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saul85 [17]
2 years ago
7

According to the Uniform Commercial Code's rule, when forms are not exchanged, _____. acceptance cannot materially vary from the

offer acceptance can have terms additional to the offer differing terms must be included as a part of the contract though the acceptance varies from the offer, it cannot be considered as a rejection
Business
1 answer:
Likurg_2 [28]2 years ago
6 0

Answer:

According to the Uniform Commercial Code's rule, when forms are not exchanged, acceptance cannot materially vary from the offer

Explanation:

Then UCC code was established because it was becoming increasingly difficult for companies to transact business across state lines given the various state laws.

The Uniform Commercial Code (UCC) is important since it helps companies in different states to transact with each other by providing a standard legal and contractual framework.

According to the Uniform Commercial Code's rule,  

  • Firm offers (offers to buy or sell goods and promising to keep the offer open for a period of time) are valid without only when it is signed by the offeror.
  • An offer to buy goods for shipment invites acceptance by either prompt shipment or a prompt promise to ship.

Therefore, when forms are not exchanged, acceptance cannot materially vary from the offer.

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15. If, in the economy described, government spending increases by $200 million, what will be the associated change in equilibri
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Answer:

$200 (million)

Explanation:

If the government spending increases by $200 million, then associated change in equilibrium income will be $ 200 million, assuming that Marginal Propensity to Consume (MPC) is 1

6 0
3 years ago
Howard ​Services, Inc., has $ 8 comma 600 cash on hand on January 1. The company requires a minimum cash balance of $ 7 comma 60
skad [1K]

Answer:

The amount of cash to be borrowed = $18,040

Explanation:

The cash budget shows the expected cash payments and expected cash receipts and cash balance at the end of a particular period.

Note that in the cash budget only items of the cash are considered, therefore items like depreciation, amortization of intangible assets and apportionment of fixed costs are not included because they are not cash based.

The balance at the end = opening cash balance + cash receipts -cash payment  

Applying this to Howard ​Services, Inc.

The amount of cash to be borrowed = Minimum cash balance required - Net cash balance

DATA

Opening cash balance - 8600

Cash receipts- 548,570

Cash payment - 567,610

Net cash balance = 8600 + 548,570 - 567,610 = (10,440)

The amount of cash to be borrowed = 7,600 - (10,440)

                                                               =7,600+10,440=18040

The amount of cash to be borrowed = $18,040

<em>Note a negative amount of 10,400 would mean that that would be first borrowed to balance the deficit, and to take the balance to the minimum required cash balance, an addition 7,600 would need to be borrowed</em>.

6 0
3 years ago
The Lowery Co. uses the direct write-off method of accounting for uncollectible accounts receivable. Lowery has a customer whose
olchik [2.2K]

Answer:

Debit Bad Debt Expense; Credit Accounts Receivable

Explanation:

Bad debts expense is related to a company's current asset accounts receivable. Bad debts expense is also referred to as uncollectible accounts expense or doubtful accounts expense.

When a cash payment is received from the debtor, cash is increased and the accounts receivable is decreased. When recording the transaction, cash is debited, and accounts receivable are credited.

8 0
2 years ago
During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liabili
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Answer:

(1) accrue salaries expense

Debit [e.] Salaries Expense

Credit [g.] Salaries Payable  

--------------------

(2) adjust the Unearned Services Revenue account to recognize earned revenue

Debit [a.] Unearned Services Revenue  

Credit [f.] Services Revenue  

--------------------

(3) record services revenue for which cash will be received the following period.  

Debit [b.] Accounts Receivable

credit [f.] Services Revenue

3 0
2 years ago
Under a partial release clause, a lender:
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D. Removes the lien from part of the property when part of the debt has been paid. This clause is used in commercial loans to allow a developer to repay part of the debt to remove the lien on part of the property. It is negotiated for agreed-upon payments to free multiple parcels of property separately to encourage development. 
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3 years ago
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