quality management (TQM), Six Sigma:
A. focuses on reducing the processing time of production activities. B. uses advanced techniques thatrequire a high level of expertise. C. pursues a strategy of correcting mistakes rather than preventing defects. D. emphasizes holding of large inventories of goods.
Choosing to locate in a country where the company would be given tax breaks for locating would likely involve which location decision consideration?
a. National competitiveness b. Proximity to markets c. Taxes and incentives d. Regional trade agreements