Answer:
Output; Is
In a(n) <u>output</u> contract, the seller guarantees to sell 100 percent of its goods to one buyer, and the buyer agrees to accept the entire quantity. In a(n) contract, the buyer agrees to purchase 100 percent of its goods from one seller. These kinds of contracts <u>is</u> enforceable under the UCC.
Option A.
The best way to avoid disasters at a catering event is to prepare backup food.
Always we should have a backup option so that in case, any mishappening or disaster hapens, the guest can be served something and they won't have a bad experience m
Answer:
the proper recording of this liability each year from 2016 through 2018 under GAAP is $150,000.
Explanation:
since the first amount cannot be determinable now, we cannot record it as a liability.
After the settlement of the dispute by the customer and company outside the court the company should record the loss and a liability at an amount of $150,000 because it is certain and determinable now.
Answer:
Threat of substitutes.
Explanation:
In this case, the buyer tries to obtain the same benefit at a lower cost and does so through a substitute product. This is a classic example of: Threat of substitutes.
Answer:
b. $2,000
Explanation:
Marvin liability immediately before the cancellation=$43,000
Marvin FMV of assets immediately before the cancellation=$38,000
Difference between two liability and assets=43,000-38,000
=$5,000
Form 1099-C canceled credit debit=$7,000
Amount of canceled debt that marvin will report=7,000-5,000
=$2,000
So the answer shall be b. $2,000
