This statement is true.
An oral contract is a type of business contract that is outlined and agreed upon through oral communication, but not written down. Although it can be difficult to prove the terms of an oral contract in the event of a breach, this type of contract is legally binding.
An oral contract is an agreement entered into by two or more parties orally or on verbal terms only. For example, if a contractor comes to your house and says it will cost him $10,000 to remodel a bathroom, and you both agree on the terms of the remodel, you have a deal.
Oral contracts are generally enforceable as long as the basic elements of the contract are in place. That is offers, acceptances, exchanges of consideration, and disagreements regarding the specific terms of a contract. You do not have to agree to non-mandatory terms and conditions to make an oral contract enforceable
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Answer:
1.33
Explanation:
Data provided in the question:
Cash = $14,000
Marketable securities = $8,000
Account receivable = $34,000
Current liabilities = $42,000
Now,
Acid Test Ratio
= (Cash + Marketable securities + Account receivable) ÷ Current Liabilities
= ( $14,000 + $8,000 + $34,000 ) ÷ $42,000
= $56,000 ÷ $42,000
= 1.33
Answer:
The correct answer is C
Explanation:
Specialty retailer is the kind of retailer whose focus is on a particular categories of the product like office supplies or women's clothing.
So, in this case, David decided to host a party of Pampered Chef and he could purchase the items of the Pampered Chef at a discount and even the free items as he is hosting a party. So, Pampered Chef will be classified as the specialty retailer.
Answer:
A
Explanation:
If the company has introduced a loyalty program, customers are less likely to patronise other business. Thus, the threat of new entrants is reduced as firms would be less likely to enter into the industry knowing there is a high degree of customer loyalty to company XYZ
The best answer would be answer choice c.
