Answer:
Enforceable
Explanation:
Statute of frauds are legal requirements that a contract must have before it is considered to be enforceable.
Normally written contracts are required for transactions that are above $500, for sale of land, and transctions that last one year or longer.
The contract amount in the given scenario is (1000 pencils * $0.25) = $250
This amount falls below what is required for a written agreement. So an oral agreement can suffice in this case.
The contract is enforceable
the cost of the equipment is : $72,650
What is incurred?
In accounting, the phrase "incurred" refers to the moment that a transaction or an expense occurs and needs to be documented. To put it another way, it is the precise date that a financial operation occurred and needs to be recorded in the accounting system. Under the accrual method of accounting, the idea of "incurred" is particularly crucial in generally accepted accounting rules. According to this idea, all transactions—regardless of their nature—must be acknowledged (recorded) as soon as they are incurred, regardless of when they were actually paid for. This implies that it is necessary to maintain accurate and trustworthy accounting records.
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Lyft raises ride-sharing fares when more people need rides and vice versa. This is referred to as Surge pricing. Hence option D is correct.
<h3>What does pricing stand for?</h3>
Pricing is the process of determining the value that a manufacturer will receive in exchange for their goods and services. The producer uses a pricing strategy to make the cost of its products suitable for both the manufacturer and the consumer.
When a business increases the price of a good or service when demand is high and lowers prices when demand is low, this practice is known as "surge pricing."
Hence option d is correct.
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Answer:
d. multiplying units to be produced by direct materials per unit.
Explanation:
To determine the total direct material, key parameters required are the direct material cost per unit and the number of units to be produced. The product of these two parameters gives the direct material cost required for production.
For example, if there are 10 units of an item to be produced and the direct material cost per unit is $4, the direct material cost needed for production is $40 derived from the product of the number of units and the direct material cost per unit.
Therefore, the right option is d. multiplying units to be produced by direct materials per unit.
Answer:
Please find the detailed answer as follows:
Explanation:
a) The cost of obtaining an MBA degree for someone who is employed in a business position normally is a deductible education expense. But if the reason for taking course is to qualify her for a new trade or business then the expense will not be deductible or disallowed.
Reasons Deductible or Nondeductible
- It is to maintain or improve existing skills required in her present job. Deductible
- It is to meet the minimum educational standards for qualification in her existing job. Deductible
- It is to qualify her for a new trade or business. Nondeductible
.
- It is to meet the express requirements of her employer or the requirements imposed by law to retain her employment status. Deductible.
b) $4,000 will be allowed as deduction for qualified tuition under § 222. Except for this amount of tuition portion, Jamie must itemize to claim the deduction and it will also be subject to the 2% of AGI limitation.
