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3 years ago

Which of the following circumstances is (are) not an acceptance of the goods by the buyer

Business

1 answer:

Tanzania [10]3 years ago

7 0

Complete question:

Which of the following circumstances is (are) not an acceptance of the goods by the buyer?

a.Payment by the buyer

b.After a reasonable opportunity to inspect the goods, the buyer lets the seller know that the goods are conforming

c.The buyer's failure to make an effective rejection

d.The buyer does an act that is inconsistent with the seller's ownership

e.None of the above

Answer:

Payment by the buyer

Explanation:

According to the UCC, approval takes place where the buyer: after a reasonable chance of inspecting the products, the vendor shows that the goods adhere to or[ or] will be accepted by him given any non-conformity. Does not deny the goods within a fair inspection time; It works in a manner incompatible with ownership of the goods by the seller.

Section 2–602 states that a refusal shall be made within a reasonable period of time following the delivery of the goods and furthermore, the buyer shall, in a reasonable manner, notify the seller of the refusal in a seasonal manner (reasonably swiftly).

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On January 1, year 8 Harper Co. finances the purchase of equipment by issuing a $15,000 non-interest-bearing note payable. The n

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Answer: $11583

Explanation:

The amount that Harper Co. should report the equipment on its balance sheet dated December 31, year 8 will be calculated thus:

= Amount of annual instalment × PV of ordinary annuity of $1 at 5% for 10 periods

= (15000/10) × 7.72173

= 1500 × 7.72173

= 11582.595

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Therefore, the amount will be $11583

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3 years ago

Petra, a plant manager, received an e-mail from the CEO stating that the company will now be focusing on customer service. The e

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Answer:

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3 years ago

The negative impact of the coronavirus on businesses

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Answer:

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3 years ago

If a firm sells on terms of 2/10 net 30 days, and its DSO is 28 days, then the fact that the 28-day DSO is less than the 30-day

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Answer:

a) true

Explanation:

2/10 net 30 means that if the costumer pays within 10 days, he will be offered 2% discount, otherwise the amount is due in 30 days in full.

DSO means average number of days the company takes to receive payment from customers of credit sales.

Since the DSO of a firm given is 28 days, which is lower than the 30 days credit period normally offered by the company, therefore it may indicate that the firm's credit department is operating effectively.

Hence, answer is a) true

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3 years ago

Scott Corporation produces a part for use in the production of one of its products. The per-unit costs associated with the annua

denpristay [2]

Answer:

It is cheaper to buy the part. The company will save $5,000.

Explanation:

Giving the following information:

UNitary production cost:

Direct Materials $10.50

Direct labor $24.00

Variable factory overhead $ 5.50

Total avoidable Fixed factory overhead= (12*1,000) - 5,000= 7,000

Larson Company has offered to sell 1,000 units of the same part to Scott Corporation for $42 per unit.

First, we need to calculate the total cost of making the units:

Total cost= (10.5 + 24 + 5.5)*1,000 + 7,000= $47,000

Now, the total cost of buying them:

Buy= 1,000*42= $42,000

It is cheaper to buy the part. The company will save $5,000.

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3 years ago