1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alex
3 years ago
10

6. On February 1, Ann sends Bob a letter offering to employ Bob at Ann’s auto dealership. On February 5, Bob mails Ann a letter

accepting the offer. On February 6, Ann has a change of heart and calls Bob to revoke the offer. On February 7, Ann receives Bob’s acceptance. Was a contract ever formed? If so, when? If not, why not?
Business
1 answer:
Radda [10]3 years ago
6 0

Answer: A Contract was formed on February 5th

Explanation:

The contract was formed the very day that Bob mailed Ann his acceptance which was on the 5th of February.

Ann attempted to revoke the acceptance too late as she did it a day after he had emailed his acceptance even though she only received it on the 7th.

The date she received the acceptance is of no consequence because this falls under the Posting Rule. This rule in Common Law countries essentially states an agreement is made as soon as the letter is posted even if it never gets to it's destination.

You might be interested in
What a primary cause of inflation​
lesantik [10]

Excess aggregate demand (AD)

Quick economic growth.

5 0
3 years ago
Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31,
Soloha48 [4]

Answer:

Answer for the question:

Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $122 $112 $97 $92 $112 $92 Cost 77 82 82 82 51 37 Cost to complete 31 31 26 36 31 31 Selling costs 10 18 10 20 10 20 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above.

is given in the attachment.

Explanation:

Download pdf
3 0
3 years ago
Who were some of the first big business capitalists in America?
irina [24]

Answer:

Railroads were the first "big businesses" in the United States.

Explanation:

8 0
3 years ago
Which of the following is a mutually exclusive cost pool used in activity-based cost accounting? a. All of the answers are corre
VikaD [51]

Answer:

The correct answer is A: All of the answer are correct

Explanation:

ABC defines production as consisting of a variety of activities, and it assigns costs to those activities. An activity cost pool is an aggregate of all the costs associated with performing a particular business task, such as making a particular product. By pooling all costs incurred in a particular task, it is simpler to get an accurate estimate of the cost of that task.

Cost pool is created for those costs more closely aligned with the production of goods or services. It is very common to have separate cost pools for each product line. If production batches are of greatly varying lengths, then it has to consider creating cost pools at the batch level, so that it can adequately assign costs based on batch size.

To conclude, the creation of a cost pool and the subsequent assignment of costs will vary according to the length of production and the possibility to discriminate and assign costs.

4 0
3 years ago
A company's common stock shares are expected to bring a 13 % return to their investors in case of "recession" state of the econo
Ludmilka [50]

Answer:

The expected rate of return is 8.65%

Explanation:

The expected return on a stock can be calculated by multiplying the return in each scenario by the probability of that scenario. This will provide the expected value of the return based on all these scenarios. Thus, the rate of return is,

Rate of return = rA * pA + rB * pB + rC * pC

Where,

  • r represents the return in each scenario
  • p represents the probability of each scenario

The probability of normal state is = 1 - 0.45 - 0.05  =  0.5

Rate of return = 0.13 * 0.45 + 0.06 * 0.5  + (-0.04) * 0.05

Rate of return = 0.0865 or 8.65%

3 0
3 years ago
Other questions:
  • Because public goods are:
    14·1 answer
  • When launching any technology product, a firm such as GoPro must create a balance between what is technically possible and wheth
    14·1 answer
  • Difference between uninsurable and insurable risks
    15·2 answers
  • Many of the toys sold in the United States are imported from Taiwan because the Taiwanese can produce these products more effici
    10·1 answer
  • 6. Taxpayer ("T") a 59 year-old calendar year individual taxpayer purchased an annuity from an insurance company for $100,000 in
    15·1 answer
  • Homeowners insurance provides what two basic types of coverage?
    9·2 answers
  • you are forming a new company that delivers food to residents across college campuses. the primary focus is
    6·1 answer
  • Ruggles Circuit Company manufactures circuit boards for other firms. Management is attempting to search for ways to reduce manuf
    9·1 answer
  • Say you own an asset that had a total return last year of 11.7 percent. If the inflation rate last year was 6.9 percent, what wa
    13·1 answer
  • Employees who record and are paid for the exact amount or time spent working are paid on
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!