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3 years ago

An agreement to settle a debt for less than the sum claimed is referred to as?

1 answer:

fomenos3 years ago

7 0

An agreement to settle a debt for less than is owed is called an Accord and Satisfaction. this is because the accord is the original debt, and the term for the re-structured settlement. The satisfaction is the actual payment of that debt. Therefore, accord and satisfaction could be re-written as new agreement and payment.

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Perez, in recently completed 56,000 units of a product that was expected to consume four pounds of direct material per finished

rjkz [21]

Answer:

Direct material quantity variance= $34,000 unfavorable

Explanation:

Giving the following information:

Standard direct material pounds per unit= 4 pounds

The standard price of the direct material was $8.50 per pound.

The firm purchased and consumed 228,000 pounds in manufacturing 56,000 units.

To calculate the direct material quantity variance, we need to use the following formula:

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (56,000*4 -228,000)*8.5

Direct material quantity variance= (224,000 - 228,000)*8.5

Direct material quantity variance= $34,000 unfavorable

7 0

3 years ago

Congratulations, you are a millionaire. No, the Delaware Lottery office did not call. However, an officer from Bank of America h

nevsk [136]

Part A

Answer:

$207,021

Explanation:

The balance on the account at the end of the year 2020 is $1,000,000

The question asks us to calculate the balance on the account at the end of the year 1970, which is exactly 50 years ago.

We would simply discount the $1,000,000 by using an interest rate of 3.2%

$PV_{1970}$ = $\frac{1000000}{(1 + 0.032)^{50} }$ = $207,021

Part B

Answer:

$17,892.88

Explanation:

We have the value at year 1970 which is $207,021

Now to calculate the annual payment (PMT) we would plug the following values in the financial calculator,

PV = 0

N = 10

FV =207021

I/Y = 3.2

PMT = ?

PMT = $17,892.88

https://www.calculator.net/finance-calculator.html?ctype=contributeamount&ctargetamountv=207021&cyearsv=10&cstartingprinciplev=0&cinterestratev=3.2&ccontributeamountv=1000&ciadditionat1=end&printit=0&x=102&y=11

4 0

3 years ago

When a case is appealed, the court of appeals decides the case solely based upon?

finlep [7]

Question of law, also known as point of law. It is a question that must be answered by applying relevant legal principles to interpretation of the law. Answers to questions of law are normally expressed in broad legal principles and can be applied to many situations rather than particular circumstances or factual situations.

3 0

3 years ago

What could be two reasons why the data might not support the hypothesis?

Degger [83]

Below are the two reasons why the data might not support the hypothesis:

1) The hypothesis was wrong
2) The data is wrong

A hypothesis is a proposed thought that may clarify a perception or marvels. It is confirmed by testing it. In the event that the information bolsters the theory, at that point, we view the speculation as checked and genuine. Assuming, be that as it may, the information does not bolster the speculation or discredits it, at that point the theory is in a bad position, and we need to concoct an alternate speculation to clarify the perceptions.

7 0

3 years ago

In preparing a statement of cash flows under the indirect method, a decrease in accounts receivable would be reported as a(n): M

denpristay [2]

Answer:Addition to net income in the operating activities section

Explanation:

8 0

2 years ago