Athirsty huck finds his grandfather's moonshine in the barn and not realizing it was pure alcohol guzzles it down. his head is spinning so fast he can barely walk. but huck finds his way to the dock and makes an offer to buy a 20 foot sail boat for $25,000. the owner of the boat accepts the offer and the two sign a written contract. huck wakes up the next morning hung over and floating on his new sail boat in the middle of the ocean. he has no idea how he got the keys to the boat. in trying to repudiate the contract huck will argue he lacked at the time he entered into the contract.

If you offer up your car as a demonstration that you will pay off your loan to a bank or another financial lending institution, you are using your car as collateral. true false

Xie company identified the following activities, costs, and activity drivers for 2017. the company manufactures two types of go-karts: deluxe and basic. activity expected costs expected activity handling materials $ 625,000 100,000 parts inspecting product 900,000 1,500 batches processing purchase orders 105,000 700 orders paying suppliers 175,000 500 invoices insuring the factory 300,000 40,000 square feet designing packaging 75,000 2 models required: 1. compute a single plantwide overhead rate, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. in january 2017, the deluxe model required 2,500 direct labor hours and the basic model required 6,000 direct labor hours. assign overhead costs to each model using the single plantwide overhead rate.

Afirm’s production function is represented by q(m,r) = 4m 3/4r1/3, where q denotes output, m raw materials, and r robots. the firm is currently using 6 units of raw materials and 12 robots. according to the mrts, in order to maintain its output level the firm would need to give up 2 robots if it adds 9 units of raw materials. (a) true (b) false