Answer: Partial performance
Explanation:
- Partial performance is described as the completion of a job that forms a portion of a contract.
Here, the seller agrees to paint the house before conveying the house to the buyer. The weather changes, and the seller is unable to finish painting the house before closing.
This indicates a part of job is done.
Hence, this is an example of <u>partial performance.</u>
Answer:
For an operating lease
Explanation:
Operating leases are simply expensed in the period in which they occur. There is no finance cost portion relating to the lease and the amount payable is recognised as an expense in the income statement for the period for which it's relevant.
An oligopoly is a market form in which a market is dominated by a small number of sellers. For example, as of fourth quarter 2008, Verizon, AT&T, Sprint, and T-Mobile together control 97% of the US cellular phone market. Competition is limited in an oligopoly because barriers to entry are high.The most important barriers are government licenses, economies of scale, patents, access to expensive and complex technology, and strategic actions by incumbent firms designed to discourage or destroy nascent firms.
Answer:
which statement regarding Cold Goose Metal Works Inc.’s balance sheet is consistent with U.S. Generally Accepted Accounting Principles (GAAP)
A. The company’s debts should be listed in order of their liquidity.
Explanation:
Under U.S. GAAP, assets are presented in descending order of liquidity, liabilities in ascending order of time to maturity, and equity in descending order of priority in liquidation.
Answer: An ethical issue
Explanation: An ethical issue transpires when a given resolution, postulated sequence or activity generates a discord with an organization or a person’s ethical standards. These discords could be lawfully risky whereby the options to work out the problem is a violation of a specific regulation and could create an antagonistic reaction from the other individual involved. In this case, this is an ethical issue for the individual which must be dealt with because the CEO’s nephew, Dave is not qualified for the job position that the CEO asked for him to be put in.