Answer:
Express.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.
An express contract can be defined as a type of contract in which the terms binding on the two parties are either explicitly stated in writing or orally, or a combination of both.
In this scenario, Angelica signed a contract to work for Acme Global. The contract described the terms of her employment, including her pay and benefits. Thus, Angelica signed an express contract because the exchange of promise is stated explicitly in writing and it's a legally binding agreement on the two parties (employer and the employee).
Answer:
Effect of Transaction on Cash Flows
Effects Amount
1. Cash Payment $239,000
2. Cash Receipt $252,000 (12000*$21)
3. Cash Receipt $91,400
4. Cash Payment $491,000
5. Cash Payment $86,000
6. Cash Receipt $188,100 (190,000*0.99)
7. Cash Payment $353,400 (6,200*$57)
8. Cash Payment $36,100 [1.90*(23,000-4,000)]
Answer and Explanation:
The effect of undervaluation of Inventory is shown below:-
Inventory Understated = Inventory counted + Correct value of inventory
= $545,000 - $554,000
= $9,000
Now, the effect of undervaluation of Inventory is
Cost of goods overstated by $9,000
Net income understated by $9,000
Retained earning understated by $9,000
Assets (Current assets - Inventory) understated by $9,000
Answer: The advertising strategy used is product placement.
Explanation:
Product placement also called embedded marketing, is a form of advertising technique which involves referencing a specific brand/product done by incorporating it into another work, such as a movie or television show, with specific intent to promote the product.
product placement is the intentional incorporation of references to a product/brand in exchange for compensation or cash payment .
Product placements may range from appearances not attracting attention within an environment, to major integration and acknowledgement of the product within a program or a show.
Common categories of products placed on product placements include automobiles, consumer electronics, beverages(in the case of the example), drinks, clothing.
Answer:
The correct answer would be, $70500
Explanation:
Raw Material Turnover means what amount of raw materials is used within a specific period of time. So the raw material turnover would be calculated by adding the beginning inventory with the amount of material used within the period, and then the remaining material will be deducted. So the whole calculations are shown as follows:
Beginning Raw Material Inventory: $5000
Raw Material Used: $71500
Ending Raw Material Inventory: $6000
Raw Material Inventory Turnover:
Beginning Inventory + Raw Material Used - Ending Raw Material
= 5000+71500-6000= $70500
