Harry finds an old stereo in his attic. He sells the stereo to Jake for $50 telling him that it is fully functional, which Jake thinks is true. However, it turns out to be broken. Which of the following statements is true in this context?
A) Jake can sue Harry for fraud in the inducement.
B) Jake cannot rescind the deal but can sue Harry for fraud by concealment.
C) Jake can sue Harry for innocent misrepresentation.
D) Jake can rescind the deal but cannot sue Harry for innocent misrepresentation.
D
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a. True b. False Indicate whether the statement is true or false
Grove Corporation had sales of $3,000,000, cost of sales of $2,250,000, and average inventory of $500,000. What was Grove's inventory turnover ratio for the period?
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Indicate whether the statement is true or false