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Anvisha [2.4K]
3 years ago
7

Francie drives into Gage’s Auto Service and asks Hong, a Gage’s employee, to replace a tire on Francie’s car. After Hong replace

s the tire, but before Francie pays for it, any contract between Francie and Gage’s is
Business
1 answer:
marusya05 [52]3 years ago
8 0

Answer:

Executory contract

Explanation:

An executory contract is an agreement between two or more individuals where the obligation of each will be performed at a later date or time. In an executory contract, the promises specified in the agreement are not fulfilled immediately.  A contract is executory if both parties are an agreement, but none of them have fulfilled their obligations.

Francie and Gage were in an executory contract when Gage agreed to change the tire.  Francie did not pay for the service of the spot.  Changing a tire takes some time, and as such, Gage did not perform his obligation instantly. Before each could fulfill their obligations, the contract was executory.

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Superior has provided the following information for its recent year of operation:
Anika [276]

Answer:

Option (a) is correct.

Explanation:

Given that,

Beginning balance of Retained Earnings = $75,000

Net income = $26,000

Ending retained earnings = $91,000

Total Balance during the year:

= Beginning balance of Retained Earnings + Net income

= $75,000 + $26,000

= $101,000

Dividend declared:

= Total Balance during the year - Ending retained earnings

= $101,000 - $91,000

= $10,000

Therefore, the amount of dividend declared by the Superior during its recent year of operation is $10,000.

3 0
3 years ago
Which of the following is not one of the four basic financial statements?
TEA [102]

Answer:

A revenue statement is not a basic financial statement.

5 0
3 years ago
Veronica works in the purchasing department for Medical Center Hospital. She buys gloves, masks, and protective gear from Johnso
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<u>C.</u> Satisficer

<h3><u>What is a satisficer?</u></h3>

A decision-making method called satisficing aims for a satisfactory or adequate outcome rather than the best one. Satisficing concentrates on practical effort when faced with tasks rather than exerting maximal effort to achieve the ideal result. This is due to the possibility that pursuing the ideal outcome will result in an unnecessary drain on time, effort, and resources. In order to achieve the first feasible solution that yields minimally acceptable results, the satisficing strategy can involve taking a minimalistic approach. Satisficing reduces the range of options that are taken into account to obtain those objectives, eliminating alternatives that would necessitate more demanding, complicated, or impractical efforts in an effort to produce more ideal outcomes.

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2 years ago
The key decisions and plans in corporate strategy address: What business are we in and how will we allocate resources among thes
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The Jabba Corporation manufactures the "Snack Buster" which consists of a wooden snack chip bowl with an attached porcelain dip
Masja [62]

Answer:

The fixed overhead cost that can be eliminated if the bowls are purchased from an outside supplier is a relevant cost. The variable selling cost of the snack is also a relevant cost.

The correct answer is A

Explanation:

Relevant costs are costs that relate to future decisions. All variable costs are relevant for decision-making. Eliminated fixed overhead are also relevant for decision-making.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

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