Answer:
Given that,
Value of promissory note = $11,700
Time period = 60 days
Interest rate = 14%
Interest revenue:
= Note value × Interest rate × Time period
= $11,700 × 0.14 × (60/360)
= $273
Therefore, the journal entry is as follows:
Accounts receivable A/c Dr. $11,973
To Interest revenue $273
To Notes receivable $11,700
(To record the dishonored note)
In the competitive structure hierarchy, the headquarters relies on strategic controls to set rate-of-return targets and financial controls to monitor divisional performance relative to those targets.
<h3>What is competitive hierarchy?</h3>
- The competitive hierarchy, which is an ordered ranking from competitive dominant to competitive subordinate based on either competitive effect or respons, may be used to rank plant species in natural habitats.
- According to Maslow's hierarchy of needs, a theory of motivation, a person's conduct is determined by five categories of basic human needs. These needs include those for physiology, safety, love and belonging, esteem, and self-actualization.
- Slow decision-making and communication. The typical organizational hierarchy has an inherent requirement that everything be reviewed and given the go-ahead at each level as it moves up and down the chain.
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Option A. Under comparative principles, a plaintiff's contributory negligence relieves a defendant from any liability for injury to the plaintiff.
<h3>What is the contributory negligence ?</h3>
This is the term that is used to say that if the party is negligent for the injuries that they have suffered, they would not be able to get damages for the injuries they have.
This would relieve the defendant from any of the liability that they may have to pay.
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Answer:
A promise to deliver a deed
Explanation:
The term, 'strict performance' is used to describe a contract between two parties. A contract is an agreement between two parties, and it is legally binding. When discharging contracts involving services, 'substantial performance' is required. For example, if I tell a painter to paint my house blue except for the kitchen and storeroom which should be painted white, and he does accordingly but failed in painting the kitchen white, he has performed substantially even though there was a minor breach. The consequences of which would be borne by him.
'Strict performance' is required in contracts where the terms are stated in express terms and the standards are very high. A 'deed' is such a contract because it is a document specifying the legal rights of a person or the ownership of a property. It requires the signatures of the two parties. Therefore, strict performance and adherence to the contractual deed are required.
Answer:
c. a long-term investment.
Explanation:
A long-term investment is an asset that a business tends to keep for more than one year. An investor or business that acquires a long-term investment has no intention of selling in the short or medium term. Some long-term investments will never be sold.
The land will be recorded as a long term investment. It qualifies an asset because it will be used in the production of other goods, thereby generating income for the business. The land will be used after five years; hence it's a long term investment.