Answer:
New Credit Corporation.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Also, mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In this scenario, Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda's Bagel Café in exchange for her payment of a debt that Lyle owes to New Credit Corporation. Under this contract, the intended beneficiary is New Credit Corporation as agreed upon by Lyle and Miranda.
An intended beneficiary can be defined as a third-party deemed to be the recipient of an action with respect to the execution of a contract.
Answer:
A. Dr Salary Expense $3,140
Cr Salary expense outstanding $3,140
B. Dr Income summary $275,790
Cr Salary expense $275,790
Explanation:
A. Preparation of the adjusting entry to record accrued salaries as of August 31
August 31
Dr Salary Expense $3,140
Cr Salary expense outstanding $3,140
(To record accrued salaries)
B. Preparation of the Closing entry on August 31
August 31
Dr Income summary $275,790
Cr Salary expense $275,790
($272,650+$3,140)
(To record Closing entry)
<span>Channel management is defined as the type of management that is used in a situation where a company develops various marketing techniques and strategies in order to reach the widest possible customer base. The channels are the means used to market the product. Unethical activity usually caused by channel management is UNFAIR DISCRIMINATION. </span>
Answer:
C. The Cassies will win.
Explanation:
In the given case, the cassies would win as this was appraisal fraud that done by the company employee who is a Bank of america Subsidiary. Here the loan broker and the appraiser increase the fair market value of cassies home i.e. $620,000 but it would be lesser that is $250,000. So this inflate the value in order to make the payment of high rate with related to the mortgage
Answer:
people care more about their own surplus than they do about total surplus.
Explanation:
Price control can either be a price ceiling or a price floor.
A price ceiling is when the government or an agency of the government sets the maximum price for a good or service. It is usually set below equilibrium price.
Price ceiling increase consumer surplus and reduce producer surplus.
A price floor is when the government or an agency of the government sets the least price a good or service can be sold. It is usually set above equilibrium price.
Price floor increases producer surplus and reduces consumer surplus.
Producers would be advocating for a price floor because it increases their surplus, while, consumers would advocate for a price ceiling.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Producer surplus is the difference between the price of a product and the least price the seller is willing to sell the product.
I hope my answer helps you
