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vfiekz [6]
3 years ago
9

Jane: "I'll pay you $50 if you will clean my windows." Al: "I'll do it for $75." Jane: "$65 and it's a deal." Al: "No way." Jane

: "Too late. We have a contract." Which of the following statements is true? a. There is a contract to clean the windows for $75. b. There is a contract to clean the windows for $65. c. There is no contract. d. Jane is correct, there is a contract.
Business
1 answer:
Harlamova29_29 [7]3 years ago
7 0

Answer:

c. There is no contract.

Explanation:

For a contract to be valid there has to be a offer and acceptance. In the question there was no offer that was accepted. Let us go through the conversation;

Jane made an offer of $50

Al did no accept, instead he made an offer of $75

Jane did not accept Al's offer instead she made an offer of $65. To this offer Al said "No way" meaning he did not accept.

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Burka [1]

D. Monthly payments

8 0
3 years ago
In the preparation of departmental income statements, the preparer completes the following steps in the following order: (1 poin
olasank [31]

Answer:

The correct answer is a. Identify direct expenses; allocate indirect expenses; allocate service department expenses.

Explanation:

Selling costs are the costs incurred by a company to market the products or services, such as the salary of the sellers, commissions, gasoline of the trucks that distribute the orders, advertising, etc. Administrative expenses are the costs incurred by a company to manage its operations. Examples of these expenses would be the salary of the accountant, the surveillance expenses, the expenses for the cleaning service, stationery, salaries and benefits of the administrative staff of the company, etc. Some concepts can be shared, such as office rent. If there are sales and administration departments in the same building; The total expenditure must be applied to the two departments according to the space each of them uses (square meters) or at an estimated percentage; for the  therefore, of the total rent one part would be selling expenses and another part administration expenses.

3 0
3 years ago
Toys-r-us is almost finished building a new store and will soon be having a grand opening celebration. management wants to build
drek231 [11]

Toys r us, the toy shop has always stood out in its advertising campaigns, using all conventional social networks, and paying to do the most original ads, spaces like Instagram, Twitter and Facebook are some of the social networking they would be using to show their potential customers the progress of the new store, but that does not end there, they will also invest big amounts of money in screens "Etch a Sketch" in bus stops, and vans promoting their new opening and inviting everyone to the big event.  
3 0
3 years ago
The following situations suggest a strength or a weakness in internal control. Identify each as a strength or weakness​, and giv
Mkey [24]

Answer: Options A and C are strengths while options B and D are weaknesses. See explanation below.

Explanation:

a. All employees must take at least five consecutive days off each year.

This is a strength in internal control. This would help to maintain stability in operational process and ensure leave days are effectively utilized. It also prevents staff from taking the leave days in piecemeal and sporadic manner thereby disrupting the operational process and causing team instability. It is also used to ensure leave days are promptly utilised and well accounted for.

b. The accounting department orders merchandise and approves invoices for payment.

This is a weakness in internal control. There should be a check and balance in this regard. In some organizations, proper scrutiny of the vendor and invoice is done by the Procurement Unit and the Expense Control Unit respectively. Even within the accounting department, there is approval hierarchy. Also, the unit within accounting department that is making the order should not be the one to approve the transaction.

c. Cash received over the counter is controlled by the sales​ clerk, who rings up the sale and places the cash in the register. The daily sales are recorded in the accounting records by the accounting department.

This is a strength in internal control as it ensures checks and balances. Fraud and error can be detected through this means. The accounting department should verify the transactions to the relevant supporting document before recording the transaction in the system.

d. The officer who signs checks need not examine the payment packet because he is confident the amounts are correct.

This is a weakness in internal control in the sense that checks signed by the officer is binding in the court of law. The officer cannot claim ignorance if anything goes wrong. There is therefore a need for proper scrutiny and relevant questions asked before checks are signed.

7 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
notka56 [123]

Answer:

Doubtful

Explanation:

The company will record the uncollectible $5,670 of its accounts receivable as a debit to uncollectible accounts expense and a credit to the DOUBTFUL account.

This is evident in the fact that the bad debt allowance method has three main principles which are:

1. Calculate uncollectible receivables

2. Debit bad debt expense and credit allowance for doubtful accounts in the journal entry

3. Debit allowance for doubtful accounts and credit the corresponding receivables account when it is time to write off the account.

8 0
3 years ago
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