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m_a_m_a [10]
3 years ago
7

Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre’s Soup Spoons Bistro with Dierdre’s payment

due on August 1. On August 1, her bank is closed, and for this reason, she claims that she cannot pay on time. In this situation:
a. ​Dierdre is in breach of contract.
b. ​Dierdre’s bank is liable to Contractors Service.
c. ​the contract is suspended.
d. ​the contract is discharged.
Business
1 answer:
lakkis [162]3 years ago
5 0

Answer:

a. ​Dierdre is in breach of contract.

Explanation:

Breach refers to not filling the duty as mentioned in the contract and then legally not following the contract.

When a contract is made, then there is bound to complete the act contracted, by both the parties,

This is because the contract binds both the parties.

Here, in the given instance Contractors Service Inc. is bound to build the restaurant for Dierdre's Soup Spoon Bistro.

In return the contract binds Dierdre's Soup spoon Bistro to make payment on 1 August.

Thus, in case if the bank is closed on 1 August, the payment shall have been made on 31 July.

Or in case there is some clause inserted in the contract allowing payment some other day in case of banks not working on the contract date.

Thus, this is breach of contract.

Since it did not completed its duties.

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A firm's current profits are $400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent. I
Valentin [98]

Answer:

A. $21,200,000

B. $20,800,000

Explanation:

A. Calculation to determine The instant before it pays out current profits as dividends

Value of the firm =[(Current profits) × (1 +Opportunity cost of funds)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.06)]÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.06)]÷0.02

Value of the firm= $424,000 ÷ 0.02

Value of the firm= $21,200,000

Therefore The instant before it pays out current profits as dividends will be $21,200,000

B. Calculation to determine The instant after it pays out current profits as dividends

Using this formula

Value of the firm =[(Current profits) × (1 +Constant growth annual rate)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.04)] ÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.04)] ÷ (0.06 - 0.04)

Value of the firm= $416,000 ÷ 0.02

Value of the firm= $20,800,000

Therefore The instant after it pays out current profits as dividends will be $20,800,000

3 0
3 years ago
Fore Farms reported a pretax operating loss of $137 million for financial reporting purposes in 2021. Contributing to the loss w
Brums [2.3K]

Answer: Hello your question is incomplete attached below is the complete question

answer:

1) attached below

2) Net operating income ( loss )  = - $104 million

Explanation:

Pretax operating loss = - $137 million

Non deductible Losses ; $5 million fine paid in 2021 ,

estimated $12 million loss from contingency that will be tax deductible in 2022

Enacted tax rate = 25%

Taxable operating income = - $120 million

attached below is the solution

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They were totally excited to be getting a new system. It would allow them to conduct a remote discussion of the budget with the
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Answer:

The correct answer is letter "C": They were excited about the video conference system.

Explanation:

In order to make sentences more professional and direct, they must be objective. It implies any point of view, perspective, comment, or any subjective piece of information should be deleted so the statement is unbiased. By doing this, we avoid exaggerations or misunderstandings from the author.

In the sentence:

  • <em>They were </em><u><em>totally</em></u><em> excited to be getting a new system. </em>

We should delete "totally" which is an individual perception of the author. Then:

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Jasmine wants to enter a career with median earnings of at least $33,500, but she doesn’t want to go to college. Which of the fo
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A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.

Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.

Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.

This ultimately implies that, managerial accounting is specific to a particular business organization i.e the managerial accounting model used by a company would be different from the one used by another.

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