Which of the following is not generally required in order to have a valid contract?
a. Mutual assent.
b. A lawful purpose.
c. Fairness of the bargain.
d. Parties who have contractual capacity.
c
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How much would $20,000 due in 50 years be worth today if the discount rate were 7.5%?
A. $438.03 B. $461.08 C. $485.35 D. $510.89 E. $537.78
A new hoist was installed on the delivery truck at a cost of $3,500 . The truck is now usable for heavy duty hauling. This installation did not change the estimated useful life of the vehicle. What account is debited for the cost of the hoist?
a. Delivery Trucks b. Delivery Trucks Expense c. Depreciation Expense--Delivery Trucks d. Accumulated Depreciation--Delivery Trucks e. Truck Repairs Expense
Climax Motors Corp is an all equity company with 40M shares outstanding. Climax's stock trades for $25. Climax has too much cash. The CEO, Trudy Ryder, wants to distribute the excess cash with an open market stock repurchase
She is contemplating buying back $10.9M worth of shares at a price of $25. Ricky Bobby owns 4 million shares of Climax. He purchased his shares before the repurchase for $25. If Ricky does not sell any shares during the repurchase, then what is his change in wealth from before to after the repurchase? A) -$2.50 million B) $0 C) $2.00 million D) $2.50 million E) $5.00 million
A list of key personnel as well as possible successors within a firm is called
A. a replacement chart. B. a skills inventory. C. management inventory. D. a wage survey. E. performance appraisal.