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PtichkaEL [24]
3 years ago
12

Adele decides to purchase several silver tea sets from Vaughn's gift store. In their sales contract, Adele and Vaughn do not spe

cify how many silver tea sets Adele will purchase. They now have: a. a valid contract with an open price term. b. a valid output contract. c. a valid contract with an open delivery term.
Business
1 answer:
Veronika [31]3 years ago
5 0

Answer:

a. no contract at all

Explanation:

While a contract can be either written or verbal, the vast majority of contracts never get written down or accepted with a signature. Instead, accepting a contract is usually done by exchanging money for a product or service, like purchasing something from a store. But, when it comes to complex contracts that involve multiple terms and conditions, it’s best to get the agreement in writing. For instance, if you’re creating a Service Agreement, you must have all the basic elements of validity in place so you can successfully resolve any disputes that arise. Without a valid contract, you won’t be able to enforce any of its terms (such as receiving reimbursement for work-related expenses or retaining ownership of your intellectual property). If a court or tribunal rules a contract void, it means the contract has no force or effect, so neither party is bound by it and neither party can rely on it . In this case the contract is void and that means there no contract at all .

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7 0
3 years ago
Describe how Kabbage might evaluate the existence and completeness of an applicant’s revenue transactions.
elena55 [62]

Explanation:

Disruptive technology, new business ventures, and increased availability of data are quickly changing traditional financial reporting and assurance processes. As a result, prospective auditors not only need to understand fundamental auditing concepts, but also need to anticipate the influence that disruptive technology will have on the profession. The following case study provides a lens through which prospective auditors can view the coming changes to the profession by asking them to consider how the online lending company, Kabbage, is currently disrupting the lending industry for non-traditional and small businesses. Students contemplate several fundamental auditing concepts such as audit evidence, financial statement assertions, and analytical procedures while also acquiring insight into the effects that new and disruptive technology will have on the profession. The intention is to encourage students to embrace coming changes and become lifetime learners.

3 0
2 years ago
Suppose that last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively. Because of
grandymaker [24]

Answer:

Explanation:

Last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively.

The producer surplus is the difference between the minimum price that a producer is willing to accept and the price it actually gets. It can be found by calculating the area between the supply curve and the market price.

The producer surplus

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

= \frac{1}{2}\ \times\ 5\ \times\ 10

= $25

Because of strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively.

The producer surplus

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

= \frac{1}{2}\ \times\ 7\ \times\ 12

= $42

5 0
3 years ago
e received $120,000 for damages to his professional reputation, $100,000 for damages to his personal reputation, and $50,000 in
Gre4nikov [31]

Answer:

D. $270,000

Explanation:

5 0
3 years ago
Additional paid-in capital is most likely to appear on the balance sheet of a corporation that:
ArbitrLikvidat [17]

Answer:

b. has no-par value stock.

Explanation:

Additional paid-in capital represents the amount of money that shareholders have paid for their shares of stock, in excess of the par value of the stock. This is most likely to occur with no-par value stock, which has no set value assigned to each share.

7 0
2 years ago
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