Private lotteries, which generally are held to be illegal, involve three elements:
A)prize, chance, and consideration
B)return, skill, and wager.
C)prize, skill, and consideration.
D)attractive return, minimal involvement, and skill.
A
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The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit SalesJanuary$70,000$340,000February$50,000$190,000March$40,000$135,000April$35,000$120,000May$45,000$160,000June$40,000$140,000The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:Collections on sales:60% in month of sale30% in month following sale10% in second month following saleThe accounts receivable balance on January 1 of the current year was $70,000, of which $50,000 represents uncollected December sales and $20,000 represents uncollected November sales.The total cash collected during January by LaGrange Corporation would be:
A. $254,000 B. $410,000 C. $344,000 D. $331,500
The study of waiting lines is called queuing theory
Indicate whether the statement is true or false
A firm's _____ refers to its holdings of currency plus demand deposits.
A. inventory B. accrue C. debt D. cash
Smitty enters into an illegal bargain with Taylor. Smitty can enforce the contract or recover for its value if he has been induced to enter into the bargain as a result of
A. fraud. B. his desire to obtain the object of the deal. C. a persuasive "sell" by Taylor. D. his belief that Taylor would do right by him.