According to the Uniform Commercial Code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods courts generally have no basis for determining a remedy.
<h3>What do you mean by Uniform Commercial Code?</h3>
The uniform Commercial code states that a sale consists of the passing of title from the seller to the buyer for a price.
According to the Uniform Commercial code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods, courts have no basis for the determination of remedy.
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Answer:
Dr Inventory Purchases $250
Cr Trade Payables $250
Explanation:
At the time of the purchase, Inventory purchases which is an asset in nature has been increased and hence must be debited by $250 and similarly the Payable has been increased which is liability in nature and hence must be credited with $250. The entry would be as under:
Dr Inventory Purchases $250
Cr Trade Payables $250
Answer:
Executive summary
Explanation:
It provides information about the business's purpose.
Answer:
Plan A cost $26,000
Explanation:
(21 * 6) + (13 * 18) + (19 * 2) + (7*4) + (11 * 2) + (4 * 18)
126 + 234 + 38 + 28 + 22 + 72
52,000 * 0.50 = 26,000
