The law requires that the proceeds from a home equity loan be used only for the renovation of a single family dwelling
Indicate whether the statement is true or false.
FALSE
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The data presented below is for Mellon Corporation for the year ended December 31, 2015: Sales (100% on credit) $1,500,000 Sales returns 60,000 Accounts Receivable (December 31, 2015) 250,000 Allowance for Doubtful Accounts (Before adjustment at December 31, 2015) 3,000 Estimated amount of uncollectible accounts based on an aging analysis 31,000 Refer to the data for Mellon Corporation. If Mellon
estimates its bad debts at 2% of net credit sales, what amount will be reported as bad debt expense for 2015? a. $25,800 b. $27,000 c. $28,800 d. $30,000
Jenny is noticing that her staff at the clothing consignment shop seem to be a little demotivated. Initially she thinks that she needs to pay her employees more money, but then realizes that she just does not have the funds to do so. With a little prying, she determines that her employees are just bored with their positions. She decides to change up the schedule. Whoever worked the front counter one day will switch to consignment the next day. Also, the people out on the floor will switch with the dressing room attendants. Jenny has implemented which job design motivational tactic?
A. job purpose B. job design C. job enlargement D. job rotation
An agency is created if one person ratifies another's unauthorized act
Indicate whether the statement is true or false
Ken, a research chemist, has been promised a fellowship with a stipend of $10,000 to do research on synthetic fuel oil. Under the terms of the fellowship, Ken is free to use the money as he sees fit. Ken decides to build his own laboratory, so he will
not have to rent one. He hires a carpenter who begins working on shelving and cabinets in the laboratory. Then Ken receives a telegram saying the fellowship has been canceled. No reason is given for the cancellation. If Ken sues, will he be able to collect the money from the foundation which promised the fellowship? Explain your answer using legal terminology.