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WITCHER [35]
1 year ago
7

bart and claire are under contract for claire to buy bart's house, but her financing fell through. they decide to cancel the con

tract just as if it never happened. which termination method does this describe?
Business
1 answer:
denis23 [38]1 year ago
5 0

Rescission termination method is described as they decide to cancel the contract just as if it never happened.

<h3>What is termination method?</h3>

Termination is defined as the manner in which the connector is attached to the cable or wire. An essential component of using and choosing connections is the appropriate selection of termination techniques and use of termination technologies.

Rescission termination method is defined as a legal remedy that enables a party to a contract to break it. The process of rescinding a transaction. This is carried out in an effort to return the parties to their pre-contractual state as closely as feasible.

Thus, rescission termination method is described as they decide to cancel the contract just as if it never happened.

To learn more about termination method, refer to the link below:

brainly.com/question/14670135

#SPJ1

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Vito borrows $150,000 from Workers &amp; Farmers Bank to buy a home. If he fails to make payments on the mortgage, the bank has
mariarad [96]

Answer: Option C

Explanation:  Foreclosure is something that occurs if the mortgage is not paid by a borrower. In fact, it is a judicial process through which the person relinquishes all ownership rights.

If the owner is unable to settle off the outstanding loans or sell property through a short sale, then the estate will go to an exchange for foreclosure. If the estate does not sell then, it will be taken over by the lender.

When a lender loans you money without any collateral (credit card debt, for instance), it can take you to court for failure to pay, but it can be very hard to collect money from you.

Lenders often sell this sort of debt to outside collection agencies for pennies on the dollar and write off the loss. This is considered an “unsecured loan.”

5 0
3 years ago
Accounts payable: Select one: a. Are amounts owed to suppliers for products and/or services purchased on credit. b. Are long-ter
Nutka1998 [239]

Answer:

The correct answer is letter "A":  Are amounts owed to suppliers for products and/or services purchased on credit.

Explanation:

Accounts Payable is the amount of the total invoices currently awaiting payment by the company. These invoices are from suppliers of products and services that have recently been delivered. They are usually due within 15, 30 or 45 days after receiving the invoice from the vendor.

6 0
3 years ago
Ken and traci are two woodworkers who both make tables and chairs. in one month, ken can make 3 tables or 18 chairs, whereas tra
marysya [2.9K]
<span>The answer is 1/6 table for ken and 1/3 table for traci. Woodworking is the activity or talent of making items from wood, it includes cabinet making, wood carving ,carpentry and woodturning, with the advantage of modern technology and the demands of industry, woodwork nowadays has changed.</span>
7 0
3 years ago
Read 2 more answers
The process by which an increase in government borrowing results in less borrowing by businesses and consumers for private inves
Gemiola [76]

The process by which an increase in government borrowing results in less borrowing by businesses and consumers for private investment is called expansionary fiscal policy.

<h3>What Is Expansionary Fiscal Policy</h3>

Expansionary fiscal policy refers to an increament in government spending, a decrease in tax revenue, or a combination of the two.

Expansionary fiscal policy is aimed at spurring economic activity and drive development.

Learn more about Fiscal policy at brainly.com/question/6583917

4 0
2 years ago
Assuming purchase costs are rising, determine which of the statements below are correct regarding the cost of goods sold under F
anzhelika [568]

Answer:

A

B

C

D

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

Weighted average cost method calculates the cost of goods sold as the weighted average of cost of inventory

In periods of rising prices, later purchased goods would have a higher price. As a result, LIFO would report a lower net income while companies using FIFO would report the highest gross profit and net income.

Because of the high net income reported under FIFO, tax paid would be the highest too

6 0
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