Amanda is playing a game of chance in which she rolls a number cube with sides numbered from to 1 to 6. The number cube is fair, so a side is rolled at random. This game is this: Amanda rolls the number cube once. She wins $1 if a 1 is rolled, $2 if a 2 is rolled, $3 if a 3 is rolled, and 4 if a 4 is rolled. She loses $0,50 if a 4, 5 or 6 is rolled.
(a) Find the expected value of playing the game.
(b) What can Elsa expect in the long run, after playing the game many times?
1) Elsa can expect to gain money. She can expect to win__dollars per roll.
2) Elsa can expect to lose money. She can expect to lose___dollars per roll.
3) Elsa can expect to break even (neither gain nor lose money).

Answers

Answer 1

Answer:

a. 0.75

b. elsa can expect to gain money. 0.75$

Explanation:

x = 1/6 = 0.166667

given  an outcome of 1,

1$ win * 0.166667 = 0.166667

given an outcome of 2,

$2 win * 0.166667 = 0.33333

given an outcome of 3,

$3 win*0.166667 = 0.5

remember that if she has an out come of 4, 5 and 6 she loses 0.5 dollars

given an outcome of 4,

-$0.5 * 0.166667 = -0.083333

given an outcome of 5,

-$0.5 * 0.166667 = -0.083333

given an outcome of 6,

-$0.5 * 0.166667 = -0.083333

The expected value of playing the game = 0.166667+0.333333+0.5-0.083333-0.083333-0.083333

= 0.750001

expected value of plying game = 0.75

b. in the long run, after playing the game many times, Elsa can expect to gain money. she can expect to win 0.75$ per role. option 1


Related Questions

Beaver Company (a multi-product firm) produces 5,000 units of Product X each year. Each unit of Product X sells for $8 and has a contribution margin of $5. If Product X is discontinued, $18,000 of fixed overhead would be eliminated. As a result of discontinuing Product X, the company's overall operating income would:_______.
A. Decreaseby $25,000
B. Increase by $43,000
C. Decrease by $7,000
D. Increase by $7,000

Answers

Answer:

C. Decrease by $7,000

Explanation:

Calculation to determine what company's overall operating income would Decrease by

Using this formula

Overall operating income =(Product X units*Contribution margin )-Fixed overhead eliminated

Let plug in the formula

Overall operating income=(5,000 units*$5)-$18,000

Overall operating income=$25,000-$18,000

Overall operating income=$7,000 Decrease

Therefore As a result of discontinuing Product X, the company's overall operating income would:Decrease by $7,000

A new employee, John Chapman, earns $10 per hour and gets time-and-a-half over 40 hours per week. His first week he worked 45 hours. Deductions from his check were $30 for OASDI, $7 for Medicare, $ 61 for federal income tax withholding, and $15 for a United Way contribution. What was his gross pay for the period

Answers

Answer: $475

Explanation:

Gross pay is:

= Regular pay + Overtime

= (Regular hours * Regular pay) + ( Overtime hours * regular pay * time and a half)

= (10 * 40 hours) + ( (45 - 40 hours) * 10 * 1.5)

= 400 + 75

= $475

Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department for the current year follows. ATVs sell for $4,000 each. Variable selling expenses are $230 per ATV. The remaining selling expenses are fixed. Administrative expenses are 70% variable and 30% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,880 each.
POLARIX
Income Statement—Consumer ATV Department
For Year Ended December 31, 2017
Sales $619,200
Cost of goods sold 311,320
Gross margin 307,880
Operating expenses
Selling expenses $160,000
Administrative expenses 42,500 202,500
Net income $105,380
Required:
1. Prepare an income statement for this current year using the contribution margin format.
2. For each ATV sold during this year, what is the contribution toward covering fixed expenses and earning income?

Answers

what are you suppose to here ?

What is the plan of action used by management to identify how resources will be allocated, how the company will market in its competitive environment, and how the firm will attain its goals?

Answers

Answer: c. Strategy

Explanation:

Strategy refers to the means a person hopes to use in order to get something done. A company's strategy therefore will tell how the company will attempt to reach its goals.

It will tell the plan of action that the company will use and how resources will be allocated to satisfy the requirements of the plan. It will also tell how the company hopes to market its goods so as to gain an advantage in the market and generally everything else that the company needs to meets its goals.

Floyd tells his daughter Glenda that she can have his Harley Davidson when he dies, but he does not add this to his will, and he is not on his deathbed. This is

Answers

The scenario explained shows that this is not a valid gift.

Some of the criterias for a gift to be considered a valid gift is that there should be a competent donor, an eligible donee, an intention to donate a particular thing and there should be a transfer of possession of that property or thing.

In this case, Floyd tells his daughter that he will give her a particular gift when he dies, but he eventually does not add this to his will.

Therefore, in this case, there's no transfer of possession to the daughter. Therefore, it's not a valid gift.

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Avia Company sells a product for $150 per unit. Variable costs are $110 per unit, and fixed costs are $1500 per month. The company expects to sell 660 units in September. The unit contribution margin is ________.

Answers

Answer:

"$40 per unit" is the right solution.

Explanation:

Given:

Selling price per unit,

= $150

Variable cost per unit,

= $110

Fixed costs per month,

= $1500

The unit contribution margin will be:

= [tex]Selling \ price - Variable \ cost[/tex]

= [tex]150-110[/tex]

= [tex]40[/tex] ($) per unit

ABC Company uses the allowance method for estimating bad debts. Record the following journal entries:
12/31 ABC Company estimates that $5,000 of accounts receivable will be uncollectible.
3/5 ABC Company wrote off a $1,200 account of a customer, B. Brown.

Answers

Answer:

Date       Account titles and Explanations          Debit     Credit

31 Dec    Bad debts expense                              $5,000

                    Allowance for uncollectible accounts           $5,000

              (To record bad debts expense recorded)

5 Mar      Allowance for uncollectible accounts  $1,200

                    Accounts receivable                                       $1,200

              (To record account written off)

Swifty Corporation manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $145 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
Income would increase by $45000.
Income would increase by $3000.
Income would increase by $145000.
Income would decrease by $3000.
Coronado Industries is using the target cost approach on a new product. Information gathered so far reveals:
Expected annual sales 350000 units
Desired profit per unit $0.35
Target cost $168000
What is the target selling price per unit?
a. $0.48
b. $0.35
c. $0.70
d. $0.83

Answers

Answer:

1. Swifty Corporation

If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:

Income would increase by $45000.

2. Coronado Industries:

The target selling price per unit is:

d. $0.83

Explanation:

a) Data and Calculations:

Swifty Corporation:

Variable cost per unit = $100

Sales price per unit = $176

Contribution margin per unit = $76 ($176 - $100)

Fixed manufacturing costs = $480,000

Production and sales units = 10,000 units

Revenue from special order = $145,000 ($145 * 1,000)

Variable costs for 1,000 units    100,000 ($100 * 1,000)

Contribution margin                  $45,000 ($145,000 - $100,000)

Fixed costs for special order         $0

Net income =                             $45,000

Coronado Industries:

Expected annual sales 350,000 units

Desired profit per unit $0.35

Target cost $168,000

Desired profit = $122,500 (350,000 * $0.35)

Total sales revenue = $290,500 ($168,000 + $122,500)

Target selling price per unit = $0.83 ($290,500/350,000)

You have been tasked with advising the dictator of a nation over what he should do to increase the countries GDP. He suggests printing money and increasing the growth rate of the money supply. He wants to give this newly printed currency to his soldiers and best political supporters. You know this will not increase GDP in the long run because:

I. Money is neutral
II. Increasing the growth of the money supply only causes inflation in the long run
III. He would only increase GDP in the long run if he distributed the money equally to all citizens
IV. He would only increase GDP in the long run only if he printed a large enough sum of money

a. I and II only I
b. II, and III only
c. I, II, III, and IV
d. III only

Answers

Answer: a. I and II only

Explanation:

Money is neutral which means that even if you change to supply of money in an economy, it will not translate to an increase in GDP because only the nominal values of things will change (as a result of inflation) while the real values of things like GDP will remain the same.

Increasing the growth of money supply by printing money would also cause inflation in the long run because the money will lose its value like goods do when their supply is increased even though demand does not. A weaker currency needs more units to buy a good which is where the inflation will come from.  

Exercise 8-19 Amortization of intangible assets LO P4 Milano Gallery purchases the copyright on a painting for $418,000 on January 1. The copyright is good for 10 more years. The company plans to sell prints for 11 years. Prepare entries to record the purchase of the copyright on January 1 and its annual amortization on December 31.

Answers

Answer:

Jan 01

Dr Copyright $418,000

Cr Cash $418,000

Dec 31

Dr Amortization expense—Copyright $41,800

Cr Accumulated amortization—Copyright $41,800

Explanation:

Preparation of entries to record the purchase of the copyright on January 1 and its annual amortization on December 31.

Jan 01

Dr Copyright $418,000

Cr Cash $418,000

(To record purchase of copyright )

Dec 31

Dr Amortization expense—Copyright $41,800

Cr Accumulated amortization—Copyright $41,800

($418,000/10 years)

(To record amortization expense of copyright )

Cash Short and Over Entries
Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained.
Date Change Fund Cash Register Actual Cash
Receipt Amount Counted
July 2 $100 $281.80 $379.00
July 9 100 311.50 411.50
July 16 100 304.10 406.90
July 23 100 318.20 416.00
July 30 100 293.60 397.50
1. Determine the ending balance of the cash short and over account.
2. Does it represent an expense or revenue?

Answers

Answer:

1. Ending balance of cash short and over account:

Ending cash = 100 beginning balance + Cash register amount - Actual cash counted

July 2 = 100 + 281.80 - 379.00

= $2.80 shortage because actual cash is less than it should be

July 9 = 100 + 311.50 - 411.50

= $0

July 16 = 100 + 304.10 - 406.90

= $2.80 surplus because actual cash is more

July 23 = 100 + 318.20 - 416.00

= $2.20 shortage

July 30 = 100 + 293.60 - 397.50

= $3.90 surplus

Balance = Surplus - shortages

= (3.90 + 2.80) - (2.80 + 2.20)

= $1.70

2. This is revenue because it is a surplus.

On January 2, 2021, Cullumber Hospital purchased a $106,000 special radiology scanner from Bella Inc. The scanner had a useful life of 4 years and was estimated to have no disposal value at the end of its useful life. The straight-line method of depreciation is used on this scanner. Annual operating costs with this scanner are $104,000. Approximately one year later, the hospital is approached by Dyno Technology salesperson, Jacob Cullen, who indicated that purchasing the scanner in 2021 from Bella Inc. was a mistake. He points out that Dyno has a scanner that will save Cullumber Hospital $25,000 a year in operating expenses over its 3-year useful life. Jacob notes that the new scanner will cost $110,000 and has the same capabilities as the scanner purchased last year. The hospital agrees that both scanners are of equal quality. The new scanner will have no disposal value. Jacob agrees to buy the old scanner from Cullumber Hospital for $57,500.
(a) Your answer is correct.
If Twilight Hospital sells its old scanner on January 2, 2022, compute the gain or loss on the sale.
(b) Prepare an incremental analysis of Twilight Hospital. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Should Twilight Hospital purchase the new scanner on January 2, 2022?

Answers

Answer:

Explanation:

EI lá, nn sou da área da matemática, foi mal

As of December 31, Drake Inc. reported the following (in millions): Current AssetsLong-term AssetsCurrent LiabilitiesTotal Liabilities $31,967$42,737$26,132$61,491 What amount did Drake Inc. report as equity on December 31

Answers

Answer:

$13,213

Explanation:

The computation of the equity is shown below:

As we know that

Total assets = total liabilities + total stockholder equity

here

Totalassets be

= $31,967 + $42,737

= $74,707

ANd, the total liabilities is $61,491

So, the equity should be

= $74,707 - $61,491

= $13,213

Cheers Corporation purchased for $500,000 5,000 shares of Beer Corporation common stock (less than 5% of the outstanding Beer stock) at the beginning of the current year. It used $400,000 of borrowed money and $100,000 of its own cash to make this purchase. Cheers paid $50,000 of interest on the debt this year. Cheers received a $40,000 cash dividend on the Beer stock on September 1 of the current year. Cheers has $5 million of taxable income before any dividends-received deduction. a. What amount can Cheers deduct for the interest paid on the loan

Answers

Answer:

Cheers Corporation

The amount that Cheers can deduct for the interest paid on the loan is:

= $50,000.

Explanation:

a) Data:

Investment in Beer Corporation = $500,000

Number of Beer shares purchased = 5,000

Percentage shareholding in Beer Corporation < 5%

Amount borrowed for the investment = $400,000

Own cash used for the purchase = $100,000

Interest paid on the debt for this year = $50,000 = 12.5%

Cash dividend received for the year = $40,000

Cheers taxable income before dividends = $5 million

The amount of interest deductible = $50,000

b) Since the interest was made for the purpose of the investment in Beers Corporation, the whole amount of interest expense for the year is deductible.

PET Co. owns 80% of the common shares of SAL Corp. PET has no other investments. Goodwill associated with the investment is nil, but there is a fair value increment of $62,500 relating to SAL's patent that is being amortized over 10 years. PET's and SAL's reported net income for 20X5 is as follows: PET Co. SAL Corp. Net income $200,000 $50,000 SAL declared $25,000 in dividends in 20X5. Assuming PET uses the cost method, what amount of consolidated net income attributable to the parent (ATP) would be reported in 20X5?
a) $210,000
b) $215,000
c) $223,750
d) $235,000

Answers

Co so the Anwser must be c

Pop owns 87% of the common stock of Sugar. On December 31, 2017, Pop's Receivables include $296,880 that Pop advanced to Sugar. What portion (stated in dollars) of the intercompany receivable should be eliminated in preparing Pop's consolidated financial statements

Answers

Answer: $296,880

Explanation:

Pop owns more than 50% of Sugar which means that Sugar is a subsidiary of Pop's. When this happens, trade between the two are not shown in the consolidated financial statement unless the goods traded have been sold off to a third party.

As these goods have not, and are still considered accounts receivable to Sugar, the entire amount will be removed from the consolidated financial statements.

Aureolin Company manufactures toothpaste and packs them in tubes of 250 grams. Standard variable overhead rate (SVOR) $3.90 per direct labor hour Actual variable overhead $79,721 Actual hours worked (AH) 22,290 hours Hours allowed for production (SH) 18,000 hours Determine the variable overhead spending variance.

Answers

Answer:

Variable manufacturing overhead spending variance= $7,132.8 favorable

Explanation:

Giving the following information:

Standard variable overhead rate (SVOR) $3.90 per direct labor hour

Actual variable overhead $79,721

Actual hours worked (AH) 22,290 hours

To calculate the variable overhead spending variance, we need to use the following formula:

Variable manufacturing overhead spending variance= (standard rate - actual rate)* actual quantity

Variable manufacturing overhead spending variance= (3.9 - 3.58)*22,290

Variable manufacturing overhead spending variance= $7,132.8 favorable

Actual rate= 79,721/22,290= $3.58

A Whopper combo meal costs $3.00 and gives you an additional 15 units of utility; a meal at the Embassy Suites costs $29.00 and gives you an additional 145 units of utility. Based solely on the information you have, using the theory of rational choice, you most likely would:

Answers

Answer:

be indifferent between the two meals

Explanation:

Marginal utility is the additional satisfaction received from consuming an additional unit of a good or service. Marginal utility is the additional utility derived from consuming one more unit of a good. the consumption decision is to consume more units of a good that gives the higher utility per good.

Marginal utility per good = marginal utility / price of the good

Whopper combo meal = 15 / 3 = 5

a meal at the Embassy Suites = 145 / 29 = 5

both meals have the same marginal utility of 5. She would be indifferent between consuming the two meals

The company has net sales revenue of $3.6 million during 2018. The company's records also included the following information: Assets 12/31/17 12/31/18 Property, plant and equipment $ 2.3 million $ 2.5 million Licensing agreements $ 0.5 million $ 0.4 million Goodwill $ 0.3 million $ 0.3 million Investments $ 0.4 million $ 0.5 million What is the company's fixed asset turnover ratio for 2018

Answers

Answer:

1.5

Explanation:

Calculation to determine the company's fixed asset turnover ratio for 2018

Average Net Fixed Assets=3,600,000/ [(2,300,000 + 2,500,000)/2]

Average Net Fixed Assets=3,600,000/(4,800,000/2)

Average Net Fixed Assets=3,600,000/2,400,000

Average Net Fixed Assets = 1.5

Therefore the company's fixed asset turnover ratio for 2018 is 1.5

This year, Gogo Inc. granted a nonqualified stock option to Mrs. Mill to buy 10,000 shares of Gogo stock for $8 per share for five years. At date of grant, Gogo stock was selling on a regional securities market for $7.87 per share. Gogo recorded $26,700 compensation expense for the estimated value of the option. Five years after Gogo granted the option to Mrs. Mill, she exercised it on a day when Gogo stock was selling for $10.31 per share. Required: How much income must Mrs. Mill recognize in the year of exercise

Answers

Answer:

Gogo Inc. and Mrs. Mill

The Income that Mrs. Mill must recognize in the year of exercise is:

= $23,100

Explanation:

a) Data and Calculations:

Options given to Mrs. Mill = 10,000 shares of Gogo stock

Exercise price of the options = $8 per share

Period of option exercise = 5 years

Selling price of shares at grant date = $7.87

Selling price of shares at exercise date = $10.31

Compensation expense recorded by Gogo = $26,700

Cost of options to Mrs. Mill = $80,000 (10,000 * $8)

Income that Mrs. Mill must recognize in the year of exercise = $23,100 ($10.31 - $8) * 10,000

Answer:

marco

Explanation:

Buff is considering a new packaging machine. The initial cost is $10,000 and we would save $4,000 per year in labor costs. If our MARR is 12% and our projects must have a 3-year discounted payback period, should we purchase this packaging machine?
Yes
No
Not enough nformation to answer.

Answers

Answer:

NO

Explanation:

Discounted payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative discounted cash flows

For the machine to be accepted, the total amount invested should be recovered in three years or less

Amount recovered = - cost of the project + discounted value of the cash flow

Amount recovered in year 1 = -10,000 + (4000 / 1.12) = -6,428.57

Amount recovered in year 2= -6,428.57 - (4000/ 1.12^2) = -3239.74

Amount recovered in year 3=  -3239.74 + (4000/ 1.12^3) = -392.62

the project would not be accepted because the amount invested would not be recovered within 3 years

Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning inventory 510 $ 2.38 Apr. 20 Purchase 370 2.63 Dunbar sold 650 units of inventory during the month. Ending inventory assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimal places and final answer to the nearest dollar amount.) Multiple Choice

Answers

Answer:

$572

Explanation:

The calculation of the ending inventory under weighted average cost is given below:

But before that the average cost per unit should be

= (510 × $2.38 + 370 × $2.63) ÷ (510 units + 370 units)

= ($1,213.80 + $973.10) ÷ (880 units)

= $2.4851

Now the ending inventory should be

= (510 + 370 - 650) × $2.4851

= $572

On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,600. The ending inventory, valued at year-end costs, and the relative cost index for each of the next three years is below:

Year-end Ending inventory at year-end costs Cost Index
2021 $131,040 1.05
2022 150,040 1.10
2023 160,320 1.20

In determining the inventory balance for Badger to report in its 12/31/2022 balance sheet: _____________-

a. An additional layer of $12,760 is added to the 12/31/2021 balance.
b. An additional layer of $24,760 is added to the 12/31/2021 balance.
c. An additional layer of $23,760 is added to the 12/31/2021 balance.
d. None of these answer choices are correct.

Answers

Answer:

a. An additional layer of $12,760 is added to the 12/31/2021 balance.

Explanation:

The computation of the inventory balance is given below:

2021 Base year cost is

=  $131,040 ÷ 1.05

= $124,800

Additional layer is

= $124,800 - $101,600

= $23,200

2022 Base year cost is

= $150,040 ÷ 1.10

= $136,400

Additional layer is

= ($136,400 - $124,800 ) × 1.10

= $11,600  1.10

= $12,760

Therefore the first option is correct

Wisconsin Snowmobile Corp. is considering a switch to level production. Cost efficiencies would occur under level production, and aftertax costs would decline by $30,000, but inventory would increase by $250,000. Wisconsin Snowmobile would have to finance the extra inventory at a cost of 13.5 percent.

a. Should the company go ahead and switch to level production?
b. How low would interest rates need to fall before level production would be feasible?

Answers

byyyyyyyyyyyyyyyyyyyyy

If the importer... the bill

Answers

Answer:

sorry

Explanation:

Blue Manufacturing produces lathes at an inventory cost of $25,000 each that sell for $32,000 each. For credit-approved customers, Blue leases the lathes for $8,500 per year for five years. The lathes are guaranteed to last four years and generally have a six-year life. Collection is predictable and reasonably assured. Additionally, the lessor is aware of all costs to be incurred under the lease that will not be reimbursed by the lessor. What is the financing profit of Blue Manufacturing on a leased lathe

Answers

Answer:

The right solution is "$10,500".

Explanation:

Given values are:

Inventory cost,

= $25,000

Selling cost,

= $32,000

The financing profit will be:

= [tex]Lease\ payment - Selling\ price[/tex]

= [tex](8500\times 5) - 32000[/tex]

= [tex]42500 - 32000[/tex]

= [tex]10,500[/tex] ($)

Define the KPI ‘rate of staff absenteeism’.

Answers

Answer:

KPI, Key Performance Indicators are used for measuring the average absenteeism rate per employee. This is computed as a % of the total working days.

Explanation:

Individual employee Key Performance Indicators (KPIs) are metrics that assist in tracking the ability of your employees to meet your expectations and their impact on the business goals.

Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%. Calculate Jebali's depletion allowance for the current year. $fill in the blank 1

Answers

Answer:

15,540

Explanation:

Depletion = depletion rate x (gross income - expenses)

0.14 x ($340,000 - $229,000) = 15,540

A company like Motorola might establish a goal of reducing its inventory by 50 percent over the next year. To ensure that it reaches this goal, the company could monitor its progress on a quarterly or monthly basis. If the managers at Motorola discover that there is a danger of not achieving this goal, they can take corrective action to adjust for the deficiency. This is a description of the managers' ____ function.

Answers

Answer:

stfhgocovovohdj vbb

Explanation:

sryyy

Assume, for this question only, the following: During the negotiations Juan guaranteed Sarita that the business had turned a profit in each of the past 5 years. Actually, it lost money in each of those years, although Juan did not know that. When Juan made the statement about the business's profitability, however, Sarita was conferring with her attorney and did not hear it. Her friend Harry, who was observing the negotiations, heard Juan's statement. Before long, when Sarita realizes what a bad deal she's made, she laments the fact to Harry. When Harry inquires how a business that had been profitable under Juan was suddenly losing money, Sarita is confused. They finally realize that Harry heard Juan's misstatement about the business's profitability and Sarita did not. Even so, Sarita is thrilled. With Harry as her key witness, she seeks to rescind the sale agreement claiming innocent misrepresentation. Which of the following is true?
A. Rescission, because Juan intended to defraud Sarita.
B. No rescission, because Juan's claims of the business's profitability would not have been material to Sarita if she had heard them.
C. No rescission, because Juan lacked sufficient knowledge of the false nature of his statement and did not intend to trick Sarita.
D. Rescission, because Juan's claims of the business's profitability would have been material to Sarita if she had heard them. E. No rescission, because Sarita did not actually rely on Juan's false statement about the business's profitability.

Answers

Answer:

The true statement about this case is:

D. Rescission, because Juan's claims of the business's profitability would have been material to Sarita if she had heard them.

Explanation:

Though Juan was unaware that the statement was false at the time the contract was signed, the remedy is recession since no damage has been sustained by the other party.  The false statement borders on negligent misrepresentation because Juan was supposed to be aware of the company's profitability by investigating the material fact.  While it is not clear if reliance was placed on the statement when the contract was signed, the fact remains that there was a negligent misrepresentation.

Other Questions
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