Tim, who is a minor, enters into a contract with Violet, who is an adult. Which of the following is correct?
a. Violet may disaffirm the contract at any time.
b. Violet may disaffirm the contract when Tim becomes an adult.
c. Violet may not disaffirm the contract.
d. Tim may ratify the contract at any time during his minority.
c
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Landmark Corp. buys $420,000 of Schroeter Company's 8%, 5-year bonds payable at par value on September 1. Interest payments are made semiannually. Landmark plans to hold the bonds for the 5-year life. When the bonds mature, the journal entry to record the proceeds will be:
A. Debit Cash $420,000; credit Interest Receivable $420,000. B. Debit Cash $420,000; credit Interest Revenue $420,000. C. Debit Debt Investments-HTM $420,000; credit Cash $420,000. D. Debit Cash $420,000; credit Bonds Payable $420,000. E. Debit Cash $420,000; credit Debt Investments-HTM $420,000.
Jenny was buying the company's first video teleconferencing system, and she involved all of the company's department heads in the decision. Jenny spent weeks evaluating options, inviting RFPs, and negotiating with vendors before she finally made a purchase decision. This buying situation would most likely be classified as a
A. new buy. B. straight rebuy. C. modified buy. D. modified rebuy.
A job description explains
A) what personal qualities company leaders consider important to the job. B) how much the position pays on an annual basis. C) what a job entails, such as a list of duties and responsibilities. D) what behaviors would be grounds for dismissal from the job.
A network is a communications system created by linking two or more devices and establishing a standard methodology by which they can communicate.
Answer the following statement true (T) or false (F)