Answer:
B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.
Explanation:
In order for a contract to be enforceable, consideration must be exchanged between both parties. In this case, Kim made a promise that included consideration ($3,500) but Gold didn't exchange of give anything back. The swimming pool is already finished and it represents another different contract.
Another example would be a boss telling a subordinate that he/she will receive a bonus for having worked 10 years in the firm. The employee already got paid for working the 10 years, so there is no actual exchange of new consideration.
Answer:
Supplier dependence
Explanation:
When an entity finds itself in a situation where it has to rely on a particular supplier or provider of service for its business operations, either as a result of not being able to get an alternative supplier or the importance of the suppliers product to the entity, such is called supplier dependence.
It is very risky for an entity to depend on a particular source for input. This reverse order of an entity depending on the supplier for business strategy instead of the supplier depending on the entity is not a good business practice.
It’s easy for our own strategy to be determined by what our suppliers are doing. If we become too dependent, we risk having our strategy set by our suppliers rather than having them support our strategy. I’ve been thinking a lot here recently about how much suppliers can direct you
This is false abandonment options should decrease a project's risk.
Answer:
Fixed costs = $13,000
Variable costs = $450,000
Explanation:
Fixed costs are costs that do not vary with production. In this question, they are rent payments and monthly payments on meat packaging equipment.
Fixed cost = $10,000 + $3,000 = $13,000
Variable costs are costs that vary with production. In this question, they are the cost of purchase of raw meat, wages and fuel costs.
Variable costs = ($20 + $90 + $40) × 3000 = $450,000
I hope my answer helps you.
