Acorn and Bean were general partners in a farm machinery business. Acorn contracted, on behalf of the partnership, to purchase 10 tractors from Cobb Corp Unknown to Cobb, Acorn was not authorized by the partnership to make such contracts. Bean refused to allow the partnership to accept delivery of the tractors, and Cobb sought to enforce the contract. Cobb will:
a. Lose, because Acorn's action was beyond the scope of Acorn's implied authority.
b. Prevail, because Acorn had implied authority to bind the partnership.
c. Prevail, because Acorn had apparent authority to bind the partnership.
d. Lose, because Acorn's express authority was restricted, in writing, by the partnership agreement.
.B
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Explain the three types of dismissals.
What will be an ideal response?
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department.Equivalent Units of ProductionDirect Materials Conversion Units Completed and transferred out 50,000 50,000 Units in Ending Work in Process: Direct Materials (15,000 × 100%) 15,000 Conversion (15,000 × 80%) 12,000 Equivalent Units of Production 65,000 62,000 Cost per Equivalent Unit Costs of beginning work in process $40,500 $59,700 Costs incurred this period 136,000 183,100 Total costs $176,500 $242,800 Cost per equivalent unit $2.71per EUP $3.92per EUP The total conversion costs transferred out of the Canning Department equals:
A. $176,150. B. $183,100. C. $243,040. D. $196,000. E. $242,800.
Which of the following are NOT included in a post-closing trial balance?
A) Assets and liabilities B) Retained Earnings and assets C) Common Stock and liabilities D) Revenues and expenses
Each column in the dataset represents one ________
A) object B) method C) operation D) attribute