Answer:
B) The contract rules of the UCC apply, because the predominant purpose of the contract was sale of goods.
Explanation:
The contract doesn´t include in its mayor part provision of services. And Sally wanted to sue Good Carpet for the services that they provided, not for the good it sells.
Answer:
The down payment is 19000 and monthly payment is 664.009
Explanation:
The purchase price of condominium = $95000
Down payment = 20%
Interest charged = 9.5 %
Time period = 25 years
Down payment amount = 95000 × 20% = 19000
Remaining loan amount = $76000
Below is the calculation of monthly payment:
Answer:
The answer is letter "D": Estimate the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods.
Explanation:
There are five steps for revenue recognition established by the Financial Accounting Standards Board (<em>FASB</em>) which are: <em>Identifying the contract with a customer; Identifying the performance obligations in the contract; Determining the transaction price; Allocating the prices to the performance obligations </em>and<em>; Recognizing revenue.</em>
In that sense, estimating the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods has nothing to do with it.
Answer:
The answer is:
1. Commodity
2. Fiat
Explanation:
We have two questions here.
First, the answer is commodity money. Commodity money is the type of money whose value are tied to the commodity it is made up of. This is used as a medium of exchange when the value of money falls totally (during inflation or hyperinflation.) Examples of commodity money can be gold, cocoa,copper etc.
Second question. The answer is fiat money. Fiat money is the currency issued by the national government of a country through The Fed(in US) or Central banks (in most countries).
The fiat money in US is the US dollar, for Nigeria is Nigerian naira etc. It is a legal tender in those countries.
Answer:
option (B) 31,500
Explanation:
Data provided in the question:
Annual earning = $24,000
Worth of uniform = $350
Training worth = $850
Contribution to 401(k) = half of 4% of earning
= 0.5 × 0.04 × $24,000
= $480
monthly amounts toward her insurance:
health = $125
Life = $50
AD&D = $30
Total annual amounts toward her insurance = 12 × [ $125 + $50 +$30 ]
= 12 × 205
= $2,460
Therefore,
Employer taxes and insurance = 14% of $24,000
= $3,360
Therefore,
Cordelia's total annual compensation
= $24,000 + $350 + $850 + $480 + $2,460 + $3,360
= $31,500
Hence,
Answer is option (B) 31,500
