Whalen Mining, a U.S company, purchases products from a British company for £1,000,000. Between the dates of purchase and payment, the exchange value of the pound decreased from $2.00 to $1.90. Compute Whalen Mining's exchange gain or loss. Where would the gain or loss be reported?
Whalen Mining has an exchange gain of $100,000 because it agreed to pay a fixed amount of pounds, and between the date of purchase and payment, the exchange value decreased. Whalen Mining will only have to expend $1,900,000 to settle its account payable. The exchange gain is reported on Whalen's income statement.
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Peter Dementas helped Jack Tallas with numerous personal and business chores towards the end of his life. Two months before his death, Tallas dictated a memorandum to Dementas, in Greek, stating: PETER K. DEMENTAS is my best friend I have in this country, ... he treats me like a father and I think of him as my own son. ...For all the services Peter has given me all these years, I owe to him the
amount of $50,000 (Fifty Thousand Dollars). I will shortly change my will to include him as my heir. Tallas signed the memorandum, but he did not in fact alter his will to include Dementas. This was a real case. The Utah appeals court would rule: a. there was no consideration to support Tallas's promise. b. there is a "moral obligation" exception to the requirement of consideration, and therefore Tallas's promise was supported by consideration. c. because Utah does not recognize the "moral obligation" exception to the requirement of consideration, Dementas prevails. d. the trial court's finding that the services rendered by Dementas to Tallas were performed gratuitously was erroneous.
The police have a right to search any area in which the defendant does not have a reasonable expectation of privacy. Which of the following, however, requires the police to obtain a search warrant?
A)using a cotton swab to take a DNA sample of a person under arrest B)looking at photos on a digital camera that was found while searching an arrested suspect C)listening in on a telephone conversation or searching the digital contents of a cellphone D)finding out what websites you have visited on your computer
In Microsoft Access, the Relationships window is accessed by using the ________ button on the Database tools command tab
Fill in the blank(s) with correct word
In the context of the population-ecology perspective, which of the following is a difference between specialists and generalists?
a. Specialists offer a broader range of products or services than generalists. b. Specialists move slower than generalists and are less flexible. c. Specialists are generally more competitive than generalists. d. Specialists are generally larger than generalists.