The expected cash balance at the end of February is $113,300.
Bragmore ought to lend his extra set of goggles to his main competitor Aprince and engage in fair play.
Explanation:
Success is significant in competition; however, what matters more is fairness and competing vigorously with rivals, giving everyone equal opportunities to showcase their strengths and abilities. Although withholding goggles from his main competitor might enhance Bragmore's chances of easily winning and securing the cash prize, that wouldn't constitute a fair competition. Therefore, he should compete by providing equal chances for his competitor and lend them his spare goggles.
Answer:
True - Contracts that require more than one year to complete must be documented in writing
Explanation:
The relevant detail from the scenario for the question is that ''In 2006, Mann and Harris were requested by HIS to undertake another conversion of an apartment building referred to as Park West. For this task, Mann and Harris were once again orally promised a bonus (in addition to their salary) using a similar formula to that of the Windsor Park conversion. It was anticipated that this venture would also take two or three years to conclude.''
According to the statute of frauds, contracts anticipated to last over a year need to be written to have legal standing.
When Mann and Harris were asked to manage the construction of an apartment that would last two to three years, they should have insisted on a written agreement.
HIS took undue advantage of their knowledge of the law and denied them the promised bonus; pursuant to the statute of frauds, they are not legally liable.
Response:
The cash collection totals $122,000
and the amount receivable as of August 31 stands at $97,000
Clarification:
For August, the anticipated cash collection is $122,000, while the receivables amount on August 31 is $97,000.
A cash collection schedule is included in the attached MS Excel file with this response.
Prepaid cards and gift cards are tools that help you save money as they allow others to pay for your expenses in advance. Essentially, both types serve a similar function, being preloaded with funds by another party (or yourself) and handed to you, ensuring expenses are taken care of without utilizing your own resources.
