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Oksanka [162]
2 years ago
6

Tommy McCartney is a sixteen-year-old high school student. He has worked forty hours per week at the local convenience store ove

r the last year, and has diligently saved $6,000 for the purchase of his first car. While visiting a local car dealership, Tommy finds the “car of his dreams,” a used yellow Camaro. Tommy walks into the dealership, announces to the dealership owner that he is “ready to buy,” negotiates $6,000 as the purchase price, and leaves the dealership a proud car owner. Over the course of the next six months, Tommy drives the Camaro eight thousand miles, wears the tires thin, dents the left front fender, and regrets his purchase. He realizes that in two short years college will beckon, and he knows that his parents cannot afford to pay for his higher education. In short, he wants his money back. On a Saturday morning, Tommy returns to the car dealership, walks into the sales office, and hands the keys to the seller, asking for the return of his $6,000. The dealer chuckles, and then his look turns stern, saying “Son, I don’t owe you anything. You’ve just learned a lesson in the ‘School of Hard Knocks.’ The car is still yours, and the money is still mine!” Who will prevail? Is it legal and/or ethical to allow Tommy to escape his contractual obligations?
Business
1 answer:
Aleks [24]2 years ago
5 0

Explanation:

First of all, the dealer should not have sold the car to the sixteen year old boy without the presence of his parents or any guardian. It is illegal to have a contract with a child who is not legally allowed to drive the car before the age of eighteen.

Now secondly if the dealer has somehow sold the car to the boy, the boy cannot come back after few months and ask for returning his money because he purchased the car, the condition of the condition of the car got worse during the whole time when car was with him, and also there is no legal clause in the agreement which allows him to demand his money back after using the car for this long time. So demanding his money back from the dealer is totally unethical as well as illegal. The dealer is true that the car is still the property of the boy and the money is still the dealer's money.

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​bill's organization expects​ 50% of profits to be generated by products that did not exist five years ago. what is the nature o
Elena-2011 [213]
The nature of the program that the organization's managers are likely to follow is INNOVATIVE. The organization's manager wanted to improve the products and set a goal to reach so that the employee will do their best to reach the goal that they didn't exist five years ago.
6 0
2 years ago
TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns.
myrzilka [38]

Answer:

1. fixed and indirect

2. variable and direct

3. variable and direct

4. fixed and indirect

5. fixed and indirect

6. variable and direct

Explanation:

<u>Fixed and variable costs</u>

A fixed cost is expected to be constant for a short term period whilst a variable cost is expected to vary in direct proportion to the number of units produced in this case it is the individual classes.

Depreciation expense on classroom building and on computers is a fixed cost that is expected to remain constant and the instructor wage varies with the number of classes thus a variable cost.

<u>Direct and Indirect costs</u>

A direct cost can be directly traced to the cost object by observation whist the indirect cost can not be directly traced on a cost object.

The instructors wage is a direct cost, his effort is seen with the success of the classes whist the depreciation expenses are indirect costs.

4 0
2 years ago
Journalize the following labor-related transactions for Portland Creations at its plant in Portland, Oregon. Assume that the lab
dybincka [34]

Answer: Debit overhead expenses $78,530 Credit wages payable $78,530

Explanation: The $78,530 was arrived at by adding all the wages amount ($620 + $910 + $77 000). Recognizing the journals as compound entries means the total amount of the wages would be used instead of simply recognizing the debits and credits for each wage amount.

Since the wages have been incurred but not paid, a payable has to be recognized. When payment is eventually to be made, it would be from the payable account by way of debiting the payable account and crediting cash.

4 0
2 years ago
Before prorating the manufacturing overhead costs at the end of 2020, the Cost of Goods Sold and Finished Goods Inventory accoun
AnnZ [28]

Answer:

$2069

Explanation:

Given

Applied overhead costs of Goods sold = $59,300

Applied overhead cost of finished goods = $38,000

Overhead Balance = $97,300

Overhead Cost = $92,000

Overapplied Overhead = Overhead Balance - Overhead Cost

Overapplied Overhead = $97,300 - $92,000

Overapplied Overhead = $5,300

Allocated Amount = (Applied Overhead * Finished Goods /(Overapplied Overhead)

Allocated Amount = ($5,300 * $38,000) ($59,300 + $38,000)

Allocated Amount = ($5,300 * 38,000) (97,300)

Allocated Amount = $2069

5 0
2 years ago
Read 2 more answers
Ruth Hu recently inherited $200,000. She has invested the inherited money in real estate and government securities. Hu is using
ExtremeBDS [4]

Answer:

Store of value.

Explanation:

Ruth Hu recently inherited $200,000. She has invested the inherited money in real estate and government securities. Hu is using her money as a store of value.

A store of value can be defined as the characteristic of an asset which makes it tradable, can be saved, maintain its value, retrievable and exchanged at a future time without it depreciating.

Assets with such functions or characteristics are money, gold, diamonds and other precious stones.

8 0
1 year ago
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