According to the Uniform Commercial Code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods courts generally have no basis for determining a remedy.
<h3>What do you mean by Uniform Commercial Code?</h3>
The uniform Commercial code states that a sale consists of the passing of title from the seller to the buyer for a price.
According to the Uniform Commercial code's interpretation of an open quantity term, if the quantity term is left open in a contract for the sale of goods, courts have no basis for the determination of remedy.
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Answer:
$61
Explanation:
The computation of unit product cost for the month under absorption costing is shown below:-
Unit product cost = Direct material + Direct labor + Variable Manufacturing overhead + Fixed manufacturing cost
= $18 + $10 + $4 + ($255,200 ÷ 8,800)
= $61
Therefore for computing the unit product cost for the month under absorption costing we simply applied the above formula.
Answer:
(A) Accounts Payable - Liabilities
(D) Equipment - Assets
(E) Supplies - Assets
(F) Retained earning - Owner's Equity
(H) Cash - Assets
Explanation:
The major categories in a balance sheets are: Assets, Liabilities and Owner's Equity,
Assets are many things (as equipment, machinery, Receivables, etc) that belongs to the company, please see details in the answer.
Liabilities represent the obligations of the company with all kind of creditors.
And finally Owner's Equity it's the Capital that support part of the Assets along with the Liabilites.
Answer:
The correct answer is letter "E": Derived demand.
Explanation:
Derived demand implies the quantity requested to manufacture a good is directly related to the supply requested from the market. If the demand for the good increases, it means the quantity of the materials needed to manufacture that good will increase as well.
The interest rate is 7%.
<u>Solution:</u>
The real rate of interest is always above the nominal interest rate when inflation is positive. In this case, we are told inflation is 3%. Since the real rate of return is the nominal interest rate minus inflation, we need a nominal interest rate of <u>5%+3%=8%</u> to get a real interest rate of 5%.
To calculate the real interest rate subtract the inflation rate from the nominal interest rate. Mathematically it looks like this The real interest rate is the nominal interest rate minus the inflation rate. Creeping inflation is a type of inflation in which the price level rises steadily at a moderate rate over an extended period of time.
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