This question is incomplete because the options are missing; here is the complete questions:
Ian Sanders offered to sell his car to Beth Jones for $5,000. Subsequently, Beth demanded that he provide new seat covers for the car as she was paying a rather heavy price for the car. Beth's response represents a(n) ________.
A. Inquiry regarding terms
B. Rejection of the offer
C. Conditional acceptance of the offer
D. Additional term
The correct answer to this question is D. Additional term
Explanation:
In a contract, the terms refer to the specific conditions or obligations the parties involved accept. These terms are usually registered in a document as not following the terms has legal consequences. In the case presented, the answer of Beth represents an additional term because the purpose of her answer is to include a new condition or obligation that the seller of the car should accomplish as part of the agreement between seller and buyer.
Answer:
The correct answer is option C.
Explanation:
The production possibility curve shows the maximum possible bundle of two goods that can be produced using all the available resources and state of technology.
Since the resources are scarce, when we produce more of one good, we need to sacrifice more and more of the other good.
If all the resources in the economy are fully employed then it is not possible to increase the production of one good without decreasing the production of the other.
The economy can thus produce either on the production possibility curve or below it but not above it.
CIO is the correct answer
Answer:
Explanation:
New selling price = $110 - $10
= $100
New sales level = 1,000 units x 150%
= 1,500 units
Net operating income = 1,500 units × Selling price of $100 per unit - 1,500 units × variable expense of $60 per unit - $30,000 + $5,000
= $25,000
Therefore, the net operating income after the changes is $25,000.
Answer:
The correct word for the blank space is: expense recognition principle.
Explanation:
The expense recognition principle establishes when expenses and revenues must be recorded in the accounting books of a company. Under the accrual basis of accounting method, revenues are recognized when earned and expenses whenever consumed. While using the cash basis accounting method, revenues are recognized when earned and expenses when they are paid to suppliers not when invoices are sent.
In both cases, <em>expenses and revenues are recognized during the same period when they take place. That is the reason why the direct write-off method fails to fulfill the expense recognition principle because bad debt can be recognized as an uncollectible account not necessarily in the same period where the debt instrument was issued.</em>
