Answer:
description
Explanation:
Uniformity means that all goods are of similar nature, or in case when the goods are meant to be different, the goods are of quality standards.
This is the basic condition.
The Uniform Commercial Code ensures this above basic principle. Accordingly if there is a sample of a product that means the sample creates a common understanding that all other products are similar, and also that the there is a inbuilt warranty that the whole of the goods are as described and as depicted by the sample.
Answer:
d. is the amount of consideration that a company expects to receive from a customer.
Explanation:
The price of the transaction is the expected amount that the customer receives to transfer the goods and services. This transaction price depends on the project being completed.
The transaction price plays a major role in recognizing the revenue as it specifies the contract with the customer, performance obligations, after which only the transaction price is evaluated, then the allocation is done and finally revenue is recognized
Answer:
Consumer Financial Protection Bureau
Explanation:
Consumer Financial Protection Bureau is an organization that's established by the United States government in order to provide protection for costumers within the financial sectors. They offer protection for activities such as Securities firm operation, capital management, debt collector, foreclosure services, etc.
The problems that Ben experience fall under the jurisdiction of the Bureau.
After filing a complaint, the Bureau will sent their agents to conduct the investigation (mostly by examining their financial books in order to seek any possible violations). If the bureau managed to find some proof of foul play, The Bureau could bring the case to the prosecutor and brought the company into court.
<u>Solution and Explanation:</u>
(a). Firm in perfect competition produces at minimum efficient scale, MEC where average cost AC is minimum. The price is determined by the market supply and demand.
(b) Note that q1 is at the minimum of AC while Q* is to the left of q1. Similarly, P1 is equal to MC while P* is higher than MC. This shows that firms in perfect competition produce more and charge less than the firms in monopolistically competitive market.
(c) All firms in monopolistically competitive market as well as perfectly competitive market earn zero economic profit in the long run. This is because there is a free entry and exit
(d) Demand is steeper for firms in monopolistically competitive market so that demand is elastic. Demand is horizontal for any quantity which means it is perfectly elastic for a firm in competitive market.
Answer: The actual cost of materials was less than the standard cost
Explanation:
Net materials cost variance = Favorable materials price variance + Favorable materials quantity variance
= 380 + (-120 unfavorable)
= 380 - 120
= $260 favorable
<em>As the materials cost variance is favorable, it means that the actual cost of materials was less than what was budgeted for it or rather its standard cost. </em>
