Answer:
An implied agreement is based on a formal agreement.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.
This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.
Answer:
$781.99
Explanation:
The price of the bond can be computed using excel pv function given below:
=-pv(rate,nper,pmt,fv)
rate is the semiannual yield to maturity i.e11%*6/12=5.5%
nper is the number of semiannual coupons the bond would i.e 30 semiannual coupons in 15 years
pmt is the amount of semiannual coupon=$1000*8%*6/12=$40
fv is the face value of $1000
=-pv(5.5%,30,40,1000)=$781.99
Answer:
Thomas capital
Equipment $30,000
Inventory 25,000
Cash <u> 45,000</u>
Total <u> 100,000</u>
Explanation:
Equipment : thebook value is $25,000 while the market value is $30,000. the market value of the equipment will be used.
Inventory : the book value is $50,000 while the market value is $25,000. As a result of obsolescence, the inventory will be value at lower of cost and net realizable value(IAS2). therefore, $25,000 will be recognized for the inventory in the determination of Thomas capital
Cash: there is no changes in cash contributed.
Answer: a. 2
b. $200
c. Should not
Explanation:
a. The new employee's marginal product of labor is ______.
This will be:
= 5 - 3
= 2 moving jobs
b. The value of that marginal product is ______..
Since the company charges $100 for a moving job, the value of the marginal product will be:
= 2 × $100
= $200
c. The moving service should moving jobs ______- hire another worker
Marginal cost of moving 2 jobs will be:
= $30 × 4 × 2
= $240
Since the marginal cost is more than the marginal product, the company should not hire another worker.
