Answer:
Opportunity cost
Explanation:
Opportunity cost is the sacrificed benefits in decision making. Making a decision involves selecting one option from several choices. The forfeited advantage from the next best alternative is the opportunity cost.
Monica has chosen to join college. She has sacrificed her job at the supermarket to make time for college. Her forfeited weekly pay from her job is the opportunity cost for joining college.
Answer:
The driving forces in an industry are: Option C: major underlying causes of change in industry and competitive conditions and have the biggest influences in reshaping the industry landscape and altering competitive conditions.
Explanation:
Driving force of any organization can be external or internal forces. External ones are like the competitors, profits or technology. Internal forces can be the knowledge of employees, office politics and even competence of all office people). All these factors influence the industries and help them shape the future of an organization.
Thus, Option C is the most appropriate driving force because it causes change in industry and create competition among industries and reshape the industry landscape.
Answer and Explanation:
The Journal entries are shown below:-
a. Accounts receivable Dr, $2,000
To Service revenue $2,000
(Being service revenue is recorded)
b. Wages expenses Dr, $1,000
To Wages payable $1,000
(Being wage expenses is recorded)
c. Interest expenses Dr, $400
To Interest payable $400
(Being interest expenses is recorded)
d. Lawn service expenses $500
To Accounts payable $500
(Being lawn service expenses is recorded)
e. Interest receivable $200
To Interest revenue $200
(Being interest revenue is recorded)
f. Salaries expenses $900
Salaries payable $900
(Being salary expenses is recorded)
The amount of an earnest deposit is determined by:Agreement between the partiesThe term rescind means:CancelEvery real estate contract must have:Offer & AcceptanceBroker took listing and later found out client is legally incompetent. Listing is now:Of no value to broker, VOIDAfter buyer & seller sign sales contract, seller changes mind and defaults. Buyer sues seller to force contract. This is know as a suit for:Specific PerformanceOfferee has right to:reject offerStatue of Frauds states all contracts:must be in writing to be enforceable<span>Broker receives earnest money on Tuesday.
Seller accepts offer on Thursday.
When does Broker need to deposit earnest money?</span>By Friday in special non interest bearing trust account.Void contract:Not legally enforceable.Legal proceeding or legal action brought by either buyer or seller under a purchase contract to enforce the terms of the contract is known asSuit for specific performanceEssential elements of a contract do not need:notarized signaturesUpon receipt of offer to purchase property under certain conditions, seller makes counter offer, the buyer is:relieved of original offerBuyer defaulted some time ago on a written contract to purchase sellers real estate. Can seller sue for damages?Yes, if seller is not prohibited from doing so by statute of limitations.What is best evidence of buyers intention to carry out terms of contract?earnest money depositReal Estate Licensee may draft a contract:NEVER, licensee can only fill in blanks.An option:keeps an offer open for a specified time period.Prospective buyer makes a written purchase offer that the seller accepts, then:buyer receives equitable title to the propertyBilateral contract:promise for a promiseLaw that requires real estate contracts to be in writing to be enforceable:Statute of FraudsOwner takes property off market for definite period of time in exchange for some consideration, but grants right to purchase property within that period for a state price this is calledOptionBreach of contract is a refusal or failure to comply with terms of contract, buyer may:<span>Sue seller for specific performance
Rescind contract and recover earnest money
Sue seller for damages</span>To assign a contract for the sale of real estate means to:transfer ones rights under the contractBroker gets offer to purchase, seller out of town, broker must:wait to obtain the signature of the seller to effect the contractIn option to purchase real estate, optionee:has no obligation to purchase the propertyBuyer has right to revoke offer at any time and recover earnest money until:offer is acceptedSeller said empty lot soil was firm enough to support new construction, seller knew building would probably sink. Contract is:Voidable by buyer because of fraud.Contract agreed to under duress:VOIDABLEContract becomes valid when:both buyer and seller signRevocation of offer before acceptance, death of offeror before acceptance, counteroffer by offeree:terminate offerBroker deposits earnest money int trust account. When can seller receive it?At time of settlementWhat is the status of an option contract that has been exercised?BilateralDestruction of the premises would:terminate sales contractIL deed or contract executed on Sunday or legal holiday is:VALID and enforceableHow must real estate contracts be headed under IL law?<span>REAL ESTATE SALES CONTRACT
Bigger font than rest of contract</span>Both parties sign sales contract. Three days before closing tornado destroys property. Under IL law:<span>Seller cannot enforce contract and must return all earnest money to the buyer.</span>
Answer:
The effect of increasing the money supply on inflation.
Explanation:
