Answer:
<h2>1) The answer is option a) or True.</h2><h2>2) Generally all contracts are assumed to be <u>Shipment </u> contracts if nothing to the contrary is stated in the contract.</h2><h2>3) The seller is required to deliver the goods to a particular destination in a destination contract,usually directly to the <u>buyer</u>
<u>.</u></h2><h2>4) The answer is option a) or True.</h2><h2 />
Explanation:
- A shipment contract mandates that the seller of any good or service is obligated to deliver the specified shipment to a common carrier for delivery to the buyer but not directly to the buyer's destination.Under the shipment contracts,the seller is not responsible for the condition of the shipment or package during the delivery point and time to the buyer.
- If nothing is specifically mentioned in the contract regarding the delivery of the shipment,it assumably qualifies as a shipment contract and the seller is only liable to dispatch the shipment to the transportation carrier and not obligated to send it directly to the buyer's destination.
- Under a destination contract,the seller is officially obligated to dispatch the concerned goods or shipment directly to the buyer's actual destination.Hence,the seller's obligation is incomplete until the shipment subsequently reaches the buyer's destination.
- For destination contract,at the point of delivery,the burden of risk and title associated with the condition and ownership of the specified shipment is passed onto the buyer and seller is not officially or legally liable regarding the same.
Answer:
The Oscar's fixed costs per month is $2,500
Explanation:
Fixed cost: The fixed cost is that cost in which the amount is remain fixed whether production level change or not, that means it does not have any effect on the production level.
In the given question,
Monthly rent is $2,500 which is fixed so, it would be considered as fixed cost
The per hour pay and electrical bill depend upon the total hours of operation which means if the more hours, the workers are engaged so more pay will be give to them, and more electricity bill come.
And if they are working few hours, than less rate and less electrical bill will be there which reflects the variable cost. So, these cost are considered variable cost. Thu, it would not be included in the fixed cost.
Hence, Oscar's fixed costs per month is $2,500
Answer:
Explanation:
The journal entry is shown below:
On July 1
Treasury stock A/c Dr $5,280
To Cash A/c $5,280
(Being purchase of treasury stock for cash is recorded)
The computation is shown below:
= Number of shares purchased × cash price per share
= 440 shares × $12
= $5,280
All other information which is given is not relevant. Hence, ignored it
Answer:e) uncertainty avoidance
Explanation:
Uncertainty Avoidance refers to how people of different cultures respond to changes or the unknown based on their level of tolerance.
People of different cultures respond or reacts differently when unplanned situations occurs.
Uncertainty Avoidance relates to the level to which individuals of a particular community are comfortable with uncertainty and the unknown.
People who belong to cultures with high uncertainty avoidance try to reduce the occurrence of unknown circumstances and to proceed with careful changes step by step by planning and by implementing rules and regulations. They have very low tolerance for change WHILE people who belong to low uncertainty avoidance culture accept and feel comfortable in unplanned situations and try to have as few rules as possible. They have high tolerance for change.
Answer: $7,740
Explanation:
Given, At December 31, Accounts receivable = $238,000
Allowance for uncollectible accounts = 3% of (accounts receivable)
∴ Allowance for uncollectible accounts = 3% of ($238,000 )
=$(0.03 ×238,000) [3% = 0.03]
= $ (7140)
= $7,140
Allowance for uncollectible accounts (credit) before any adjustments= $600
The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts + $600
= $7,140 + $600
= $7,740
Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>
