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GrogVix [38]
2 years ago
14

Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention the prices. The server takes

their order and both Fred and Betty enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, "Are you ready to order" and when Fred said "yes", the server merely asked, "What may I get you tonight"?
A. ​Fred is correct because no contract was formed.
B. Fred must pay based on a promissory estoppel theory. ​
C. Fred must pay based on an implied-in-fact contract theory.
D. ​Fred must pay based on expressed contract theory.
Business
1 answer:
natta225 [31]2 years ago
8 0

Answer: <u><em>Fred must pay based on an implied-in-fact contract theory.</em></u>

Implied contract are agreement where the state of the individuals who makes them enter into an agreement which is not neither written nor explicitly elaborated.  

In this scenario, even though there were no prices stated, but the order for food was placed , that implies an  agreement or implied contract.

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What is the difference between gross income, taxable income, and adjusted gross income?
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Here is what I found, I hope it helps

Explanation:

Gross Income contains all money you earn that is not expressly removed from taxation under the Internal Revenue Code (IRC). The part of your gross income which is currently subjected to taxes is Taxable Income. To arrive at the number of Taxable Income, expenses are deducted from gross income. For a year, your Gross Income applies to all your pre-tax earnings, while your Adjusted Gross Income is mostly smaller and refers to your income after tax deductions. I could not find the difference between Adjusted Gross Income and Taxable Income.

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The following information applies to the questions displayed below) Serendipity Sound, Inc., manufactures and sells compact disc
OlgaM077 [116]

Answer:

  1. $25.50
  2. 90,000 units
  3. 140,000 units

Explanation:

1. Current contribution margin ratio

= (Selling price - Variable cost)/ Selling price

= (25 - 19.8) / 25

= 0.208

New Direct labor = 5.0 * ( 1 + 8%)

= $5.40

New variable cost = 19.8 + 0.4 = $20.20

To maintain 0.208

0.208 = (Selling price - 20.20) / Selling price

0.208 * Price = Price - 20.20

0.208Price - Price = -20.20

-0.792Price = -20.20

Price = -20.20/-0.792

Price = $25.50

2. Breakeven = Fixed Cost / Contribution Margin

Contribution Margin = Selling price - Variable cost

= 25 - 19.8

= $5.20

= 468,000/5.2

= 90,000 units

3. To earn $260,000;

= (Fixed Cost + 260,000) / Contribution margin

= (468,000 + 260,000) /5.2

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6 0
3 years ago
Riverbed Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $7,280, Land $49
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Answer:

Explanation:

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Total assets = Total liabilities + stockholder equity  

The debit and credit side of the balance sheet should always be equal and balanced.  

Moreover, it always is prepared on the specified date.

The land is a fixed asset and patents is an intangible asset. Thus these items would not come in the current asset section

The preparation of the current assets section of the balance sheet is presented in the spreadsheet. Kindly find the attachment below:

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2 years ago
Trevor's boss told him that he would now also be responsible for answering the phones and filing correspondence in addition to t
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The responsibility for answering the phones and filing correspondence in addition to the tasks is an example of extension.

<h3>What is an extension?</h3>
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To learn more about Multitasking refer to:

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