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nikdorinn [45]
3 years ago
11

Collins offers to sell to Phillip an antique chest of drawers worth more than $2,500. Philip agrees to buy the chest an signs a

contract for the purchase. The price of the chest, however is left out of the contract. Collins and Philip have:
a. A valid contract s long as the court can determining a reasonable price at the time for delivery
b. A valid contract only is Collins refuses to name a price
c. No contract, because parties cannot leave the price term out of a valid contract under the Uniform Commercial Code (UCC)
d. A valid contract only if Phillip is able to produce evidence that Collins defrauded him
Business
1 answer:
hram777 [196]3 years ago
6 0

Answer:

A. A valid contract s long as the court can determining a reasonable price at the time for delivery

Explanation:

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Hemingway Corporation has 100,000 shares of common stock issued and outstanding. At the meeting of the board of directors on Dec
DaniilM [7]

Answer:

See the journal entry below

Explanation:

Retained earnings A/c Dr $500,000

Dividends payable A/c Cr $500,000

Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.

NB.

Amount = Share × Price per share

Given that;

Share = 100,000

Price per share = $5

Amount

= 100,000 × $5

= $500,000

4 0
3 years ago
People who are unemployed because wages are, for some reason, set above the level that brings labor supply and demand into equil
Alik [6]

Answer: structurally unemployed

Explanation: The structurally unemployed are people who are unemployed because wages are, for some reason, set above the level that brings labor supply and demand into equilibrium. This translates to a mismatch between the jobs available and the skill levels of unemployed workers i.e., the skills unemployed workers have do not match the skills needed or required by employers which often are higher paying. Structural unemployment is caused by forces such as technological advancements, trade agreements etc. Typically it occurs when an underlying shift in the economy makes it difficult for some group of workers to obtain jobs.

3 0
3 years ago
Mary spends $5 on food for her cat. This is an example of a: a. household buying goods and services in the factor market. b. hou
german

Answer:

household buying goods and services in the product market

Explanation:

The product market is where final goods and services are sold to households and firms.

The factor market is where factors of production are exchanged.

Mary is buying food for her cat. There are no indications that Mary is a business and that the food is a factor of production. Therefore, Mary is an household and she's purchasing from the product market.

I hope my answer helps you

8 0
2 years ago
When the price of hot dogs decreases, what happens in the market for the complementary good of hot dog buns?.
NikAS [45]
I’m pretty sure it’s that the market for complementary goods increase
7 0
1 year ago
An airline has a marginal cost per passenger of $20 on a route from Minneapolis to Dallas. At the same time, the typical fare ch
luda_lava [24]

Answer:

The fixed costs are too high. The marginal cost generally represents variable costs and they might be very low, but if the fixed costs are simply too high, they will need to increase the price of the plane tickets in order to break even. The break even formula is calculated by dividing total fixed costs by marginal revenue (selling price - variable costs).

3 0
3 years ago
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