Any more info about who Dave and Betty are? Any answer choices?
Answer:
The correct answer is option A) Statement of Concepts
Explanation:
The Financial Accounting and Standard Board (FASB) pronouncements intended to establish the objectives and concepts that the FASB will use in developing standards of financial accounting and reporting is Statement of Concepts.
Statement of Concepts is intended to serve the general interest of the public by setting the objectives, characteristics, specific qualities, and other parameters that guide selection of economic concepts that will be recognized and reflected in financial statements for financial reporting.
Statement of concepts guide the FASB in developing well researched and informed accounting principles that reflects the contents and inherent limitations that will be used in developing standards of financial accounting and reporting.
Price floor.
A floor, in real life, is at the bottom, below you — this then makes sense in business to say that a ‘floor’ represents the minimum value of something — in this case the price of video games.
In real life, a ceiling is above you, indicating that it could be used as a representative of a maximum value of something, like the price of a video game.
So, if we were to say that $120 was the ‘price ceiling’ for video games, then we would basically be saying that $120 is the most a video game could cost. If we were to say that $100 was the ‘price floor’ for video games, we would be saying that $100 is the minimum value that the price of a video game could assume.
If you want to make sure it's interesting, you have to cater your speech/talk to your target audience. This is good advice. A 15-page detailed Powerpoint presentation with note cards would do as much good when presenting to kindergarteners as a water hose would do good in a flood. But, say, it was a fire, then the water hose might come in handy. In our case, your boss at the business meeting would find your Powerpoint much more interesting than kindergarteners would.
Hope this helps! Have a nice day :)
Answer:
The most probable result is that the court will declare the contract invalid and non-binding because the purchase price and important terms regarding the consideration involve are too vague and indefinite.
In order for a contract to be considered valid and binding, consideration must exist and the more precise the terms, the better. Consideration is something of value that both parties exchange. In this case it is a house vs. money, but the price is not specified.
