Percy, age 17, purchased a used mobile home from a mobile home dealer for $20,000 . This price, however, is twice the reasonable value of that mobile home. Several months later, Percy wants to disaffirm the contract. If the mobile home is considered a necessary item:
a. Percy can disaffirm the contract based on the wrongful act of the dealer.
b. Percy can disaffirm the contract because the minor can live in an apartment rather than a mobile home.
c. Percy is only liable for the reasonable value of the mobile home.
d. Percy must keep the mobile home and abide by the original terms of the contract.
c
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Yukon Corporation purchases 1,000 shares of its own stock from Jones at a price of $50 a share. These shares, which are now issued but not outstanding, are known as:
a. treasury shares. b. preemptive shares. c. preferred stock. d. no par stock.
Affective commitment is defined as a desire to remain a member of an organization due to an emotional attachment to, and involvement with, that organization.
Answer the following statement true (T) or false (F)
A partner has ____ authority to hire and fire employees whose services are necessary to carry on the business of the partnership
A) no B) limited C) apparent D) actual implied
The Pareto principle is best applied to which of the following inventory systems?
A. EOQ B. Fixed-time-period C. Single-period ordering system D. Fixed-order quantity E. ABC classification