Under what circumstances can a person in possession of personal property transfer a better title than he/she has?
(a) a buyer with a voidable title can transfer a valid title to a third party who obtained the goods for value and in good faith; (b) a merchant who comes into temporary possession of gods (e.g. a jeweler) and then sells these goods to a good faith buyer in the ordinary course of business, title would pass to the good faith purchaser.
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If cost of goods sold under FIFO was $8,000 and was $10,000 under LIFO, assuming a tax rate of 40%, how much tax savings resulted from using LIFO?
a. There would be no tax savings. b. $ 800 c. $ 1,200 d. $ 2,000
The partners' rights in partnership entitle them to:
A. take possession of any item of partnership property for personal purposes if its value does not exceed their share of the assets of the partnership. B. devise to an heir any individual item of the firm's property. C. take possession of any item of partnership property for partnership purposes only. D. sell any item of the firm's property if its value does not exceed their share of the assets of the partnership.
The first law regarding civil rights was the Civil Rights Act
Indicate whether the statement is true or false
In the basic EOQ model, if annual demand is 50, carrying cost is $2 per unit per year, and ordering cost is $15, what is the EOQ?
A) 27.39 B) 26.39 C) 25.39 D) 24.39