Ashley owns a piece of vacant real estate through which a small river runs. Ashley hires Warren, a licensed real estate broker, to list the property for sale and help sell the property
While inquiring in the neighborhood, Ashley's neighbor Lenny tells Warren that a chemical plant upstream has polluted his property and that Warren should have environmental engineers test Ashley's property as well. Warren does not tell Ashley about Lenny's suggestion. Warren manages to find a buyer for Ashley's property in Martha. It is later discovered that the property Martha bought from Ashley is polluted. What important agent's duty has Warren failed to perform?
A) duty to indemnify
B) duty to account
C) duty to reimburse
D) duty to notify
D
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Lakeside, Inc estimated manufacturing overhead costs for the year at $371,000, based on 181,000 estimated direct labor hours
Actual direct labor hours for the year totaled 196,000. The manufacturing overhead account contains debit entries totaling $392,000. The Manufacturing Overhead for the year was ________. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $49,393 underallocated B) $49,393 overallocated C) $9,800 underallocated D) $9,800 overallocated
McIntyre, Inc has prepared its third quarter budget and provided the following data
Jul Aug Sep Cash collections $50,000 $39,900 $46,000 Cash payments: Purchases of direct materials 31,000 22,000 17,500 Operating expenses 12,200 8,700 11,300 Capital expenditures 13,600 24,300 0 The cash balance on June 30 is projected to be $4,500. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of August taking into consideration all the financing transactions. A) $7,558 B) $(7,442 ) C) $47,600 D) $15,000