The Following Selected Data Pertain to the Inborne Corporation July's Cash Disbursements Are Expected to Be:
A)$404,000

question 49

Multiple Choice

The following selected data pertain to the Inborne Corporation: $\begin{array} { | l | r | } \hline \text { Cash operating expenses, July 1-31 } & \$ 180,000 \\\hline \text { Depreciation } & 60,000 \\\hline \text { Merchandise purchases in July } & 560,000 \\\hline \text { listimated payments in July for purchases in June } & 220,000 \\\hline \text { Estimated payments in July for purchases prior to June } & 50,000 \\\hline \text { Estimated payments in July for purchases in July } & 40 \% \\\hline\end{array}$ July's cash disbursements are expected to be:

• A)$404,000.
• B)$464,000.
• C)$674,000.
• D)$734,000
• E)$786,000.

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Definitions:

Genuineness Of Assent

Knowing and voluntary assent to the terms of a contract. If a contract is formed as a result of mistake, misrepresentation, undue influence, or duress, genuineness of assent is lacking, and the contract will be voidable.

Fraudulent Misrepresentation

Any misrepresentation, either by misstatement or omission of a material fact, knowingly made with the intention of deceiving another and on which a reasonable person would and does rely to his or her detriment.

Undue Influence

Undue Influence is a legal term referring to a situation in which an individual is able to persuade another’s decisions due to the relationship between the two parties.

Mistake Of Value

A misunderstanding about the importance or worth of something, often considered in legal contexts regarding contracts.