Tu-Thumbs Buys a Used Paint Sprayer from the Local Paint

question 37

Multiple Choice

Tu-thumbs buys a used paint sprayer from the local paint store.The sprayer had a large sign on it that said "AS IS." The dealer made no promises or statements concerning the performance of the paint sprayer.When Tu-thumbs attempts to spray paint his house,the trigger on the sprayer sticks in the "on" position and before Tu-thumbs can pull the electrical cord to cut the power,paint is sprayed all over his prize Borzoi dog that is scheduled to be shown in a dog show the next day.Tu-thumbs sues the dealership.Who wins?

• A)Dealer wins;there were no express warranties,and all implied warranties have been successfully disclaimed.
• B)Tu-thumbs wins;he can recover on the basis of express warranties.
• C)Tu-thumbs wins;he can recover on the basis of the implied warranty of merchantability because the word "merchantability" was not used in the disclaimer.
• D)Dealer wins;even though there were implied warranties,the damage to the dog could not have been foreseen.

Compute the consideration transferred in a business acquisition.

Calculate consolidated financial statement accounts including receivables, inventory, buildings (net), and liabilities after a business combination.

Recognize the alternatives to the acquisition method and their applicability.

Understand statutory consolidation and its implications.

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Definitions:

Maneuverability

Describes the ability of an object or entity to change direction or course effectively and efficiently, often used in contexts involving vehicles or strategic planning.

Confidence

The feeling or belief in one's abilities, qualities, and judgment.

Organizational Reward System

A structure within an organization designed to motivate employees by recognizing and rewarding their performance and achievements.

Political Performance Appraisals

Evaluations of an employee's work performance that are significantly influenced by office politics or the individual's position within the organizational power structure.