fay is mentally incompetent but has not been so adjudged by a court. any contract fay enters into is voidable if fay has a lucid interval at the time of contracting. voidable if fay lacks the capacity to comprehend the consequences. voidable if the other party does not realize that fay is incompetent. unavoidable.

Which of the following is a problem for the production of public goods?

The new york stock exchange is an example of what type of stock market?

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?