After Michael, a minor aged sixteen, purchased a compact disc player from Rollins Electronics, he decided to return it. Before he got a chance to do so, his little brother smashed it with a hammer. In order to disaffirm the contract under the majority view, he
a. need only return the damaged compact disc player.
b. must pay for any damage to the compact disc player.
c. must pay for any depreciation to the compact disc player.
d. must pay for any damage and pay for the use of the compact disc player.
A
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If a person assigns the same contract rights to more than one assignee, the majority of courts
would decide that: A) The first assignee to give notice would prevail. B) The first assignee to file a lawsuit would prevail. C) The first assignee to be assigned the rights would prevail. D) The first assignee to collect would prevail.
When infrastructure is publicly owned, it is important to price usage to reflect
A) the cost of rebuild the infrastructure once it is fully depreciated. B) the incremental profit from the use of the infrastructure. C) the marginal impact on the cost to society. D) the market clearing price.
Patrick Co. produces computer desks and uses a standard cost system. Materials standards are 6.75 pounds of material at $10.40 per pound and 5.2 hours of labor at a standard wage rate of $10.50. During December, Patrick Co. produced and sold 3,100 desks. Materials purchases totaled 20,800 pounds at a total cost of $224,780. Materials usage totaled 20,970 pounds. Payroll totaled $183,660 for 17,140 hours worked. Patrick Co. does not maintain inventories other than direct materials. Prepare journal entries to record the following transactions.a. Direct materials purchaseb. Direct materials usagec. Direct labor incurred
What will be an ideal response?
Two tables are ____ compatible if they have the same number of columns and if their corresponding columns have identical data types and lengths
a. union b. minus c. difference d. intersect