Mavis Company's statement of cash flows showed net cash provided by operating activities of $47,000 in 2016. Mavis reported an increase in accounts payable of $6,000, an increase in inventory of $2,000, depreciation expense of $3,000, and dividends paid of $8,000. Mavis's net income for 2016 was

In a game of chance, the probability of winning a $50 prize is 40 percent, and the probability of winning a $100 prize is 60 percent. What is the expected value of a prize in the game?

A) $50 B) $75 C) $80 D) $100

Tom has agreed to the terms of a contract that obligates him to paint Dorothy's house within thirty days. Before he began painting, Dorothy's house was destroyed by a tornado

Which of the following statements is true about Tom's contract obligations? A) The contract remains valid, and Tom must paint Dorothy's next residence. B) The contract remains valid, but Tom must wait a reasonable time to allow Dorothy to rescind. C) The contract is voidable as its object is illegal. D) The contract is discharged by impossibility of performance.