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Anna [14]
3 years ago
15

AllSpice Incorporated plans to do business with a company located in the Leone Republic, a common law country. The companies hav

e agreed to draft the business contract in the Leone Republic. Since the contract will be drafted under a common law framework, what best characterizes the contract?
Business
1 answer:
Cerrena [4.2K]3 years ago
6 0

The contract must be very detailed and should include all the contingencies spelled out in it.

<u>Explanation:</u>

Contract is a document that is made between two or more than two parties who have come in to an agreement with each other over a particular thing. The contract might be a business contract that the parties make which should have the proportion of profit and liabilities of the business that is to be shared among the partners.

Since the profit and losses are to be shared between the business partners on the basis of this contract, the contract should have very detailed information in it and all the contingencies should be spelled out in it.

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George recently purchased a computer from HardDigits Inc., a firm that sells assembled desktop computers and other electronic pr
Olin [163]

Answer:

The correct answer is Product Bundling.

Explanation:

The product bundling refers to a sales strategy that includes a defined number of products that are offered as one. This practice is increasingly common in companies that are trying to penetrate the market or want to exit products that are close to expiration or depreciation due to technology. The buyer sees an opportunity to purchase certain products that they could not have done when they are just in the stage of maturing sales.

5 0
2 years ago
The Commerce Department reported receiving the following applications for the Malcolm Baldrige National Quality Award: from larg
nlexa [21]

Answer:

Categorical variable

Explanation:

Categorical variable are variables that are not numerical, take on values that are names or labels.It places the individual into a category, categorical variable is also called qualitative variable.

While quantitative variable is a numerical variable, they represent a measurable quantity i.e variables whose values result from counting or measuring something(measurement)

Therefore, the type of variable used here is categorical because the type of business will not be numerical.

4 0
3 years ago
Hobson Company bought the securities listed below during 2020. These securities were classified as trading securities. In its De
Wewaii [24]

Answer:

$50,800

Explanation:

Security     Cost       Fair value     Gain(loss)

X              371,000    343,500        -27,500  

Y              185,000     162,400        -22,600  

Z              <u>424,000</u>    <u>407,800</u>        <u>-16,200 </u>

Total        <u>980,000</u>    <u>913,700</u>         <u>-66,300</u>

Unrealized holding loss on Income statement ended June 30,2021 = $66,300 - $15,500 = $50,800

3 0
3 years ago
Eugene Co. has inventory it purchased for $6,000. It sells the inventory to a customer for $10,000, including installation. Inst
Scrat [10]

Answer:

The necessary entries would be:

Dr Accounts receivable             $11,000

Cr Sales revenue                                     $10,000

Cr Deferred revenue                                $,1000

Explanation:

Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.

This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the  later would be recognized when is installation is concluded.

5 0
3 years ago
Read 2 more answers
When a temporary negative supply shock hits the economy​ ________.
Naddika [18.5K]

Answer:

C. the divine coincidence does not always hold

Explanation:

When a temporary negative supply shock hits the economy the divine coincidence does not always hold.

7 0
3 years ago
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