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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

You might be interested in
Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of go
sdas [7]

Answer: The quality and design of calculators improved dramatically from 2014 to 2016.

A new, safe method of memory enhancement became available for purchase.

As the price of textbooks increased, more and more students turned to the used-book market or chose not to buy textbooks at all, instead using the copies on reserve in the library.

Explanation: If textbook price increases , it might overstate the inflation in cost of going to college.

A new safe memory enhancement will be costly because of it's superior quality and technological progress.

Similarly , new calculator will also be improved and superior.

<em><u>Thus, the survey will reflect higher prices,</u></em>

<em><u></u></em>

6 0
3 years ago
Luebke Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at th
ozzi

Answer:The adjusted cost of goods sold that would appear on the income statement for November is:=$246,600

Explanation:

Beginning finished goods inventory      $64,000

Add: Cost of goods manufactured           $218,000

Cost of goods available for sale                $282,000

Less: Ending finished goods inventory         $31,200

Unadjusted cost of goods sold                     $250,800

Less: over applied overhead

 Over applied manufacturing overhead cost = manufacturing overhead cost directed to Work in Process - Actual manufacturing overhead cost incurred    =$62,800- $58,600= 4,200

Adjusted cost of goods sold                $250,800 -$4,200 =$246,600

7 0
3 years ago
Classify each item as an operating, investing, or financing activity. Assume all items involve cash unless there is information
Valentin [98]

Answer: Please refer to Explanation

Explanation:

A little introduction.

The Cash Flow Statement is divided into 3 sections being the operating, investing, or financing sections.

Operating Section

- The entries that fall under here are directly related to the provision of goods and services by the company for its consumers. They involve cash receipts from sales, payments to suppliers and taxes amongst others.

Investing Section

- This part of the Statement includes cash spent or cash generated from Investment activities such as the purchase of other company stocks or bonds and the cash entries related to Fixed assets.

Financing Section

- This section has to do with the entries related to how the company is funded and include shares, bonds and dividends.

Classifying the Above therefore we have,

a) Purchase of equipment. INVESTING ACTIVITY.

(b) Sale of building. INVESTING ACTIVITY.

(c) Redemption of bonds. FINANCING ACTIVITY.

(d) Cash received from sale of goods. OPERATING ACTIVITY.

(e) Payment of dividends. FINANCING ACTIVITY.

(f) Issuance of capital stock. FINANCING ACTIVITY.

If you need any further clarification do comment. Cheers.

5 0
3 years ago
For Gundy Company, units to be produced are 5,210 in quarter 1 and 6,500 in quarter 2. It takes 1.5 hours to make a finished uni
Levart [38]

Answer and Explanation:

The preparation of the direct labor budget by quarters is presented below:

                                       <u>GUNDY COMPANY </u>

<u>                       Direct Labor Budget, June 30, 2020</u>

<u>                      For the Six Months Ending June 30, 2020</u>

<u> Particulars        Quarter 1          Quarter 2           Six months</u>

Units

produced           5,210                 6,500          

Multiply

Direct labor

time per unit       1.5 hours         1.5 hours

Total

required direct

labors                   7,815             9,750

Multiply Hourly

wage rate             $15                 $15

Total direct

labor cost           $117,225        $146,250         $263,475

4 0
3 years ago
You recently purchased a stock that is expected to earn 23 percent in a booming economy, 12 percent in a normal economy, and los
Phoenix [80]

Answer:

Expected rate of return on this stock= 13.59 %

Explanation:

<em>The expected return on investment is the weighted average of all the return from possible outcomes weighted according to the probability of each outcome. </em>

This principle would be applied as follows:

<em>Outcome    Probability(P)   Return(R)      P× R</em>

Boom          0.24             ×         23%   =    5.52 %

Normal       0.69           ×           12%  =  8.28 %

Recess        0.07           ×          -3%     = -0.21 %

Expected Return =     5.52 % + 8.28 %-0.21 % =  13.59 %

Expected rate of return on this stock= 13.59 %

8 0
3 years ago
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