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3 years ago

An offer to enter into a contract can be terminated by

1 answer:

6 0

Offer is a definite undertaking or proposal made by one person to another indicating a willingness to enter into a contract. The offer must be communicated to the offeree and must be <span>sufficiently definite and certain.</span>
An offer to enter into a contract can be terminated by lapse of time, r<span>evocation ,
counteroffer, rejection, death or incompetency of the offeror or offeree, destruction of the subject. </span>

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The break-even point is a.the maximum possible operating loss. b.where the total sales line intersects the total costs line on a

Alisiya [41]

Answer:

The answer is B.

Explanation:

To a layman, break-even point is the point where an entity neither make profit nor loss. It is the point where total revenue equals total cost(where the total sales line intersects the total costs line on a cost-volume-profit chart).

Points greater or above this intersection or point mean the firm is making profit and points lesser or below this intersection or point mean the firm is making loss.

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3 years ago

Blythe Corp. is a defendant in a lawsuit. Blythe's attorneys believe it is reasonably possible that the suit will require Blythe

8090 [49]

Answer:

The entry is not required because the outcome is reasonably possible, not certain or probable. So IAS 37 says that the liability must not be recognized as the outcome is not reasonably certain or probable.

Explanation:

The liability must be included in the financial statement only if the outcome is certain or probable. In this scenario, the outcome is reasonably possible but neither certain nor probable in this situation. So the entry in the financial statement is not required. If the liability is of a huge amount then IAS 37 says that their must be a disclosure in the financial statement notes about the lawsuit.

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3 years ago

Read 2 more answers

1 points Item 5Item 5 1 points Sam, Alfredo, and Juan want to start a small U.S. business. Juan will fund the venture but wants

8090 [49]

Limited partnership form of business entity should these individuals adopt.

Explanation:

A Limited Partnership is a common partner that has unlimited personal liability to the company's assets and commitments and a joint partner that has limited liability but does not share in the management process. a Limited Partnership is a limited partner.

Most states allow a professional license in a specified area for every LLP participant. As a result, relationships with doctors, judges, accountants, engineers, financial advisors certified, vet and business owners typically include lLPs. Currently attorneys and accountants are approved for LLPs in California.

8 0

3 years ago

Emily Corporation purchased all of Ace Company's common stock on January 1, 2020, for $1,000,000 cash. The investee's stockholde

Reika [66]

Answer:

$ 1,125,000

Explanation:

Calculation for the amount of Equity Income that Emily will record

First step is to find the Net equity income using this formula

Net equity income= Net income +Dividends

Let plug in the formula

Net equity income=$250,000+$25,000

Net equity income=$225,000

Second step is to find the balance of investment using this formula

Balance of investment= (Common stock + Net equity income )- Amortization of unrecorded patent

Let plug in the formula

Balance of investment =($1,000,000+$225,000 )-($600,000/6)

Balance of investment=$1,225,000-$100,000

Balance of investment = $ 1,125,000

Therefore the amount of Equity Income that Emily will record will be $ 1,125,000

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3 years ago

A company has net credit sales of $1,200,000, beginning net accounts receivable of $290,000, and ending net accounts receivabl

7nadin3 [17]

Answer:

Days of receivable will be 75 days

Explanation:

We have given net credit sales = $1200000

Net account receivable at the beginning = $290000

And receivable at the ending = $201000

Average receivable $=\frac{290000+201000}{2}=$245500$

Now receivables turnover ratio $=\frac{credit\ sales}{average\ receivable}=\frac{1200000}{245500}=4.888$

Days of receivables = $\frac{365}{4.888}=74.67=75days$

8 0

3 years ago