In West Africa, Burkina Faso, the Ivory Coast and Senegal are former French colonies, while Nigeria, Sierra Leone, and Ghana are former British colonies. Based on this information, which of the following would be correct?
A) Burkina Faso, the Ivory Coast and Senegal are civil-code countries, while Nigeria, Sierra Leone, and Ghana are common-law countries.
B) Burkina Faso, the Ivory Coast and Senegal are common-law countries, while Nigeria, Sierra Leone, and Ghana are civil-code countries.
C) West Africa, the Ivory Coast and Senegal are the only common-law countries.
D) All the West African nations mentioned are likely to be civil-code countries.
E) All the West African nations mentioned are likely to be common-law countries.
A
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After retiring from Jones Corp., a partnership founded by Megan Jones and other partners, Megan grew tired of staying at home and started visiting the firm's place of business. The other partners would introduce her to prospective customers as "My partner, Ms. Jones," or "Our partner, Ms. Jones." Megan did not bother to correct anybody about this. She was introduced in this manner to Tiffany, a new customer. Relying on the idea that Megan was a partner, Tiffany entered into a contract with Jones Corp. Which of the following statements is true of Megan if Jones Corp. does not fulfill its obligations?
A. Megan will not be liable as she did not make any claims to partnership. B. Megan will be liable because she failed to correct the statement when she was being introduced as a partner. C. Megan will not be liable as she has withdrawn from the partnership agreement by retiring and she is no more an actual partner. D. The partner who introduced Megan will be liable, but Megan will not be liable.
[The following information applies to the questions displayed below.] Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $42,000 of common stock for cash. 2) The company paid cash to purchase $26,400 of inventory. 3) The company sold inventory that cost $16,000 for $30,600 cash. 4) Operating expenses incurred and paid during the year, $14,000. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $35,200 of inventory. 2) The company sold inventory that cost $32,800 for $57,000 cash. 3) Operating expenses incurred and paid during the year, $18,000. Note: Sanchez uses the perpetual inventory system.What is Sanchez's gross margin for Year 2?
A. $6,200 B. $24,200 C. $32,800 D. $21,800
Jordan Manufacturing uses a predetermined overhead allocation rate based on a percentage of direct labor cost
At the beginning of the year, it estimated the manufacturing overhead rate to be 30% times the direct labor cost. In the month of June, Jordan completed Job 13C, and its details are as follows: Direct materials cost $6,400 Direct labor cost $21,000 Direct labor hours 34 hours Units of product produced 200 What is the cost per unit of finished product of Job 13C? (Round your answer to the nearest cent.) A) $168.50 B) $146.60 C) $137.05 D) $136.50
________ is a process that establishes the right of a secured creditor against other creditors who claim an interest in the collateral.
A. Disposition of collateral B. Retention of collateral C. Perfection of a security interest D. Repossession of a security interest