Options:
- Smith Bus should be excused from performance under the clause for the rights on improper delivery
- Smith Bus should not be excused from performance because it did not act in good faith
- Smith Bus should be excused from performance under the test of commercial impracticability
- Smith Bus can exercise its right of anticipatory repudiation
Answer:
Correct answer is Option c.
<u>Smith Bus should be excused from performance under the test of commercial impracticability
</u>
Explanation:
In this case, Smith cannot fulfil the contract obligation due to an unforeseen event. Hence, Commercial impracticability shall apply.
Answer:
The correct answer is letter "C": common law.
Explanation:
Common laws are legal precedents set by courts that are necessarily written but can be taken into consideration at the moment of coming up with the decision of a case. These legal precedents are based on the lifestyle of society and attempt to follow the rules established by the legislature or official statutes.
<span>The manager of a fast food franchise will establish o</span>perational plans in regard to how many hamburgers to cook each hour.
Answer:
$17,000 favourable
Explanation:
Price variance is the difference between the actual cost incurred to purchase the material and the actual quantity cost on a standard or budgeted rate of the material.As per given data
Actual Quantity = 34,000 gallon
Actual Price = $5.60
Standard cost = $6.1
Total Actual cost = 34,000 x $5.60 = $190,400
Standard cost of Actual purchase = $6.1 x 34,000 = $207,400
Direct-material price variance = Cost at standard rate - Actual Cost = $207,400 - $190,400 = $17,000
The variance is favorable as Oiner Corporation incurred less cost on a quantity purchase than the standard cost of the same quantity.
Answer:
d. debit to Cash for $1,920,000
Explanation:
Journal entry
Date Account titles and Explanation Debit Credit
Cash $1,920,000
(2,000*$1,000*0.96)
Discount on Bonds Payable $80,000
(2,000*$1,000*0.04)
Bonds Payable $2,000,000
