Clinton appointed DeWitt, a minor, to sell some of his lumber to Broward. Broward signed a contract with DeWitt to purchase the lumber but then refused to go through with the deal when he learned that DeWitt was a minor. May Broward refuse to go through with the transaction?
No. A minor can act as an agent, and Broward cannot refuse to go through with the transaction.
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The satisfactory development of a relationship depends on the ______.
Fill in the blank(s) with the appropriate word(s).
An organization that offers the use of software through communication lines is called a(n) _____.
Fill in the blank(s) with the appropriate word(s).
Which set of characteristics is associated with a great founding team?
a. wealth, technical skills, intelligence, ability to cope with pressure b. ability to cope with pressure, social and technical skills, ability to overcome complex obstacles c. financial backing, large social networks, business-related skillsets d. ability to cope with pressure, social skill, financial stability
On June 30, Alpha Company's cash balance is $4,000
Alpha is now preparing their cash budget for the third quarter of the year. The following data is provided: Cash budget July Aug Sep Beginning cash balance $4,000 $8,000 $6,958 Plus: Cash collections 50,000 40,000 49,000 Cash available $54,000 $48,000 $55,958 Less: Cash payments Purchases of direct materials 31,000 22,000 17,100 Operating expenses 12,000 9,000 11,000 Capital expenditures 13,000 25,000 0 Interest expense at 5% 0 42 104 Less: Total cash payments $56,000 $56,042 $28,204 Ending cash balance before financing $(2,000 ) $(8,042 ) $27,754 Minimum cash balance desired (5,000 ) (5,000 ) (5,000 ) Cash excess/(deficiency) $(7,000 ) $(13,042 ) $22,754 Financing Borrowing at end of month 10,000 15,000 Principal repayments at end of month $(20,000 ) Total effects of financing 10,000 15,000 (20,000 ) Ending cash balance $8,000 $6,958 $7,754 The amount of cash that should be shown in the budgeted balance sheet as of September 30 would be ________. A) $6,958 B) $55,958 C) $7,754 D) $22,754