Answer:discharge by frustration of purpose
Explanation:
Discharge by frustration of purpose is a defense concept used in law in order to bring about a breach or termination of a contract.This occurs when unplanned,spontaneous or unforeseen circumstances occurs and thus,it prohibits or prevents the core reason in which the contract was being entered into at the time of the contracts agreement,with both parties fully aware of the core reason which brought about the establishment of the contract.That is to say,the primary objective in which the contract was being created upon has automatically brought about a halt of the secondary reason(which is the contract itself),having in mind that both parties were originally aware of the primary reason for entering the contract.
Here,Paul and Patti Smith rented a room an amount triple it's original price because they were so excited to hear Lincoln speak. A day before Lincoln's speech, he was assassinated.So this disappointment brought about a "discharge by frustration of purpose" by the Smiths,not forgetting that that The bed and breakfast knew it was their original intent,that's why they paid such exorbitant prices for the room rental,although it sued them.
Answer:
Yes, Ryan Frazier is behaving in a professional manner.
Explanation:
Yes, Ryan Frazier is behaving in a ethical and professional manner because the company is following FOB point method when shipping goods it customers due to the fact that Ryan Frazier, controller of Anstead Co., has suggested that all orders received before the end of the fiscal year be shipped by midnight as the company follows merchandise FOB shipping points the company should go ahead and record the sales in the current year Octocber 31st due to the fact that FOB shipping point means that the buyer pays all cost incurred for the delivery of the goods once the goods has left the suppliers warehouse which makes the buyer to becomes the owner of the goods in transit when the goods are been shipped by the seller.
There is a great deal of difference in interest rates between _______.
Answer: Out of all the options presented above the one that completes the statement above is answer choice C) excellent and poor credit ratings. The higher credit score you have the lower interest rates you will have to pay and the lower the credit score the higher interest.
I hope it helps, Regards.
Answer:
c)accrual basis accounting
Explanation:
Accruals basis accounting (accruals accounting, the matching concept) depicts the effects of transactions and other events and circumstances on a reporting entity’s economic resources and claims in the periods in which those effects occur, even if the resulting cash receipts or payments occur in a different period.
In accrual basis accounting:
Revenue from sales and other income should be reported in the period when the income arises (which might not be the same as the period when the cash is received from the customer / client).
The cost of sales in the statement of comprehensive income must be matched with the sales. Income and ‘matching’ expenses must be reported in the same financial period. In other words, when the revenue is recognised from sale then the cost must also be recognised in the similar accounting period.
Other expenses should be charged in the period to which they relate, not the period in which they are paid for.
So based on the above discussion, the answer is c)accrual basis accounting
The accounting period is also referred to as reporting period. It is the time period for which a company or organization make reports about its financial performance and financial results.
Calendar year is the accounting period that follows the regular calendar year, from January to December.
Accounting period is the general term that describes accounting periods.
Fiscal year or financial year is the general term used to describe an annual accounting period.
Accounting cycle on the other hand is the process of making the financial reports.
According to these definitions,
<span>he 12-month period a business chooses for its accounting period is a fiscal year.</span>
