The contract between Timmy and Jennifer is not valid for legal claims because there are no ways to prove the terms they agreed to for the sale/purchase of the car.
<h3>What is a valid contract?</h3>
When we enter into an agreement with another person to carry out any commercial activity, we generally must create a document in which all the terms and conditions of the contract are established in order to bind both parties to comply with the contract.
If another type of contract is made, for example by telephone, spoken or other modality that does not have ways of verifying what was agreed, it can be considered as invalid contracts.
Based on the above, the contract that Jennifer made with Timmy over the phone is invalid because there is no way to check what they agreed to.
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Answer:
If Solemon wants to earn a targeted profit of $3,600, the number of units must be sold are 9,300 units.
Explanation:
In Solemon Company:
Contribution margin per unit = Sales price – Variable cost per unit = $8-$6=$2
The number of units must be sold to meet the target profit figure are calculated by using following formula:
The number of units must be sold = (Total fixed cost + Targeted profit) / Contribution margin per unit.
In there: Total fixed cost are $15,000
Targeted profit are $3,600
The number of units must be sold = ($15,000 + $3,600)/$2 = $18,600/$2 = 9,300 units.
Answer:
A. It must show a surplus in its capital account.
Explanation:
A deficit can be defined as an amount by which money, falls short of its expected value.
In Financial accounting, deficit is usually as a result of revenue falling below expenses or expense exceeding revenue at a specific period of time.
For instance, if in a country liabilities exceeds assets or import exceeds export there would be a deficit in the financial account of the country.
Generally, a deficit on the current account of a country leads to a surplus on the financial and capital account. This is simply as a result of a country having to import more goods and services than it is exporting to other countries in trade.
Hence, if a country has a current account deficit, it must show a surplus in its capital account.
In conclusion, a deficit on the current account is because the value of goods and services exported is lower than the value of goods and services being imported in a particular country.
Answer:
C, a debt service fund
Explanation:
A debt service fund is is a cash reserve that is used to pay for some principals and interests on some debts.
A debt service fund is calculated by dividing the net operating income by the debt.
In the case of the question, the premium of the fire station capital projects funds should be transferred to the debt service fund because should the contruction work not have enough fund to continue it, the premium will be used to continue and complete the construction work.
Cheers.
Answer:
The managers need to understand the importance of data due to the fact that this one affects to the decision making process.
Explanation:
On one hand, the data is the source of the information itself, the data could be good or bad depending on the type of information that a person is trying to get, therefore that a good compilation of data will impact in realiable information. Furthermore, trustfull information means that the decision that needs to be taken will be mostly good because the information is complete and trustfull and therefore the uncertainty will decrease.
On the other hand, the information is the principle and most important resource of a manager due to the fact that decisions are made in a context where the person has o has not enough information to a make a good call. Therefore that leaders need to understand how the data works and how this affect the decision making process.