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3 years ago

In a contract, each party has what?

Business

2 answers:

vivado [14]3 years ago

6 0

The answer to your question is D

aivan3 [116]3 years ago

3 0

Answer: B. An obligation or responsibility.

Explanation: not really sure how to explain it but I took a quiz with this question and got it right.

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Producers' total revenue will decrease if A. The price rises and demand is inelastic. B. income increases and the good is a norm

pav-90 [236]

Answer:

The correct answer is letter "C": the price rises and demand is elastic.

Explanation:

Price elasticity of demand describes the relationship between changes in quantity demanded and prices. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than 1, the demand is elastic. This means in front of relatively small changes in price, major changes in quantity demanded will occur.

Therefore, if a good or service increases in price being the product inelastic, the quantity demanded is likely to drop (demand law) implying the producers' revenue will be decreased.

3 0

4 years ago

on june 19, a u.s. company sold and delivered merchandise on a 30-day account to a german corporation for 190,000 euros. on july

Lesechka [4]

On June 19 the accounts receivable should be recorded at the spot rate: $228,190 ($190,000 Euros * $1.201), which is the rate at which the Euro and the US Dollar were being exchanged at the time.

Many US-based enterprises sell goods to companies abroad. Depending on the discussions and the circumstances surrounding the sale, these sales may be made in US dollars or in another currency. If the sale is made in a foreign currency, the US-based company will be responsible for any fluctuations in the exchange rate from the time the sale and receivable are recorded until the time the foreign currency is paid for the related foreign currency-related receivable.

The accounts receivable should be recorded (converted from Euros to US Dollars) at the spot rate on June 19: 190,000 Euros * $1.201, which is the exchange rate at that time between the Euro and the US Dollar, equals $228,190.

To learn more about Accounts Receivables, refer to this link:

brainly.com/question/14032135

#SPJ4

8 0

1 year ago

The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fu

Dima020 [189]

Answer:

standard price= $5

Explanation:

Giving the following information:

Quantity of direct materials used 3,000 lbs. Actual unit price of direct materials $5.50 per lb. Units of finished product manufactured 1,400 units Standard direct materials per unit of finished product 2 lbs.Direct materials quantity variance-unfavorable $1,000Direct materials price variance-unfavorable $1,500.

Direct material price variance= (standard price - actual price)*actual quantity

-1,500= (SP - 5.5)*3,000

15,000=3,000SP

5= standard price

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1400*2 - 3,000)*5

Direct material quantity variance= 1,000 unfavorable

5 0

3 years ago

Bittner Company borrows $88,500 on November 1, from Harrington State Bank by signing an $88,500, 12%, 18-month note. How much in

N76 [4]

Answer: the correct answer is $1,770

Explanation: Interest is calculated by multiplying the principal times the time period the note is redeemable. It is important to bear in mind that all interest are annual unless it is stated differently. This note renders 12 % annually. At December 31 two months of interests are payable and must be recognized as interest expense. Having said that the calculation is as follows:

December 31 : $88,500 * 12% *(2/12) = $1,770

6 0

3 years ago

Monroe Minerals Company purchased a copper mine for $120,000,000. The mine was expected to produce 50,000 tons of copper over it

NikAS [45]

Answer:

Net Income = $4,560,000

Explanation:

Monroe Minerals Company

Income Statement

For the year ended, December 31, 20Y1

Revenues:

Sales revenues (6,000 tons of copper × $4,500) = $27,000,000

Operating Expenses:

Operating expenses $8,040,000

Depreciation expenses (Note 1) $14,400,000

Total operating expenses 22,440,000

Net operating income $4,560,000

Note 1

Depreciation expense rate =

Cost of equipment ÷ expected unit production

or, Depreciation expense rate = $120,000,000 ÷ 50,000 tons of copper

or, Depreciation expense rate = $2,400/ton

Therefore, depreciation expense for the year 1 = $2,400 × 6,000 = $14,400,000.

6 0

3 years ago