Answer: No, Paul has not breached a contract.
Explanation: To answer this, we must first we must define what a contract is.
A contract is an agreement between two or more people that is legally binding, and which guides or governs the actions or conducts of the parties involved.
A quality that makes a contract legally binding is that it is enforceable by law.
In the scenario given in the question above, Paul has not breached any contract because there isn't one. The promise to buy dinner has not been legally bound, therefore, it is not enforceable by law, in essence, it is not qualified to be called a contract.
Answer:
The necessary entries would be:
Dr Accounts receivable $11,000
Cr Sales revenue $10,000
Cr Deferred revenue $,1000
Explanation:
Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.
This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the later would be recognized when is installation is concluded.
Answer: C
Explanation: average total cost is at its minimum
Answer: Technology is the vital force in the modern form of business globalization. ... Technology has helped us in overcoming the major hurdles of globalization and international trade such as trade barrier, lack of common ethical standard, transportation cost and delay in information exchange, thereby changing the market place.
Explanation:
Answer:
Kroger has the buying objective of responsible sourcing and supply chain sustainability.
Explanation:
Responsible sourcing involves procuring materials for a business where ethics and long-term sustainability are the watchwords.
The only to way to ensure suppliers do the right in business is for their customers to assess them based on ethics and sustainability,hence supplier that does not conform to ideal business ethics is at the risk of losing business. No doubt that suppliers are forced to the right thing in ensuring the environment and their host communities do not suffer hardship emanating from their operational hazards.
