Answer:
c. drafting a contract illegally.
Explanation:
In the contracting process, a licensee must be careful to drafting a contract illegally. The licensee can be defined as an individual or group of people holding a license given to them by an authority or authorized agencies, to engage legally in an activity.
Hence, it is required by law that whatever the licensee does after the acquisition of a license must be legal and not a violation of standard rules, and policies of the state or society. Licensee are to abide by the terms and conditions of the license.
Answer:
The Journal entry is as follows:
Land A/c Dr. $400,850
To Cash A/c $100,850
To Notes payable $300,000
(To record purchase of land with cash and notes payable)
Workings:
Purchase price of land = $392,000
Total cost of land:
= Purchase price of land + Property taxes + Title insurance + Removal of building
= $392,000 + $2,100 + $950 + $5,800
= $400,850
Answer:
Standard hours= 1,200 hours
Explanation:
Giving the following information:
XYZ Corporation's standards call for 1,000 direct labor-hours to produce 250 units of product.
During October the company worked produced 300 units.
<u>First, we need to calculate the standard hour per unit:</u>
Standard hour per unit= 1,000 / 250= 4 hours per unit
Now, the standard hours allowed for 300 units:
Standard hours= standard hour per unit*number of units
Standard hours= 4*300
Standard hours= 1,200 hours
Answer:
E. He is not accounting for the new consumers who will benefit from being able to consume the product.
Explanation:
With the increase in price of product, Demand equals Supply i.e., no shortage exists in the market. Thus, the equilibrium level is achieved at price of $ 10. Further, The most important advantage of increasing the price in the given question is that shortage which exists earlier no longer remains now which will benefit all the consumers including some new consumers as they will able to get the sufficient number of quantities of product for the consumption now. Financial Head of Firm is ignoring the new consumers who will benefit from able to consume the product.
Therefore, He is not accounting for the new consumers who will benefit from able to consume the product.
