<span>Chris may be able to recover money from the courts on the basis of quasi contract. A quasi contract is an obligation of one party to another imposed by law independently of an agreement between the parties.</span>
Answer:
$175,000
Explanation:
Calculation to determine West should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of
Using this formula
Gain on condemnation=Compensation for the forced sale-Book value
Let plug in the formula
Gain on condemnation=$450,000-$275,000
Gain on condemnation=$175,000
Therefore what should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of $175,000
Answer:
see below
Explanation:
A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.
Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.
