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
Yakvenalex [24]
3 years ago
9

Flo enters into a contract with Global Shipping Ltd. to insure and ship a painting from France to the United States for a certai

n price. Global makes a mistake in adding the costs, which results in a contract price that is $1,000 less than the true cost. Most likely, a court would a. enforce the contract as is. b. allow the parties to rescind the contract. c. award damages to Global for the mistake. d. award damages to Flo for the mistake.
Business
1 answer:
Colt1911 [192]3 years ago
7 0

Answer:

b. Allow the parties to rescind the contract

Explanation:

Flo enters into a contract with Global Shipping Ltd. to insure and ship a painting from France to the United States at a certain amount mentioned in the contract. However, Global Shipping Ltd. makes a mistake in calculating the costs. As a result, a contract price is equal to the amount that is $1,000 less than the true cost. Most likely, a court would allow the parties to rescind the contract.

Option b. is correct.

You might be interested in
1. Production and DM budgets: Stolen Horse, Inc. manufactures and distributes toy dinosaurs throughout the Western United States
Yanka [14]

Answer:

Check the explanation

Explanation:

RAW MATERIAL PURCHASE BUDGET    

                                         July             Aug  Sep  Total  

Budgeted

Production units  64,000  97,200  1,05,200  2,66,400  79,200

RM required per unit   4  4  4  4  4

Total

RM requirement  2,56,000 3,88,800  4,20,800   10,65,600  3,16,800

Add: Desired

Ending Inventory  1,55,520 1,68,320 1,26,720  1,26,720  

Total needs   4,11,520  5,57,120  5,47,520  11,92,320  

Less: Beginning

Inventory        96,000  1,55,520  1,68,320  96,000  

Purchase Units  3,15,520  4,01,600  3,79,200  10,96,320  

Kindly check the attached image below to see the well arranged accounting entry.

6 0
3 years ago
The project involves an initial investment of $100,000 in equipment that falls in the 3-year MACRS class and has an estimated sa
nlexa [21]

Answer:

NPV -87,259.64

Explanation:

P0   -100,000

Salvage Value 15,000

operating working capital realese 5,000

We will calculate the present value of the salvage value and the working capital realese

\frac{Principal}{(1 + rate)^{time} } = PV

\frac{5,000}{(1 + 0.12)^{4} } = PV

3,177.59

\frac{15,000}{(1 + 0.12)^{4} } = PV

9,532.77

NPV = investment - cash flow discounted

NPV = -100,000 + 9,532.77 + 3,177.59 = -87,259.64

3 0
2 years ago
Menthorp Inc. wants to design a variable-pay plan that fosters teamwork and business knowledge of its employees. In order to ens
Elena-2011 [213]

Answer:

cash profit sharing plan -

Explanation:

cash profit-sharing plan - it is one of the sharing plans in the profit-sharing plan. in this profit share directly to the employee through cash, stock, etc.

it is the sharing that is based on profit earned by the organization quarterly or annually. and its whole sole company how much they need to share among the employee.

4 0
3 years ago
Tara Company owns 30% of Hawkins, Inc. and applies the equity method. During the current year, Hawkins buys inventory costing $4
Step2247 [10]

Answer:

The correct option is d. $7,500

Explanation:

For computing the unrealized gain, first we have to compute the gross profit ratio which is shown below:

Since gross profit is not given in the question, so, first we have to find it.

The gross profit formula is shown below:

= Sales revenue - cost of goods sold

= $500,000 - $400,000

= $100,000

Now, gross profit ratio equals to

= (Gross profit ÷ sales revenue) × 100

= ($100,000 ÷ $500,000) × 100

= 20%

In the question, the 25% of merchandise is still held by Tara.

Since merchandise inventory is not given

So, we multiply the gross profit by 25% and 30%

In mathematically,

= Gross profit × 25% × 30%

= $100,000 × 25% × 30%

= $7,500

Hence, the $7,500 amount of unrealized gain must be deferred by Hawkins in reporting on the equity method

Therefore, the correct option is d. $7,500

3 0
3 years ago
A much-used and potent managerial tool for determining whether a company performs particular functions or activities in a manner
Romashka [77]

Answer:

The correct answer is letter "E": benchmarking.

Explanation:

Benchmarking is a continuous process by which products, services or work processes of leading entities are taken to be compared to our company so after the analysis improvements can be made and implemented. Benchmarking is defined as the model of excellence from which the "best practices" can be obtained in favor of our own company.

8 0
3 years ago
Other questions:
  • A popular airline knows that, in general, 95% of individuals who purchase a ticket for a 10-seat commuter flight actually shows
    6·1 answer
  • In a game, a dominant strategy is a. the best strategy for a player to follow only if other players are cooperative. b. a strate
    5·1 answer
  • Explain the difference between objectives and goals, and give examples of each.
    15·1 answer
  • Henry Ford had a big influence in what era
    12·1 answer
  • Which of the following companies is the easiest type to set up? A. Sole proprietorship B. LLC C. C corporation D. S corporation
    15·2 answers
  • Zara has pioneered "cheap chic" in clothing apparel. Zara offers current and desirable fashion goods at relativelylow prices. To
    13·1 answer
  • The Coffee Collective is seeking to identify customers who want a unique coffee-drinking experience and are open to a loyalty re
    14·1 answer
  • Incoterm trong thanh toán quốc tế là gì?
    7·1 answer
  • 11. The auditor's report may include which of the following elements?
    12·1 answer
  • How would you balance demands from different stake holders that are at<br> variance with each other?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!