Jack went to the ABC Casino to gamble. ABC offers its customers one free spin of the Million Dollar Wheel if they fill out an application form. Jack filled out the form, spun the Million Dollar Wheel, and won. However, now ABC refuses to pay, claiming that because Jack did not purchase his chance at the Million Dollar Wheel, Jack gave no consideration and therefore, no contract was formed. Identify the accurate statment

Answers

Answer 1

As regards Jack's claim, the truth is that C. A contract was formed because filling out an application can constitute legal consideration.

Why is Jack's claim legitimate?

Jack may not have purchased his chance at the Million Dollar Wheel, but he was allocated a free spin if he filled a form which he did.

That application form constitutes a legal consideration because it was signed with the promise that he could get a free spin.

Options for this question include:

A. No contract was formed because Jack paid no money for his chance at the Million Dollar Wheel.

B. No contract was formed because ABC did not sign any written contract as an obligation to do so.

C. A contract was formed because filling out an application can constitute legal consideration.

D. A contract was formed because no consideration is needed when a customer takes advantage of a "free" offer.

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Related Questions

which stage in a work-unit activity analysis focuses on the product, information, or service provided?

Answers

The stage in a work-unit activity analysis that focuses on the product, information, or service provided is the output phase, This is further explained below.

What is the output phase?

Generally, the output phase is simply defined as manufacturing or output in general.

In conclusion, The final deliverable is defined. The method of measuring the output is investigated.

Answers

Inventory and property, plant, and equipment are shown as an expense on the income statement and on the balance sheet, respectively.

What is a balance sheet?

A balance sheet is a financial statement that lists an organization's assets, liabilities, and shareholder equity. One of the three important financial statements a company's evaluation will focus on is the balance sheet.

The income statement and balance sheet both directly and indirectly refer to the expenses. You can better understand how an expense is reflected overall by often reading a company's income statement and balance sheet.

As a result, option (b) is correct.

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Each of these events occurred as a result of falling real estate prices in 2006 and 2007 EXCEPT that: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices the Federal Funds rate began to rise. the growth rate of the money supply fell. aggregate demand fell. new home construction dropped very quickly.

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The exception to the result of falling real estate prices in 2006 and 2007 includes the Federal Funds rate began to rise.

What is the federal funds rate?

This refers to the interest rate which the banks charges other while borrowing or lending their excess reserves.

Now, this Federal Funds rate is independently determined by the Federal reserve not by events in the broader economy such as the falling real estate prices.

Therefore, the Option A is correct.

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Phifa permits Ruthe to take action where Chuck can be held accountable in a private lawsuit for up to $3,000 in damages and appropriate legal costs.

What is a lawsuit?

A lawsuit is an action brought by one or more parties in a civil court of law against another party. In most cases, the procedures involved in a civil lawsuit are known as litigation.

For damages occurred as a result of a PHIFA-prohibited practice, a homeowner may file a civil lawsuit against a foreclosure consultant.

The court can impose fines up to three times the amount of real damages if it determines that the accused violated PHIFA intentionally. The homeowner may also demand fair legal fees.

Therefore, Ruthe can demand $3,000 as damages in the private lawsuit.

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Assume that an adjusting entry was made on november 30 for earned, but unpaid employee salaries of $260 which represented 2 days of salaries earned for november 29-30. on december 5, the employees are paid for five days. record the journal entry on december 5 assuming that reversing entries are used by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.

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The journal entry to be recorded for the transaction that took place on December 5 will affect a debit in Salaries and Wages Expense for $650; and a credit in the Cash balance equally.

What is a journal entry?

A systematic method of recording the monetary and financial transactions in a chronological way of their occurrence, is known as a journal entry. Each journal entry has a debit and credit effect of equal amount.

The journal entry for the transaction has been added in the image for better reference.

Hence, the significance of journal entry is aforementioned.

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Jessica always thought the grace-period feature of her credit card was a wonderful idea because her charges were interest-free during the grace period. After taking Dr. Art Keown's personal finance course, she learned this startling truth about grace periods. Question 16 options: Grace periods are actually beneficial to the credit card company. There are higher fees associated with grace periods. Most banks eliminate their grace period on new purchases if you don't pay your balance in full. All credit cards carry a grace period.

Answers

The truth that Jessica is going to have to learn about Grace period is the fact that Most banks eliminate their grace period on new purchases if you don't pay your balance in full.

What is a credit card grace period?

The grace period in the card is that time that exists between the end of the billing cycle and when the payment is due to be made by the customer.

If the customer pays in full before the date they may not be asked to pay any form of interest.

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A process failure that results in the process's inability to meet advertised performance standards violates which of the five definitions of quality?

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A process failure that results in the process's inability to meet advertised performance standards violates conformance to specifications of the five definitions of quality.

What are the definitions of quality?

The definitions of quality can be explained as the standard of something when it is been measured against other things.

five definitions of quality are:

Fit for Purpose.Conformance to Requirements. Proportional to Cost. Quality is Price. Quality is a Standard.

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Which sentence best completes the diagram?

Answers

Original Question: A central bank raises interest rates on reserves

Answer: Investors are less likely to purchase bonds:

Reason: When the economy is good, the level of borrowing money becomes extraordinarily high since there is confidence in the market.

As in, people believe that they can return the money back to the bank since there is a high chance of making the money back up again at a profit.

However, as more and more people do that, the economy heads into state of inflation.

To ensure that the inflation rate doesn't go up sky-high, central banks raise the interest rate on loans which discourages investors to get loans or bonds due to how much they need to pay back later on.

Hope that helps!

When a country allows international trade and becomes an exporter of a good, Question 11 options: domestic producers of the good become better off. domestic consumers of the good become worse off. the gains of the winners exceed the losses of the losers. All of the above are correct.

Answers

The likely outcome when a country allows international trade and becomes an exporter of a good is that the Domestic producers of the good are better off.

Who are the Domestic producers?

These are the manufacturing firms in the exporting countries.

Hence, when the country allows international trade and becomes an exporter of a good, the Domestic producers of the good are better off because they produces more for exportation purpose.

Therefore, the Option A is correct.

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We can actually infer here that an increase in labor productivity will affect equilibrium in the labor market in the following way: The demand for labor will increase and the equilibrium wage and quantity of labour will increase.

What is equilibrium?

Equilibrium refers to the state whereby opposing things are balanced in order to achieve a desired outcome.

If the labor productivity is increased, it will definitely affect equilibrium in the labor market in such a way that the demand of labor will increase.

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Both karen and bob are out of work. karen applies to a few jobs each week, but does not particularly care to be employed. bob was avidly searching for a job, but a little over a month ago he gave up searching. who would be counted as unemployed by the current population survey (cps)

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According to the current population survey, Bob situation will be counted in the unemployment survey.

What is Unemployment?

Unemployment refers to the situation in which the person is willing to work but he or she is unable to find the appropriate job.

In the given scenario, Karen is unwilling to work as he does care about getting a job. However, Bob is willing to work and all very stressed about not getting the job.

All members of a household who are of working age are asked about their demographics and job status as part of the Current Population Survey (CPS).

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when making deferral adjustments to record the amount used during the period for items such as prepaid insurance or supplies, the debit will a(n) ___________ account. (enter one word per blank.)

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When making deferral adjustments to record the amount used during the period for items such as prepaid insurance or supplies, the debit will be an Expense account.

What are deferral adjustments?

Deferral adjustments are accounting entries that shift some portions of a deferred account into the current period.

These deferral journal entries include:

Revenue entries (recognizing current or earned revenues)Expenses entries (recognizing current or incurred expenses against prepayments).

Thus, when making deferral adjustments to record the amount used during the period for items such as prepaid insurance or supplies, the debit will be an Expense account.

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true or false Marketing is a management orientation centered on customer satisfaction and an organizational function that is integrally related to the entire organization's mission, objectives, and resource

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The answer to "true or false management orientation....." is True

discretionary fiscal policy is a fiscal policy action, such as Group of answer choices an increase in payments to the unemployed, initiated by the state of the economy. a decrease in tax receipts, initiated by the state of the economy. an increase in the quantity of money. a tax cut, initiated by an act of Congress. an interest rate cut, initiated by an act of Congress.

Answers

Discretionary fiscal policy is a fiscal policy action, such as a tax cut, initiated by an act of Congress.

What is discretionary fiscal policy?

Discretionary fiscal policy is a policy in which government uses taxation and spending to influence aggregate demand.

They are deliberate government policies to increase or decrease government spending or taxation inorder to control the economy optimally.

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Which company was formerly known as the computing-tabulating-recording company? ibm.

Answers

The company formerly known as the computing-tabulating-recording company was IBM.

Who founded IBM?

CTR company was replaced by IBM in the year 1889 and was founded by Herman Hollerith at the end of the 1800s.

IBM was incorporated as a computing-tabulating-recording company in the year 1911.

It was a merger of three minor entities namely, a computing company, tabulating company, and a recording company that was engaged in the manufacturing of punch-card tabulators and various other products.

Therefore, IBM was formerly known as a computing-tabulating-recording company (CTR).

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Preparation of Adjusting Entries Bartow Photographic Services takes wedding and graduation photographs. At December 31, the end of Bartow's accounting period, the following information is available: All wedding photographs are paid for in advance, and all cash collected for them is credited to Unearned Service Revenue. Except for a year end adjusting entry, no other entries are made for service revenue from wedding photographs. During the year, Bartow received $42,600 for wedding photographs. At year end, $37,480 of services had been performed. The beginning-of-the-year balance of Unearned Service Revenue was zero. During December, Bartow photographed 228 members of the next year's graduating class of Shaw High School. The school has asked Bartow to print one copy of a photograph of each student for the school files. Bartow delivers these photographs on December 28 and will bill the school $5.00 per student in January of next year. Revenue from photographs ordered by students will be recorded as the orders are received during the early months of next year. Equipment used for developing and printing was rented for $22,500. The rental term was for 1 year beginning on August 1 and the entire year of rent was paid on August 1. The payment was debited to Prepaid Rent. Depreciation on the firm's building for the current year is $9,390. Wages of $4,170 are owed but unpaid and unrecorded at December 31. Supplies at the beginning of the year were $2,400. During the year, supplies costing $19,600 were purchased from Kodak. When the purchases were made, their cost was debited to Supplies. At year end, a physical inventory indicated that supplies costing $4,100 were on hand.
Conceptual Connection: By how much would net income be overstated or understated if the accountant failed to make the adjusting entries?

Answers

Answer:

The enetres below suggests that the reader aka you doesnt know how to do work

Explanation:

study

Who is the president's chief adviser on intelligence matters across the executive branch?

Answers

The Director of National Intelligence is known as the President's chief adviser on intelligence matters across the executive branch.

What is the role of Director of National Intelligence?

The director's role is to serves as the head of the Intelligence Community, directing the implementation of the National Intelligence Program budget and serving as the principal advisor to the President.

Hence, the Director of National Intelligence is known as the President's chief adviser on intelligence matters across the executive branch.

Answers

The society can achieve efficiency in its production of output by employing more labour.

What is the production possibility curve?

The Production possibilities frontiers is a curve that shows the various combination of two goods a society can produce when all its resources are fully utilised. Production inside the production possibilities curve means that the nations resources are not being fully utilised.

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how does tax help to stabilise the prices of products

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Answer:

An increase in income taxes reduces disposable personal income and thus reduces consumption (but by less than the change in disposable personal income).

Hope it helps!

A situation in which each firm chooses the best strategy given the strategies chosen by other firms is called a.

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Answer:

A Nash equilibrium results when every firm in an industry chooses a strategy that is optimal given the strategies chosen by its competitors.

Determining which actions are right vs. Wrong represents which element of james rest’s ethical decision-making model?.

Answers

Moral judgment is typically intuitive rather than in-deathly reflective in the ethical decision-making model.

What is decision making?

Identifying decisions and gathering information to make choices is referred to as "decision making" in this context.

The moral judgements give insight on a person's organization, society, and personality. The principles of decision-making can be influenced by a person's ethical ideals and actions.

As a result, the ethical decision-making model is moral judgment.

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Which of the following affects employers' decisions on how much to pay their workers?
A.Maximizing costs
B.Maximizing profits
C.Minimizing profits
D.Minimizing benefits

Answers

B.maximizing profits. Hope this helps

Maximizing profits is the factor that affects employers' decisions on how much to pay their workers.

What is profit maximization?

Profit maximisation is a process that businesses go through to make sure the best levels of output and prices are realised in order to maximise their returns. The company modifies important variables like sale price, production costs, and output levels in order to achieve its profit objectives.

Profit maximisation is a strategy that can promote effective and long-term business expansion. Using a profit maximisation approach can ensure that increased work results in higher net revenue if you're ready to develop your business.

What are other factors that affects workers pay?

Internal and External Determinants of Pay: Factors Affecting Employee Pay

Employment SituationFinancial SituationGovernment Control of Living Expenses Prevailing Wage Level Union InfluenceGlobalizationSector-Across Mobility

Supporting answer

Hence option B is correct answer

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1. Use a real-life example to describe the following allocation methods. Hint: Use family, friends, teams, church, and/or clubs for examples.

Brute Force

Market

Queuing

Random Selection

Tradition

Equal Shares

Need

Planned

Answers

A real-life example of the concepts are:

Brute force: The use of different numbers, trying to win the lottery.

Market: The buying and selling of ice cream at backyard sales.

Queuing: Standing in line to pay for goods at a mall

What is Queuing?

This refers to the standing in line by a group of people in order to access a particular service.

Hence, we can see that the other answers are:

Random selection: Picking one person out of four persons, through the throw of a die.

Tradition: Going to camp every year between father and son.

Equal Shares: The allocation of the same amount of food in a family

Need: The purchase of food in order to continue living.

Planned: A vacation to a foreign place that has been in the making for a long time.

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Jennifer is giving a presentation about the results of her microbiology experiment. She is very confident in front of the audience. She speaks in a clear voice, and often tells a few jokes to show her personality. Jennifer is displaying great
.

Alex is another microbiologist listening to Jennifer’s presentation. He wants to remember her results so that he can use the information to help with his own experiment. He pays close attention to what Jennifer says, writes down key points, and draws a diagram to help him remember the main ideas. His
will help him remember this information later when he is in his office.

Answers

#1. The answer to this one is that Self-Representation skills correspond with how you dress and personal hygiene, so this cannot be the right choice. It also is not C because Jennifer is the one speaking; she is not listening.

#2. The answer to this one is C because he is taking notes to help better remember Jennifer's presentation.

real estate competes for ______ in the capital market.

Answers

Real estate competes for fund in the capital market.

What is capital market?

This is a market where long term securities such as shares and stocks are bought and sold.

In a capital market, people can trade in or sell long-term debt or equity-backed securities.

Common capital market securities are:

StocksBondsReal estate investment trusts (REITs).

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What is the tool by which financial markets allocate funds across alternative uses?

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Interest rates is the tool by which financial markets allocate funds across alternative uses.

What are financial market instruments?

Financial markets are formed by buying and selling of a lot of types of financial instruments such as equities, bonds, currencies, and others.

Note that Interest rates is the tool by which financial markets allocate funds across alternative uses.

See options below

Automatic teller machines.

Interest rates.

.C.

Commodity prices.

Bank fees.

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Nelson is motivated by a strong need for recognition and is continually seeking credit for his contributions to the organization. According to maslow, nelson is motivated by which category of needs?

Answers

The Self-Esteem category of need is the need that motivates Nelson as he is continually seeking credit for his contributions to the organization

What is the Self-Esteem category?

According to the Maslow hierarchy, this category of needs is one that involve building of high confidence in one's own worth and abilities.

Hence, the Self-Esteem category of need is the need that motivates Nelson as he is continually seeking credit for his contributions to the organization.

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If the buyer approved the payment. This is an example of An Illegal Kickback.

What is Illegal Kickback?

Illegal Kickback can be defined as the way in which a person or a company received a bribe or receive payment that is illegal.

The given scenario is an example of Illegal Kickback as Jenna's firm issues out a check to First In Line Company because the company referred a buyer to Jenna.

Therefore If the buyer approved the payment. This is an example of An Illegal Kickback.

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Mrs. roberts has original medicare and would like to enroll in a private fee-for-service (pffs) plan. all types of pffs plans are available in her area. which options could mrs. roberts consider before selecting a pffs plan?

Answers

Mrs. Roberts consider before selecting a PFFS plan is a Medicare Advantage Prescription Drug (MA-PD) PFFS plan that combines medical benefits and Part D prescription drug coverage. Thus, option (a) is correct.

A Medicare Advantage Prescription Drug (MA-PD) PFFS plan that compounds benefits and Part D direction drug coverage, a PFFS plan that only supplies M benefits, or a PFFS plan in conjunction with a stand-alone direction drug.

A form of Medicare-approved health plan offered by a private firm that you can use instead of Original Medicare to cover the majority of your Part A and Part B services. It frequently includes medication coverage (Part D).

As a result, the significance of the could Mrs. Roberts consider before selecting a PFFs plan are the aforementioned. Thus, option (a) is correct.

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Your question is incomplete, but most probably the full question was.

Mrs. Roberts has original Medicare and would like to enrol in a private fee-for-service (PFFS) plan. all types of PFFS plans are available in her area. which options could Mrs. Roberts consider before selecting a PFFS plan?

a. A Medicare Advantage Prescription Drug (MA-PD) PFFS plan that combin benefits and Part D prescription drug coverage, a PFFS plan offering only m benefits, or a PFFS plan in combination with a stand-alone prescription drug.

b. A stand-alone prescription drug plan in combination with a PFFS plan or a Medigap Supplemental Insurance plan.

c. A PFFS plan offering only medical benefits or a PFFS Medigap Suppleme Insurance plan.

d. A Medicare Advantage Prescription Drug (MA-PD) PFFS plan that combin benefits and Part D prescription drug coverage, a PFFS plan offering only m benefits, or PFFS Medigap Supplemental Insurance plan.

To make sure it has enough employees on hand during the busy holiday season, Target plans to hire thousands of temporary, seasonal help for the final three months of the calendar year. This is an example of a(n) _____ plan.

Answers

An example of operational plan is illustrated when the firm plans to hire thousands of temporary and seasonal help for the final three months of the calendar year.

What is an operational plan?

These are plans that outlines the key activities an organisation will undertake during a period of time usually one year.

Most times, this plans are utilized to work towards achieving the aims and objectives set out in the strategic plan.