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Burka [1]
3 years ago
9

American Products Company and Best Manufacturing, Inc. (BMI), enter into a contract for the sale of a certain quantity of machin

e parts, with BMI to determine the price. The price must be fixed according to the concept of ______.
Business
1 answer:
Alex_Xolod [135]3 years ago
8 0

Answer:

Good Faith

Explanation:

Based on the information provided within the question it can be said that the concept being mentioned is called Good Faith. In the context of business contracts this term refers to both parties that enter into a contract together dealing with each other honestly and fairly. Keeping the contract price at a fixed price is part of this since, it allows both parties to know how much one is paying and the other is receiving, if the price is able to fluctuate it can blindside the other party and cause problems or misunderstandings.

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7 0
3 years ago
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company purchased factory equipment on June 1, 2013, for $80,000. It is estimated that the equipment will have a $5,000 salvage
mylen [45]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The company purchased factory equipment on June 1, 2013, for $80,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 10-year useful life.

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