Refer to the Following Selected Financial Information from Fennie's, LLC

question 91

Multiple Choice

Refer to the following selected financial information from Fennie's, LLC. Compute the company's days' sales uncollected for Year 2.

• A) 43.9.
• B) 42.3.
• C) 46.2.
• D) 80.0.
• E) 113.3.

Recognize the principles behind the liability of parents for their children's contracts and distinguish between contracts for necessaries and non-necessaries.

Identify when a contract can be ratified and the effects of ratification or disaffirmance on the legality of contracts entered into by minors.

Understand the conditions under which a person may be considered to have legal incapacity to enter into contracts and the consequences thereof.

Grasp the legal distinctions and consequences of entering into contracts that contain illegal subject matter or perform illegal actions.

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Definitions:

Strategic Direction

Guidance for an organization on its long-term goals and the strategies to achieve them, often set by top management.

Job Performance

The level of effectiveness and efficiency with which an employee accomplishes their work tasks and responsibilities.

Competitive Nature

Refers to the inherent drive or inclination among individuals or entities to strive for superiority or success against others in the same arena.

Corporate Strategy

Corporate Strategy involves the overarching plan and direction of a corporation, focusing on achieving long-term goals and securing a competitive position in the market.