Which of the Following Is the Most Likely Result If

question 47

Multiple Choice

Which of the following is the most likely result if Harry sues Paul for the price of the jacket?

• A) Paul will win because he did nothing to cause Harry to believe that he would pay for the jacket.
• B) Harry will win because Jane indicated that she had apparent authority to buy the jacket for Paul.
• C) Harry will win only if he can show that through reasonable investigative efforts on his part Jane cannot be located.
• D) Harry will win only if he can show that Jane has no assets with which to pay for the necklace.
• E) Harry will win on an implied agency theory.

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Definitions:

Trade Credit Discounts

Reductions in the price of goods or services offered by suppliers to their customers as an incentive for early payment.

Performing Poorly

A term used to describe assets, investments, or businesses that are not achieving expected levels of profit or performance.

Cash Budgets

Financial plans that estimate future cash receipts and expenditures over a specific period.

Planning Purposes

The process of preparing for future operations or activities by setting objectives, developing strategies, and outlining tasks and schedules to accomplish the goals.