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aleksklad [387]
3 years ago
13

Assume at the end of the meeting between Jack, Hal, and Sophia, they orally agree to enter into three separate contracts. One co

ntract is for the sale of the intellectual property of the restaurant itself for $1,000,000. The second contract is for the sale of the building that the restaurant is located in for $250,000. The third contract is for the original sign that was outside the restaurant that Jack currently has in his garage, for $400. Which of these agreements violates the Statute of Frauds?
Business
1 answer:
Anit [1.1K]3 years ago
4 0

Answer:

The second contract is for the sale of the building that the restaurant is located in for $250,000.

Explanation:

The statute of frauds is a law enacted in all states that requires that certain agreements be in writing and signed by persons agains whom enforcement of the contract may be sought. The statute will apply to any transfer of an interest in real estate and to leases with a duration longer than one year.

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Whole Grain Bakery purchases an industrial bread machine for $30,000. In addition to the purchase price, the company makes the f
Andrei [34K]

Answer:

The initial cost of the bread machine is $37,500

Explanation:

Initial cost is the sum of all the expenditure incurred from the purchase of asset to make it usable for the business. It includes purchase price, transportation cost, testing costs etc.

Bread Machine

Purchase price    $30,000

Freight                 $2,000

Installation           $4,000

Testing                <u>$1,500   </u>

Total Initial Cost <u>$37,500</u>

6 0
3 years ago
Most products today are composites of global materials and services from throughout the world. true false
Lorico [155]
The correct answer would have to be true :)

3 0
4 years ago
A baker knows that her customers will pay $5 for a loaf of bread, but if the marginal
schepotkina [342]

Answer: Sell at lower price

Explanation:

Marginal Utility is the amount of satisfaction that her customers will get with every additional unit of bread purchased.

If the marginal utility decreases, her customers will buy less bread because to them, it is not as valuable anymore. If she offers her bread at lower prices, the customers would buy more because the new price will align with the lower utility the customers get from the additional loaves.

8 0
3 years ago
You paid cash for $900 worth of stock a year ago. Today the portfolio is worth $904. Required: a. What rate of return did you ea
Zepler [3.9K]

The rate of return did you earn on the investment is 44%.

<h3>What is the return rate?</h3>

The net gain or loss of an investment over a given time period, stated as a percentage of the investment's starting cost, is known as a rate of return (RoR). You determine the percentage change from the start of the period to the end when computing the rate of return.

<h3>What does a rate of return look like?</h3>

The yearly rate of return, for instance, would be 16.66 percent if an investment cost $60 at the beginning of the year and ended up being worth $70.

learn more about rate of return here <u>brainly.com/question/24301559</u>

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4 0
2 years ago
The bank reconciliation Group of answer choices should be prepared by an employee who records cash transactions is part of the i
jeka57 [31]

Bank reconciliation is one of the components of the internal control system of an organization.

Option B is the correct answer.

<h3>What is internal control?</h3>

Internal control is applied to identify the accuracy and fairness of the accounting information being reported in the accounting records.

The bank reconciliation is a statement prepared to figure out whether the balances of the company's cash account are matched with the bank statement or not. If it is not matched, then what are the differences that lead to the non-matching of both the records.

Therefore, the internal control system of an entity comprises one of its processes called bank reconciliation.

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5 0
2 years ago
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