Jeff was a subcontractor, bidding on a contract for ACE Corp., the general contractor. When adding up the total of materials and labor, Jeff's secretary mistakenly moved the decimal point one place, ending up with a bid of $3500 rather than $35,000. ACE Corp. accepted Jeff's bid, mostly because all the other bids were over $30,000. When Jeff learned of the mistake, he tells ACE Corp. that he cannot do the job for $3500. If ACE Corp. sues to enforce this contract, what is the most likely result?

Answers

Answer 1

Answer:

ACE Corp. would lose.

Explanation:

Even though this would be considered a unilateral mistake from Jeff's side, the other party, ACE Corp., could easily realize that there was something wrong with it. It is not logical to believe that Jeff would be able to build something at only 10% of the cost than the rest of the competition.


Related Questions

A mother wants to invest ​$ for her​ son's future education. She invests a portion of the money in a bank certificate of deposit​ (CD account) which earns​ 4% and the remainder in a savings bond that earns​ 7%. If the total interest earned after one year is how much money was invested in the CD​ account?

Answers

Answer:

the amount of money i.e. invested in the CD account is $3,666.67

Explanation:

The computation of the money invested in the CD account is shown below:

Let us assume the amount invested be x

So, the equation i.e. to be made is

0.04x + 0.07 × ($11,000 - x) = $660

0.04x + $770 - 0.07x = $660

-0.03x = -$110

x = $3,666.67

Hence, the amount of money i.e. invested in the CD account is $3,666.67

Identify a true statement about planning. a. It involves deciding where decisions will be made. b. It is the process of monitoring progress toward goal achievement. c. It involves inspiring and motivating workers to work hard to achieve organizational goals. d. It encourages employees to engage in behaviors directly related to goal accomplishment.

Answers

Answer:

a. It involves deciding where decisions will be made

Explanation:

Planning is carried out by businesses to chart a way for achieving its business objectives.

It involves defining goals and focusing on a company's future direction.

Decisions on actions and resource use necessary to meet these goals are outlined.

In essence planning is deciding in advance what is to be done, when it should be done, how it is going to be done, and who is responsible to do it.

A schedule of activities are seen up stating specific actions and time frames from achieving each step.

The sensitivity of "realized" domestic currency values of the firm's contractual cash flows denominated in foreign currency to unexpected changes in the exchange rate is

Answers

Answer: Transaction exposure

Explanation:

Transaction exposure is simply the sensitivity of "realized" domestic currency values of the firm's contractual cash flows denominated in foreign currency to unexpected changes in the exchange rate.

Transaction exposure shows the uncertainty level that is faced by a business that is involved in international trade. It is regarded as the risk that there'll be fluctuation in the exchange rates will when a firm undertakes a financial obligation.

Which type of telephone answering system requires a health care worker to check in either at regular intervals while the agency is closed or on the next business day

Answers

Answer:

Answering machine

Explanation:

Answering machine is a form of telephoning system that is designed to automatically answer and record telephone calls  even when a receiver is not around to do so.With this feature , it allows flexibility as the user can still attend to other functions without loosing track of the the calls for the day.

Even though it has a weakness in that calls that require immediate responses may not get such , however , those calls can be responded to as soon as the users get to know about it , hence the need for frequent check of the call logs by the user.

Looking at this definition , it it suits the need of a regular health worker that need to check in either at regular intervals while the agency is closed or on the next business day.

Tayco Corporation has just paid dividends of $3 per share. The earnings per share for the company was $4. If you believe that the appropriate discount rate is 15 percent and the long-term growth rate in dividends is 6 percent, and earnings is 6 percent, then the firm's P/E ratio is

Answers

Answer:

the price earning ratio is 8.33

Explanation:

The computation of the price earning ratio is shown below:

P/E Ratio is

= share price ÷  Earning Per share

where,

The price of a share is

= 3 × 106

= $3.18

And, the earning per share is

= $4 × (1.06) ÷ (0.15 - 1.06)

So, the price earning ratio is

= (3 × (1.06) ÷  4(1.06)÷ (0.15 -0.06))

= 8.33

Hence, the price earning ratio is 8.33

Strong brands a. are a liability. b. guarantee success for a company. c. are the most significant barrier to entry in the market. d. deliver greater returns with less risk.

Answers

Answer:

d. deliver greater returns with less risk.

Explanation:

Strong brands are known to have a lot of positives, which includes representation of individuals or customers' viewpoints of the company's services, status, logo, and publicity. One of the main purpose of branding is to increases the value of a company, gives employees adequate guidance and motivation, and makes obtaining new customers easier.

Hence, the right answer among the available options is "deliver greater returns with less risk."

Answer:

d. deliver greater returns with less risk

Explanation:

A brand is a product, person, or service that has a unique name or symbol that differentiates it from others in a market. It makes a particular product stand out from others.

Companies use brands to increase competitive advantage by conveying a unique quality or trait with that particular brand.

Strong brands are those that perform well over a long period of time and conveys its uniqueness at all touch points with the customer.

So strong brands ensure delivery of greater returns with less risk.

A company's chart of accounts is: a detailed list of the accounts that make up the five financial statement elements. the set of journal entries that makes up the components of owners' equity. used for entries that offset other accounts.

Answers

Answer:

A detailed list of the accounts that make up the five financial statement elements.

Explanation:

The company's chart of accounts is the listing of all the accounts that the company has included as part of the five financial statement elements during a specific period of time.

The five financial statement elements are: assets, liabilities, equity (part of the balance sheet), expenses and revenues (part of the income statement).

Examples of accounts that can be part of a firm's chart of accounts are: land (asset), cash (asset), notes payable (liabilities), outstanding stock (equity), operating expenses (expenses), and sales revenue (revenues).

The chart of accounts can differ greatly from company to company simply because companies engage in vastly different economic activities.

Another reason fueling the boom in fast-growing technology services is ___________________, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending a. legacy systems

Answers

Answer:

App stores

Explanation:

For the boom in the fast growing technology services, the app stores played an important role for creating an awareness among the audience at a large. Also at the same time it creates a positive impact for an economy, also the transaction cost also falls, there is a less barriers to entry and the rise in the customer trust, loyalty and security

Hence, the correct answer is app stores

Issues management today can be considered a subset of the activities of public affairs departments. strategic planning staffs. public relations departments. various ad hoc committees.

Answers

Answer: public affairs department

Explanation:

The objective of issues management is

to help increase the social responsiveness of an organization to its stakeholders. It should be noted that firms get more options when there's an early anticipation of issues.

Issues management today can be considered a subset of the activities of public affairs departments.

.

All of the following are capital assets EXCEPT: 100 shares of UVX stock. A car used by a ride-hail service driver. A fully rented apartment building. Municipal bonds.

Answers

Answer:

A fully rented apartment building

Explanation:

Capital assets are a term that describes substantial portions of property including homes, cars, stocks, bonds, etc. In other words, specifically in business, a capital asset is defined by its valuable life which is extended than a year and is not planned for sale at a typical period of business's operation.

Hence, in this case, the right answer is A fully rented apartment building

While using LEAN to complete an enrollment application with a consumer, Agent Jeff learns the consumer does not have an email address. What should Jeff do

Answers

Answer:

Either create a new email for the customer or leave it blank

Explanation:

LEAN which is an acronym of Landmark Electronic Application Navigator is an application by UnitedHealthcare, which is utilized for their enrollment application process. It is built to aids all forms of Medicare Products and Plans.

However, according to the rules and guidelines in its application enrollment, if a consumer does not have an email address, then agent is not allowed to use another personal email address instead, but rather, leave it blank, or quickly create a new email to be used for the consumer.

The threat of new competitors will enter your market is _________ when entry is easy and _________ when there are significant barriers to entry.

Answers

Answer:

higher

lower

Explanation:

The easier it is to enter a market the higher the threat of new competitors and the more difficult it is to enter a market, the lower the threat of new competitors.

For example, it is pretty easy to set up a lemonade stand as the cost of doing so is quite low. So, it is easier for anyone to decide to set up a lemonade stand. So, we can say it is easy to enter the lemonade market and the threat of new competitors is high.

On the other hand, a research lab that produces medicine is pretty difficult to enter. the cost of setting up a lab is high, in addition one has to be approved by the government. so, it is difficult to enter this market and the threat of new competitors is low.

"A consumer wanted to purchase a new computer. However, she used the money to pay her rent instead. In this case, housing is what type of competitor?"

Answers

Answer:

Total budget competitor

Explanation:

Based on the information given we were told that the consumer used the money she was supposed to use to purchased a computer to pay her rent instead because the computer price or amount is within the same price range as the rent amount which makes her to pay for her rent instead of the computer because the rent satisfy her needs which means that the housing is a TOTAL BUDGET COMPETITOR. Furthermore with this type of competitor a person or an individual may desire to go for items, goods or product which are within the same price range with another goods or product that meets their needs because it leads to the satisfaction of similar needs such person desire to have or want .

Example if a person or an individual desire to have a laptop in which the Laptop price or amount is within the same price range as a Tablets that person may decide to go for Tablets instead of Laptop in as far as it satisfy the person needs or want because Laptop and Tablets are similar needs.

Therefore the housing is a TOTAL BUDGET COMPETITOR.

"a monopolist's demand curve, marginal revenue, and its costs. At the profit-maximizing output level, the monopolist's profit would be"

Answers

Answer:

when the marginal cost equals the marginal revenue.

Explanation:

Given that a monopolistic market is a market in which there is only one producer or supplier of a particular product or service in a given area, and thus has a great influence on the piece and distribution.

Therefore, in this situation, at the profit-maximizing output level, the monopolist's profit would be when the marginal cost equals the marginal revenue.

What are the two factors that are examined in the administrative management theory when trying to create an organization that is highly efficient and effective?

Answers

Answer:

organizational structure and control systems

Explanation:

The two main factors that are examined are the organizational structure and control systems. Organizational structure focuses on organizing various company activities in such a way that they can achieve their organizational aims as efficiently as possible. Control Systems on the other hand are the various sets of procedures and processes, that allow an organization to achieve its mission and objectives. Both are essential in order for the organization to run as efficiently and effectively as possible.

A firm's strategic choices and leadership approaches need to: a. be rigid and concrete to be effective. b. adapt and change to retain their

Answers

Answer:

This question is incomplete, there are two options that remain missing. The complete options are the following:

A) Be rigid and concrete to be effective.

B) Adapt and change to retain their relevance.

C) Be independent of each other.

D) Steer clear of cultural and socioeconomic influences.

And the correct answer is the option B: Adapt and change to retain their relevance.

Explanation:

To begin with, when it comes to terms of leadership and strategic choices the managers of a company or its members who are the ones responsibles for those matters need to understand that both of those concepts have always to be adaptative and flexible in order to retain the relevance that they have in company and its environment. And that is mainly because the context of the organization is always changing and the leader must be updated with all the new ways to take action and therefore to change the strategic choices that he might choose while taking the decision making process.

Jacobsen Corporation prepares its financial statements applying U.S. GAAP. In its 2018 income statement, Jacobsen would report income from continuing operations of

Answers

Available Options Are:

Jacobson Corporation prepares its financial statement applying US GAAP. During its 2018 fiscal year, the company reported income from continuing operations before tax of $620,000. This amount does not include the following item, which is considered to be material in amount:

Unusual gain of $200,000

Loss on discontinued operations ($300,000)

The company's income tax rate is 40%. In its 2018 income statement.

Jacobson would report income from continuing operations (after tax) of:

A. $312,000.

B. $372,000.

C. $492,000.

D. $620,000.

Answer:

Option C. $492,000

Explanation:

The Total Operating Income is:

Operating Income From Continuing Operation     $620,000

Unusual Gain                                                           $200,000

Total Income                                                             $820,000

The unusual gain will be included in the operating income as it is related to operating income.

The net income from continuing operation will be net of tax which means that:

Net Income after tax = $820,000 * (1 - 40%) = $492,000

If the quantity demanded at a price of $10 is 2,000 and the quantity demanded at a price of $8 is 2,400, a price-discriminating monopolist would want to:

Answers

Answer:

D. sell 2.000 units for $10 each and then sell an additional 400 units for $8 each

Explanation:

Since in the question it is mentioned that

Quantity demanded is 2,000 at a price of $10

And, the other case is

Quantity demanded is 2,400 at a price of $8

So here we can conclude that

The quantity demanded of 2,000 would be at a price of $10

And, the additional units i.e. 400 (2,400 - 2,000) would be at a price of $8

Therefore the correct option is d.

Match the action to the task it helps accomplish. format text is at the very top or bottom of the page increase or decrease the space around the text on a page move the text at the bottom of a page to the top of the next page

Answers

Answer:

format text increase or decrease the space around the text on a page

Explanation:

Indeed, when using Word processing software like Microsoft word, it is possible to use the format text tool called line spacing to increase or decrease the space around the text on a page.

For example, in other to make a written text easily readable, a user may use the format text tool to increase or decrease the space around the text on a page.

Hope this helps! :).                       .

For a retail business, a delivery of inventory, from a vendor (with whom there is an established credit relationship) would be initially recorded in which type of accounting record as part of which transaction cycle

Answers

Answer:

purchases journal; expenditure cycle

Explanation:

For most retail businesses the first place transactions are recorded is the purchase or sales journal. This contains a simple lost of items purchased or sold. The information is later transfered to the general ledger.

On this scenario there was a delivery of inventory, from a vendor with whom there is an established credit relationship.

Once purchase is made on credit it is an expenditure transaction and will be recorded as such

Outright sales or sale and leaseback free up considerable cash and improve returns. This is an example of which turnaround strategy used by successful companies?

Answers

Answer:

"Asset and cost surgery " is the right answer.

Explanation:

Asset but mostly cost surgery indicates another company can opt to sell much of its order to maximize shareholders as well as consider outsourcing those non-competitive business international operations.Asset Management Policy would be an organization-wide policy for implementing as well as recording asset management activities, policies, processes as well as techniques.

"Your supervisor repeatedly informs you that "Goals without objectives are essentially meaningless." What is the rationale for such a philosophy?"

Answers

Answer:

progress is impossible to track without measurable performance targets.

Explanation:

The rationale for this philosophy is that progress is impossible to track without measurable performance targets. Meaning that without actively keeping track of the progress you make throughout your journey it will continue seeming as though you are not advancing at all towards your end goal. That is why you need objectives or smaller milestones that act as accomplishments and let you know that you are making progress towards achieving the goal that you have been working towards.

Refer to exhibit 4-8. suppose that wheat producers lobby the government for a price floor and receive one. this price floor is set at pf. what is the change in the total surplus at the price floor, compared to at the equilibrium price?

Answers

The answer is definitely 49

A team member can become distracted by a work or personal problem that prevents him or her from following through on commitments made to the team. This team member is best described as a(n): absentee member. social loafer. procrastinator. arbitrator.

Answers

Answer:

absentee member.

Explanation:

A team member can become distracted by a work or personal problem that prevents him or her from following through on commitments made to the team. This team member is best described as an absentee member because it is safe to say that he didn't contribute anything to the team, as opposed to his or her promises or requirement to be supportive.

A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured using ________ organization.

Answers

Answer:

E.) Projectized

Explanation:

These are the options

A. Functional

B. Balanced matrix

C. Weak matrix

D. Strong matrix

E. Projectized

A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured using projectized organization.

A projectized organization reffered to as a settings, where activities are arranged in form of projects or even programs and these activities are been executed, these projects are carried out by team with a project manager as their authority in which all the member of the team gives report to.

How has private enterprise strengthened the united states economy?

Answers

Answer:

to generate prosperity and produce goods and services that meet people's needs and improve their lives.

Explanation:

Because businesses cannot outgrow the economy of their communities

When Mexico and the United States agreed to reduce and eliminate trade barriers, the countries demonstrated which of the following terms?
Economic integration
O Political stability
O Exchange rate
O Direct investment

Answers

Economic interrogation

Studies indicate that married men on average earn more income than unmarried men of the same age and education level. Why must we be cautious in concluding that marriage is the cause and higher income is the effect? We do not want to fall into the causation fallacy because the sole cause of greater income is not directly caused by marriage. There could be many other factors involved.

Answers

Answer:

all of the answers provided are correct

Explanation:

The causation fallacy refers to when a cause is incorrectly identified for a specific effect in a research study. That being said, all of the answers provided are correct. There is no clear indication or proof in this study that shows that "marriage" is the sole factor that causes the difference in pay between the men in question. There can be many other factors in play such as social connections, economic backgrounds, geographic locations, field of work, etc.

During Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its stockholders. Based on this information alone, which of the following statements is not true?

a. Net income amounted to $350.
b. Total assets increased by $200.
c. Cash inflow from operating activities was $350.
d. Cash inflow from operating activities was $200.

Answers

Answer:d--Cash inflow from operating activities was $200

Explanation:

Net income=  Cash Revenue -Cash Expenses

$1950 - $,1600 = $350

Total assets increase= Cash Revenue -Cash Expenses -Dividends

1950-1600 -150= $200

Cash inflow from operating activities=Cash Revenue -Cash Expenses  

$1950 - $,1600 = $350

therefore the statement that is not true = d--Cash inflow from operating activities was $200

"a perfectly competitive market. The firm will stay in the market in the long run only if the market price is greater than or equal to"

Answers

Answer:

$10 for 200 units which means $0.05 per unit.

Explanation:

The firm will only survive in a perfectly competitive market if its average cost is at minimum level which we can see in the figure. The lowest average cost is $10 for 200 units which means average cost per unit is $0.05 per unit. At this stage the company will be able to produce higher profits because its average cost per unit is at minimum level.

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