Which of the following is correct about contracts entered into by insane persons?
A) Contracts entered into by persons adjudicated insane are void, and those entered into by
nonadjudicated insane persons are voidable.
B) Contracts entered into by all insane persons are voidable.
C) Contracts entered into by persons adjudicated insane are voidable, and those entered into
by nonadjudicated insane persons are void.
D) Contracts entered into by all insane persons are void.
A
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Use this information to answer the following question. Beginning inventory 100 units @ $8.00 Purchase-Oct. 200 units @ $6.00 Purchase-Dec. 100 units @ $12.00 A periodic inventory system is used; ending inventory is 150 units. What is ending inventory under the average-cost method?
A) $900 B) $1,050 C) $1,350 D) $1,200
The _______________ refers to the intrinsic benefits that boycotting can create for the individual consumer.
a. Desire to make a difference b. Scope of self-enhancement c. Counterarguments that inhibit boycotting d. Cost to the boycotter of constrained consumption
Which of the following is true regarding the liability of the partners in a limited partnership?
A) Both the limited and general partners have unlimited liability for the partnership debts. B) If a corporation is a partner, its shareholders have unlimited liability for the partnership debts. C) The limited partners have limited liability and the general partners have unlimited liability for the partnership debts. D) The limited partners have unlimited liability and the general partners have limited liability for the partnership debts. E) Neither the limited nor the general partners have unlimited liability for the partnership debts.
Primary liability does not apply to issuers of cashier's checks
a. True b. False Indicate whether the statement is true or false