Answer:
Option B.
Explanation:
An executory contract is one in which unperformed obligations remain on both sides, or one where both parties in a contract have continuing obligations to perform. Therefore is a contract that is made by two parties in which the terms in the contract are to be fulfilled at a later date. The contract shows that both sides still have duties to perform before it will become executed.
For example, contracts for the sale of goods in which the goods have not been delivered by the seller and the buyer has not paid, are executory contracts.
Therefore, as we can see from the scenario above, the contract is executory because, although Hong has replaced the tire, Francie is yet to pay, therefore, Francie has not performed her pert in the contract, making it an executory contract.
Answer:
0.09 or 9%
Explanation:
This question has some irregularities. The correct question should be :
Elinore is asked to invest $4,900 in a friend's business with the promise that the friend will repay $5,390 in one year's time. Elinore finds her best alternative to this investment, with similar risk, is one that will pay her $ 5,341 in one year's time. U.S. securities of similar term offer a rate of return of 7%. What is the opportunity cost of capital in this case?
Solution
Given from the question
Investment (I) = $4,900
Return on investment (ROI) in one year = $5,341
Rate or opportunity cost of capital r is given by
ROI = I × (1 + r)
input the given data
$5,341 = $4,900 (1 + r)
$5,341 = $4,900 + $4,900r
$5,341 - $4,900 = $4,900r
r = ($5,341 - $4,900) / $4,900
r = 0.09
Or 9% in percentage
The main point of attending college is to have a degree and to attain a job. Most people who already have a job doesn't want to go to college anymore because of the fact that they are already earning money. But, the statement you have given is possible and is also TRUE.
Answer:
b) target markets change over time as consumers drop in or out of the market, and as tastes change.
Explanation:
A target market refers to the customers around whom the marketing efforts are made. These customers are the available market for the business to extend their service to. Such customers possess characteristics similar to each other and are assumed to provide their support to the company. The company too finds the services provided to these customers to be the most profitable area.
Answer:
The journal entry is as follows:
Cash A/c Dr. $12,400
Accumulated Depreciation - Equipment A/c Dr. $21,900
Loss on sale of equipment A/c Dr. $4,700
To Equipment $39,000
(To record the sale)
Working notes:
Accumulated Depreciation - Equipment:
= [(Cost of tractor - Residual value) ÷ Service life] × No. of years
= [(39,000 - 2,500) ÷ 5] × 3
= $21,900
