Vinson left a sewing machine with Adams Repair Shop to have the motor replaced. In spite of a burglar alarm system, thieves broke into the shop and stole most of the items, including Vinson's sewing machine. Is the repair shop liable for the loss of the sewing machine?
No. In a mutual benefit bailment, the bailee is expected to exercise reasonable care. In this case, the existence of a burglar alarm system constituted reasonable care. Vinson must suffer the loss.
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The board of directors of Chandler Company declared a cash dividend. Which of the following choices accurately reflects how this event would affect the elements of the company's financial statements? Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt. ofCash FlowsA.NA + ?NA + ?NAB.? NA ?NA NA NA?FAC.? NA ?NA NA NA?OAD.NA + ?NA NA NANA
A. Option A B. Option B C. Option C D. Option D
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Fill in the blank(s) with correct word
Indiana Wood can be best classified as a(n) ________
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