The answer here is incoterms are standardized
international terminologies. Incoterms which is the short term for “international
commercial terms” are made so that there is an easier way for which the traders
in the international trade can understand each other. These are trade terms by
the International Chamber of Commerce (ICC) which are used by both
international and domestic trade contracts. In 1936, these terms were first
used and from time to time, these incoterms are updated especially in the
current trade practices. Due to the updates every now and then, contracts must
then be specified as to what version of incoterms are they using.
Answer:
$405,000
Explanation:
The computation of the ending inventory reported is shown below:
Inventory on December 31,2018 $325,000
Add: Goods purchased from a vendor i.e shipping point $30,000
Add: Goods sold FOB destination to customer $38,000
Add: consignment by Brecht Inc $12,000
Ending inventory reported $405,000
In the above cases, the added items indicates the ownership is transferred to buyer , received by buyer and remains with the buyer
Answer:
Unilateral contract
Explanation:
A unilateral contract is one which is agreed to based on the performance of one party.
Simply put, a unilateral contract in one in which there is agreement based on performance.
From the above question, the carpenters performance determines the contract. If he fixes the job within Saturday, he gets $1,000. If he doesn't finish within saturday, the carpenter doesn't get $1,000. The 'saturday' is the conditon for the payment of $1,000.
Answer:
there are a large number of people working in the underground economy.
Explanation:
The unemployment rate is the rate of people in the labour force that is without a job but they are actively looking for employment
Types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
If a large number of people are working underground, they would not be counted as part of the labour force and so the labour force would be smaller. This understates unemployment rate
Answer:
Technological advances such as computers, crock pots, and bread makers have increased household's efficiency in producing many goods.
Explanation:
With the advances in technology, almost every process has become less time-consuming and more convenient. Most people go for one one-time solution for getting the job done. For example, a lot of households have invested in specialized machinery such as bread makers, juicers, etc so they don't have to outsource simplest of things. Moreover, this is less costly as getting things done from elsewhere involves taxes.
