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irga5000 [103]
3 years ago
13

Fact Pattern 18-B1

Business
1 answer:
Roman55 [17]3 years ago
6 0

Answer:

D) substantial, but not complete, performance

Explanation:

Even though Moses breached his contract with Noelle, most part of the contract was performed. The most significant part of the contract was the apartment itself, not the air conditioning system. For a material breach to exist Moses should have failed to perform in a greater way, not just the air conditioning. Probably Noelle should get a discount on the price of the apartment so that she can get the air conditioning system installed.

The fact that Noelle stopped paying for the apartment just because of this is a little overreacting. For example, if I buy a used car and the previous owner forgets to give me the spare tire, I cannot stop paying because it may be worth money but proportionally it's a small amount.

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Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in
Vlad [161]

Answer:

$19,500

Explanation:

Given that,

Bob's outside basis in Freedom, LLC, = $10,000

One-fourth share of the LLC's debt = $2,500

Bob's 704(b) capital account = $17,000

Tom bought Bob's LLC interest = $17,000

Tom's outside basis be in Freedom, LLC:

= Amount paid for interest + share of LLC’s Debt

= $17,000 + $2,500

= $19,500

5 0
3 years ago
Normative and positive statements.
deff fn [24]

Answer:

a. positive

b. normative

c. positive

d. normative

Explanation:

Note that a normative statement as used in economics refers to a view of what should be done, or how things or policies should be or not be. While the Positive statement gives a point blank description of what the state of things are.

a. It is a fact of course that in the past decades U.S. companies have outsourced millions of job overseas, thus this is a positive (descriptive) statement.

b. By saying companies that outsource jobs are acting immorally indicates a normative or judgemental view of what is morally right.

c. This statement is a fact, because such actions is in line with economic theory; in effect would stop outsourcing jobs.

d. This is rather a view of what should be done. Which clearly indicates the statement as normative.

6 0
3 years ago
Who is Adam Smith and what is his belief about prices? Do you agree or disagree? Why?
andrew-mc [135]

Answer:

Adam smith is Abigail Smiths husband

Explanation:

They have been married for centies

4 0
3 years ago
Global Commerce Corporation purchased trading debt investments for $136,000 on December​ 31, 2018. There is a decrease of $3,400
stellarik [79]

Answer:

A. Unrealized Holding  Loss - Trading 3,400

Fair Value  Adjustment - Trading 3,400

Explanation:

Since this investment is classified as a trading investment, any change in its fair market value must be included in their income statement. The appropriate journal entry should be:

Dr Unrealized loss on trading security 3,400

     Cr Debt investments 3,400

This will decrease the carrying value of the debt investments in the balance sheet and the loss will be included in the 2019 income statement. The fair value adjustment account normally has a credit balance since it decreases the carrying value of the investment account.

3 0
3 years ago
Definition of pre customer contact​
Alinara [238K]

Answer and Explanation:

As the name suggests the pre customer contact means contacting the customer before selling the product so that the firm could able to find out the requirement of the customer what he or she needs

The firm has the responsibility to provide the information about their products and services so that the customer could able to decide what he or she actually wants

After the selling the person could become the customer

8 0
3 years ago
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