1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Westkost [7]
3 years ago
13

_____ refers to what each party gets in exchange for his or her promise under a contract.

Business
1 answer:
wlad13 [49]3 years ago
4 0
Consideration refers to what each party gets in exchange for his or her promise under a contract. A contract has four elements: agreement, consideration, contractual capacity, and legal object. Agreement refers to the contract itself, consideration to the results of the contract, contractual capacity represents your legal ability to sign the contract, and legal object is the purpose of the agreement.
You might be interested in
Jacob Corcoran bought 10,000 shares of Grebe Corporation stock two years ago for $24,000. Last year, Jacob received a nontaxable
Evgen [1.6K]

Answer:

Explanation:

Given that :

Jacob Corcoran bought 10,000 shares of Grebe Corporation stock two years ago for $24,000.

Last year, Jacob received a nontaxable stock dividend of 2,000 shares in Grebe Corporation, and

In the current tax year, Jacob sold all of the stock received as a dividend for $18,000.

The objective is to prepare a memo for the tax research file describing the tax consequences of the stock sale.

From the tax research file:

The gain on the sale of the 2,000 shares is calculated by the difference from the sales price and the shares sold.

I.e $24000 - $18000 = $6000

The tax rate on the $2000 = Purchase price of the shares/ (Original shares bought + new shares)

The tax rate on the 2000 shares = $24000/($10000+$2000)

The tax rate on the 2000 shares=  $24000/$12000

The tax rate on the 2000 shares=  $2 / shares

The Gain in the share = selling price - tax basis in the 2,000 new shares

The Gain in the share =  $18000 - $4000

The Gain in the share = $14000

∴

This is the long capital gain i.e  $14000

The memo in summary goes thus:

The amount of $24000 is being paid by you for 10000 shares of stock in Grebe Corporation in which a stock dividend of 2000 was received. However, the share is sold for $18000, the tax basis is deduced by dividing $24000 purchasing price by $12000(original price + new shares price) which resulted into a $2/ shares.  The $14,000 gain on the sale is a long-term capital gain. The gain on the sale is long term because the original Grebe stock has been held for more than one year.

5 0
3 years ago
How do i color clay without food coloring or paint
mafiozo [28]

Answer:

So to ur teacher and say ind out ur sel

Explanation:

6 0
3 years ago
Read 2 more answers
Assume the bid rate of an Australian dollar is $0.60 while the ask rate is $0.61 at Bank Q. Assume the bid rate of an Australian
jarptica [38.1K]

Answer:

$16,393.44

Explanation:

Calculation for what would be your gain

Gain=$1,000,000/($0.61 per AUD)*$0.62 per AUD - $1,000,000

Gain=1,639,344*$0.62 per AUD - $1,000,000

Gain=$16,393.44

Therefore what would be your gain if you use $1,000,000 and execute locational arbitrage will be $16,393.44

3 0
3 years ago
The following data were taken from the records of Menendez Company:
nydimaria [60]

Answer: a. $1,500

Explanation:

Working capital is calculated by deducting current liabilities from current assets. It is meant to show the operating liquidity of a company within a period.

Working capital = Current assets - Current liabilities

= 5,000 - 3,500

= $1,500

3 0
3 years ago
The sales volume variance is the difference between the: A. static budget (based on planned volume) and actual revenue or cost.
Luda [366]

Answer:

The correct answer is the option A: static budget (based on planned volume) and actual revenue or cost.

Explanation:

To begin with, the name of "Sales volume variance" refers to a method used in the business and accounting field with the main purpose of obtaining the comparison between the planned sales and the actual sales. It does it by stating that the difference between those two multiply by the budget price of the product will result in the variance itself. The goal of this method is to measure the sales performance and to see if there are no mathces with the expected revenues then the company has to take a lead and do something about it.

5 0
3 years ago
Other questions:
  • You are the pilot of a plane. There are 10 men with shirts off, 7 with shirts, 3 babys, 12 old ladys, 3 kids, and 24 mothers. Wh
    15·2 answers
  • Six-month call options with strike prices of $35 and $40 cost $6 and $4, respectively. You plan to create a bull spread call (Bu
    10·1 answer
  • According to the theory of comparative advantage, of the united states and mexico increase their trade with each other, the two
    10·1 answer
  • How can you use spreadsheets both at home and at the office? describe the office business functions which can use electronic spr
    5·1 answer
  • A "Buy American" provision in the 2009 stimulus bill would ________ consumer surplus and ________ producer surplus for industrie
    5·1 answer
  • Lenders charge a loan origination fee to A. cover the expenses involved in generating the loan B. guard against charges of usury
    12·1 answer
  • To reach the maximum money​ multiplier, it is assumed that A. there is insufficient loan demand. B. commercial banks keep excess
    13·1 answer
  • Sellers may choose not to sell in certain markets if:
    14·1 answer
  • he manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indica
    13·1 answer
  • charles was a relatively new and inexperienced leader assigned to an experienced workgroup with long-standing performance norms
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!