True or False:

1. A warranty of title may not be disclaimed by general language.                        
2. The UCC authorizes the recovery of both incidental and consequential damages in case of breach of warranty.
3. A buyer can return a used car to his seller one week after purchase on the basis of a dented fender.                                                                                                          

4. If a buyer pays for lost profits, seller’s recovery is reduced by an allocable portion of seller’s overhead.                                                                                                   

5. Under the provisions of the UCC, a buyer can elect to reject only non-conforming goods.                              

6. After delivery of the goods, but before acceptance, the buyer generally has the right to nspect the goods delivered.

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An automobile of mass 1500kg moving at 25m/s collides with a truck of mass 4500kg at rest. This time, the car and the truck bounce off each other completely elastically. What is the final velocity of the truck after the collision? Call the direction of the automobile before the collision positive.

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An automobile of mass 1500kg moving at 25m/s collides with a truck of mass 4500kg at rest. This time, the car and the truck bounce off each other completely elastically. What is the final velocity of the car after the collision? Call the initial direction of the automobile positive.

1. You are a shareholder in a C-corporation. The company earns $4.50 per share before taxes. Assume the corporate tax rate is 40%. After paying taxes it will apply its Payout Ratio of 90% and pay dividends accordingly. Assumed the personal income (dividend and non-dividend income) tax rate is 25%.
   1. What is the (per share) corporate tax payment?
   2. What is the dividend?
   3. What is the (per share) personal tax payment?
   4. What is the (per share) after tax income?
   5. Repeat steps a-d assuming the firm is an S-corporation.

Write a method that will have a C++ string passed to it. The string will be an email address and the method will return a bool to indicate that the email address is valid.

Email Validation Rules: ( These rules are not official.)

1) No whitespace allowed

2) 1 and only 1 @ symbol

3) 1 and only 1 period allowed after the @ symbol. Periods can exist before the @ sign.

4) 3 and only 3 characters after the period is required.

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Program will prompt for an email address and report if it is valid or not according to the rules posted above. The program will loop and prompt me to continue.

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The mass of a particular eagle is twice that of a hunted pigeon. Suppose the pigeon is flying north at ??,2=17.1vi,2=17.1 m/swhen the eagle swoops down, grabs the pigeon, and flies off. At the instant right before the attack, the eagle is flying toward the pigeon at an angle ?=45.5θ=45.5° below the horizontal and a speed of ??,1=39.7vi,1=39.7 m/s. What is the speed of the eagle immediately after it catches its prey? speed: What is the magnitude of the angle, measured from horizontal, at which the eagle is flying immediately after the strike? magnitude of angle:

Write a method that will have a C++ string passed to it. The string will be an email address and the method will return a bool to indicate that the email address is valid.

Email Validation Rules: ( These rules are not official.)

1) No whitespace allowed

2) 1 and only 1 @ symbol

3) 1 and only 1 period allowed after the @ symbol. Periods can exist before the @ sign.

4) 3 and only 3 characters after the period is required.

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Program will prompt for an email address and report if it is valid or not according to the rules posted above. The program will loop and prompt me to continue.

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Smooth Sailing is a private company that operates one cruise ship. Smooth Sailing’spurchase of the cruise ship was financed with nonrecourse debt. (Nonrecourse debt is a loan that is secured by a pledge of collateral, in this case the cruise ship, but for which the borrower is not personally liable. If the borrower defaults, the lender can seize the collateral, but the lender’s recovery is limited to the collateral.) The cruise ship has its own identifiable cash flows that are largely independent of the cash flows of other asset groups.

Because of an increased presence of pirates in the area in which Smooth Sailing cruises, the cruise ship’s operating performance has significantly declined, which has directly contributed to a decline in the ship’s overall fair value. In the current year (2010), Smooth Sailing’s annual operating cash flows have declined by 30 percent to $1.0 million, and its annual operating cash flows are expected to continue to decline in the near term. Because of this decline in the cruise ship’s fair value and operating performance, Smooth Sailings’ management is evaluating the following possible options for proceeding into 2011 and beyond:

These events indicate that the carrying amount of the asset group may not be recoverable and, therefore, Smooth Sailing will test the asset group for recoverability and potential impairment in accordance with ASC 360-10 as of the end of the current fiscal year, December 31, 2010.

As of December 31, 2010, the cruise ship’s estimated fair value is $4.0 million, net book value is $5.4 million, and estimated remaining useful life is five years. In addition, there is $0.2 million of net working capital (carried at fair value) directly attributable to the cruise ship.

HowshouldSmoothSailings’managementperformtherecoverabilitytestfor the cruise ship as of December 31, 2010? In addressing this question, consider:

a) What assets and liabilities should be included in the “asset group” as defined by FASC 360-10 for purposes of performing the recoverability test?

b) Howshouldthemultipleoperatingscenariosimpacttherecoverabilitytest?

2) What impairment loss, if any, should be recorded as of December 31, 2010?

3) Would the outcome of the recoverability and impairment tests change if the probability assessment was revised such that there was a 20 percent, 70 percent, and 10 percent probability of scenarios A, B, and C occurring, respectively? If so, how?

The residents of nnn spend all of their income on cauliflower, broccoli, and carrots. In 2020, they spend a total of $250 for 100 heads of cauliflower, $100 for 50 bunches of broccoli, and $250 for 500 carrots. In 2021, they spend a total of $210 for 60 heads of cauliflower, $180 for 90 bunches of broccoli, and $270 for 450 carrots.

Complete the following table by calculating the price of one unit of each vegetable in each year.

Using 2020 as the base year, the CPI for 2020 is   , and the CPI for 2021 is   .

The inflation rate in 2021 is    % using the CPI.

On January 1, 2020, ECT Co. adopted the dollar-value LIFO method for its one inventory pool. The pool's value on this date was $600 million. The 2020 and 2021 ending inventory valued at year-end costs were $702 million and $840 million, respectively. The appropriate cost indexes are 1.08 for 2020 and 1.20 for 2021.

Required:

Calculate the inventory balance that ECT Co. would report on its year-end balance sheets for 2020 and 2021, using the dollar-value LIFO method and submit using the DVL template.

On January 1, 2020, Penguin Corporation, the parent corporation of a consolidated group of corporations filing a calendar year consolidated tax return, acquires all of the stock of Steeler corporation for $3 million. In 2020, Steeler Corporation earns $500,000 of taxable income, it earns $20,000 of tax-exempt interest income, it pays Penguin corporation a dividend of $400,000. Steeler pays Penguin an amount equal to its stand-alone income tax liability for 2020, computed at the statutory tax rate of 21%. Compute Penguin’s year-end 2020 tax basis in Steeler stock.