A contract clause which specifies the amount of damages to be paid in the event of a breach is called a liquidated damages clause.
When parties are entering into a contractual agreement, certain provisions are catered for in the contract which allows payment of a specified sum should one of the parties be in breach of contract. This is called liquidated damages clause.
The purpose of adding the clause ( liquidated damages clause) is to ensure sure parties to the contract understand and performs their duties accordingly.
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Answer:
is to share risk.
Explanation:
Insurance is a means by which individuals and businesses avoid the risk of a loss. It is a risk management strategy that is used to hedge against the risk of uncertain loss.
So risk is shared with other parties usually the insurance company in the event of a loss.
The insurance company collects a payment called premium to maintain this agreement. The premium acts as a financial cushion for the insurance firm, and also provides means of settling loss claims.
For example a company can buy insurance against fore loss and pay premiums. In the event of a fire the insurance company is liable to reimburse the company for losses incurred.
Answer:
a. Imports (M), b. Government Expenditure (G), c. Exports (X), d. Investment 'I'
Explanation:
a) 'Kevin buys a bottle of Italian wine' is a part of US Imports (M)
b) 'The state of Pennsylvania repaves highway PA 320' is a part of US Government Expenditure (G)
c) 'Maria's father in Sweden orders a bottle of Vermont maple syrup from the producer's website' is a part of US Exports (X)
d) 'Kevin's employer upgrades all of its computer systems using U.S.-made parts' is a part of US Investment 'I'
Answer:
Explanation:
Standard fixed overhead rate=budgeted fixed overhead costs/practical capacity=$400000/32000=$12.50
Fixed overhead spending variance=Actual fixed overhead-Budgeted fixed Overhead=$403400-$400000=$3400
Fixed overhead volume variance=Budgeted fixed overhead-(Standard hours*Standard fixed overhead rate)=400000-(0.80*32000)=$397440
Answer:
$45,297
Explanation:
Data provided as per the question
Installment = $9,000
Present value factor = 5.0330
The calculation of present value is shown below:-
Present value = Installment × Present value factor
= $9,000 × 5.0330
= $45,297
Therefore for computing the present value of the loan we simply multiply the installment with present value factor.
