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Burka [1]
3 years ago
5

Jack is buying the Padillas' home. He makes his offer and in his terms states, he wants all the window treatments, refrigerator,

and microwave to be part of the sale. The Padillas accept his offer on the condition that the refrigerator is the only item that stays in the home.
Which contract term applies?

a) Implied Agreement
b) Novation
c) Counteroffer
d) Option
Business
1 answer:
gogolik [260]3 years ago
5 0

Answer:

c) Counteroffer

Explanation:

A counteroffer determines this when an offer is being created for the purpose of the earlier offer by another person during the negotiation for creating the ending contract. To make the counteroffer is to reject the previous offer and is created under the terms of the counteroffer or there will be no contract.

Here according to the given scenario, Jack makes the offer in the condition that he needs only microwave, refrigerator, and window treatment and this will be a sale part. Now, Padilla who is selling the home is accepting the terms of Jack with the condition that the refrigerator will remain in the home. So, this case is called the counter offer.

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4 years ago
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year t
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Answer:

Net income for the year = $257,000

Explanation:

Retained earnings for the year= Net income - dividends paid.

Since no dividends were paid, retained earnings for the year = net income for the year. At the end of each accounting period, retained earnings are reported on the balance sheet, and the retained profits for the year are added to the beginning balance of retained earnings, to give a cumulative ending balance of  $2,499,000.

therefore retained earnings for the year = ending retained earnings balance  - beginning retained earnings balance = $2,499,000.-$2,242,000= $257,000.

Net income for the year is  thus =  $257,000 since no dividends were paid.

6 0
3 years ago
Using+a+50/50+debt/equity+mix,+a+1%+reduction+in+which+cost+of+capital+category+would+drive+a+larger+reduction+in+wacc?
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2 years ago
explain the difference between a change in quantity demanded and a change in demand. Provide a real world example of a factor th
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Answer:

A change in quantity demanded is caused by a change in price only. That is, when price rises quantity demanded falls vise versa

A change in demand occurs when there is a shift in the demand caused by a change in other determinates of demand other than price such as change in income, change in taste and fashion, demographic changes etc.

Explanation:

Real word example of change in demand :

Changing Tastes or Preferences

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Simply put it this way> Change in quantity demanded : Price change, quantity demanded change

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