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deff fn [24]
3 years ago
14

Macro Marketing, Inc., and National Food Corporation (NFC) discuss the terms of a contract. Macro then faxes NFC a memo on Macro

's letterhead that summarizes the items on which they agreed, including a two-year term. Macro begins to perform, but NFC refuses to pay. Macro files a suit to collect. NFC claims that there is no contract. The transaction between Macro and NFC falls within the:_______
Business
1 answer:
BlackZzzverrR [31]3 years ago
5 0

Answer: Statute of Frauds

Explanation:

The statute of frauds is a legal concept whereby it is required that certain forms of contracts have to be executed in writing. In this case, when there is a breach of the contract by one of the parties that are involved, then a the defendant can raise the statute of fraud as a defense.

In the question, we are told that Macro Marketing, Inc., and National Food Corporation (NFC) discuss the terms of a contract. Macro then faxes NFC a memo on Macro's letterhead that summarizes the items on which they agreed, including a two-year term. Then, Macro begins to perform, but NFC refuses to pay. Macro then files a suit to collect but NFC claims that there is no contract. It should be noted that the transaction between Macro and NFC falls within the statute of fraud

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How is the economy likely to be affected if a democracy becomes an oligarchy ​?
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The answer to this question is: <span>Upper classes in power are likely to become richer at the expense of others
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5 0
3 years ago
On September 1, Ziegler Corporation had 53,000 shares of $5 par value common stock, and $159,000 of retained earnings. On that d
Nady [450]

Answer:

No entry is made for this transaction

Explanation:

Given:

The liability side of a balance sheet:

In this scenario, Ziegler Corporation split his shares, a 2-for-1 stock split.

According to company law, there is no Particular entry will be made for split share, because it has no impact on the total equity amount.

Only a memo entry will be created to recognize this type of transaction.

3 0
3 years ago
Negative transfer is said to have occurred when: a. A trainee dislikes the training sessions b. A trainee's performance declines
brilliants [131]

Answer: B) a trainee's performance declines after training

Explanation: Negative transfer occurs when previous learning hinders further learning. It is best defined as the interference of previous knowledge with new ones, wherein the new set of knowledge could hurt the performance of a new often related knowledge. A typical example could be changing from a right-handed to a left-handed wheel drive or from a manual to an automatic transmission. Negative transfer usually is problematic during the early stages of learning a new task but with experience, learners can correct the effects of negative transfer.

6 0
3 years ago
Read 2 more answers
What are the accounting differences between cash and receivables from the perspective of a buyer? A seller? How are these differ
bogdanovich [222]

Answer:

From a buyer's perspective, a sale made on credit represents a liability. While a sale made on cash represents a decrease of current assets.

From a seller's perspective, a sale made on credit or cash increases current assets, but the possibility of a bad debt always exist, therefore, accounts receivables must be periodically adjusted due to bad debts.

If the seller or buyer uses accrual accounting system, the previous description holds, but if they use cash basis accounting, things change a lot. When use cash basis, transactions are recorded only when cash is exchanged, so accounts receivables do not actually increase assets (seller's perspective), and accounts payables do not increase liabilities (buyer's perspective).

6 0
2 years ago
The yield on a one-year bond is currently 3% and the expected yield on one-year bonds for the next two years is 5% and 4%. If th
sveticcg [70]

Answer:

5.75%

Explanation:

The computation of the  yield on a bond with three years to maturity is shown below:

Given that

Yield on a one-year bond is 3%

The expected yield on one-year bonds for the next two years is 5% and 4%

And, the liquidity premium is 1.75%

So, the yield on a bond with three years to maturity is

= (3% + 5% + 4%) ÷ 3 years + 1.75%

= 4% + 1.75%

= 5.75%

4 0
3 years ago
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