If the contract calls for the parties to perform their duties at the same time, each party's duty to perform is conditioned on the other party's performance. These conditions are called conditions subsequent.
Answer the following statement true (T) or false (F)
False
You might also like to view...
International investors believe that when a country gets into financial trouble, the IMF will rescue the country, thus reducing the investors' risk. As a result, investors take greater risks than they would otherwise. This is an example of
A. a risk premium. B. a lender of last resort. C. adverse selection. D. moral hazard.
________ is similar to that conducted in domestic marketing research. The objective is to gain an understanding of the relationships and patterns existing in each country or cultural unit
A) Cross-cultural analysis B) Individual-level analysis C) Pancultural analysis D) Intracultural analysis
Answer the following statements true (T) or false (F)
1. Facebook is considered a type of information network. 2. Within an information network, customers and suppliers have direct communication. 3. The phenomenon of employees working in the evenings and weekends through their various devices is called “the second shift.” 4. Approximately half of all employees admit to using their work computers for personal use.
Bourland Corporation is considering a capital budgeting project that would require investing $80,000 in equipment with an expected life of 4 years and zero salvage value. Annual incremental sales would be $250,000 and annual incremental cash operating expenses would be $180,000. The project would also require a one-time renovation cost of $40,000 in year 3. The company's income tax rate is 30% and its after-tax discount rate is 8%. The company uses straight-line depreciation. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. The income tax expense in year 3 is:
A. $3,000 B. $15,000 C. $12,000 D. $21,000