The financial statements of the Bolton Manufacturing Company reports net sales of $500,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the receivables turnover ratio for Bolton?

Pattern, Inc enters into a contract to deliver 10,000 units of raw materials to Phoebus, Inc Pattern delivers the raw materials two days after the delivery date. Pattern offers to pay damages based on a clause in the contract

What type of damages is Pattern paying? A) liquidated B) compensatory C) punitive D) nominal

Timmy and June owned a house in a joint tenancy. Timmy died and in in his will, left his share of the property to his estranged wife Mavis. Mavis is insisting on moving into the property but June has objected to this

Which of the following statements most accurately describes the legal position? A) Mavis is now a joint tenant of the property with June. B) Mavis will not have an interest in the property until June dies. C) Mavis cannot be legally excluded from the property as she is now a part owner of it. D) Mavis has no ownership interest in the property. E) Both A and C