With respect to binding Frakking Mining to contracts, Emery is: B. an agent and has the authority.
<h3>What is contract?</h3>
A contract can be defined as an agreement between two or more parties in which the parties involve tend to agreed to the terms and condition of the contract.
Hence, if Emery serves in a representative capacity for Frakking's Mining Corporation owners with regards to binding Frakking Mining to contracts, Emery is will be an agent and tend to have the authority.
Therefore the correct option is B.
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People grow in different ways in their business. Jeremy's firm is experiencing Sustained growth.
- Sustained growth often takes place when a state controls all monetary creation, set up a market-based exchange rate, and handles property rights.
For when a person experienced sustained growth for only a short timeframe, the increase in wealth inequality is likely to be greatest for the fast-growing economies.
The food company has increased steadily in its revenue without additional financial aid, and its growth is sustained.
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If the severity of risk is low and the frequency of the risk event occurring is high thanwe should Avoid the risk.
High Frequency/ High Severity- Risks are almost certain to occur and when they occur impact will be very high. In such a case it is best to use Avoidance as a risk management technique. If avoidance is not possible then prevention and insurance techniques can be considered. High frequency/ Low severity- This more serious risk and occurrence is high but the impact is low. Examples of such risks include workers’ injuries and shoplifting. A common way to manage this type of risk is through Prevention.
Low frequency/ High severity- The impact of these kinds of risks is very high and can bankrupt a business. Insurance is the best technique to manage these risks that have low loss frequency and high loss severity. Low frequency/ Low severity- Retaining and self-insuring the risk. Risk occurrence is low and impact is also very low. In most cases, the costs of managing them outweigh the cost of retaining them.
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Answer:
Explanation:
journal entries in the books of AXE
jan 6 purchased goods from Green worth $1200 term 2/10 , n/30
Inventory a/c $1200
Accounts Payable - green $1200
jan 6 purchased goods from munoz worth $900
inventory a/c$900
Accounts Payable - munoz $900
jan 14 Payment being made to green. Since payment is made within 8 days so discount will be recieved by Axe( note term 2/10 means if payment is made within 10 days axe will recieve discount @2%)
Accounts payable - green $1200
Cash $1,176
discount recieved $ 24
( being discount recieved [email protected]% = $24)
Feb 2 payment made to munoz , since it is paid after 10 days no discount will be recieved
Accounts payable- munoz $900
Cash $900
feb 28 purchased goods worth $350 from reynold
Inventory $350
Accounts payable - reynold $350
