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d1i1m1o1n [39]
3 years ago
10

Article 2 of the Uniform Commercial Code simplified and streamlined commercial transactions involving the sale of goods. Which e

lement of traditional contract law formation was modified or relaxed by the UCC
Business
1 answer:
melisa1 [442]3 years ago
8 0

Complete Question:

Article 2 of the Uniform Commercial Code simplified and streamlined commercial transactions involving the sale of goods. Which element of traditional contract law formation was modified or relaxed by the UCC?

a.         Requirement of consideration for contract modifications.

b.         Offers must have reasonably certain and definite terms to be valid.

c.          The terms of the acceptance must exactly match those of the offer (“mirror image rule”).

d.         All of the above.

Answer:

The element of traditional contract law formation that was modified or relaxed by the Uniform Commercial Code (UCC) is:

c.          The terms of the acceptance must exactly match those of the offer (“mirror image rule”).

Explanation:

The "mirror image rule" specifies that when a contract offer is accepted, the terms must be the same as those in the initial offer.  However, Article 2 of the UCC modified this "mirror image rule" by specifying that the offeree's acceptance is based on the offeror's terms unless otherwise specified by the offeree.  Any additional terms are regarded as some proposed additions and do not become part of the contract unless both parties are merchants.

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butalik [34]

It is called networking.

Networking is the informal social exchange of information and ideas between people who share a profession or a common interest. Networking frequently begins with a single point of commonality.

Networking is making use of personal, commercial, academic, or family relationships to help with a job hunt, attain career objectives, learn more about your industry, or another sector in which you'd like to work. Networking might help you learn about career prospects or gain access to a firm one want to work for.

Therefore, the answer is networking.

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6 0
2 years ago
Regarding competitive strategies, companies seek efficient manufacturing and productive employees to achieve ___________.
hoa [83]

Answer:

D. differentiation.

Explanation:

Option A - Low-cost leadership refers to the strategy in which the customers are getting the products at a low cost. Companies seek to achieve cost leadership, but with efficient manufacturing and productive employees cannot help them to achieve that.

Options B and C - With local employees, it is challenging to achieve global operation, and focused differentiation is the selling of unique products to the customers. So, those are wrong answers.

Option D - With the help of differentiation strategy, companies seek effective manufacturing and productive employees to attract customers to take their products from the thousands of products in the market. Therefore, it is the correct answer.

8 0
3 years ago
Claremont Company specializes in selling refurbished copiers. During the month, the company sold 180 copiers at an average price
Bess [88]

Answer:

B

Explanation:

Since the average copier was sold $3000

Budgeted 175 copier was sold $3200

Therefore $3000+$3200= $6200

6200*180=$1116000

We subtract it from the 180*$3000=$54000

$1116000-$540000

=$576000

4 0
3 years ago
W.C. Cycling had $55,000 in cash at year-end 2013 and $25,000 in cash at year-end 2014. The firm invested in property, plant, an
Vera_Pavlovna [14]

Answer:

This question requires us to calculate cash flows from operations and net income. Each of them is calculated as follow.

Cash flows from operations

Cash flow from operation comprises of cash generated or spend on core business related purchase and sale. It will be calculated as follow.

Cash from operations = 25,000 - 100,000 =($ 75,000).

Net income

Net income will be calculated using simple cashflow equation given below.

Closing cash balance = opening cashflow + net income + depreciation + cash flow from operations + cash flow investment + cash flow finance

25,000 = 55,000 + net income + 10,000 - 75,000 - 250,000 + 170,000

Net income = 115,000

7 0
3 years ago
after a bank reconciliation is completed, journal entries are prepared for items in the balance per company's records as well as
BaLLatris [955]

'After a bank reconciliation is completed, journal entries are prepared for items in the balance per the company's records as well as items in the balance per bank statement.

This statement is False.

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Bank reconciliation is the process of reconciling cash book data with corresponding data on bank statements. This is an important process for the CFO's office and ensures the accuracy of the accounting records.

Bank reconciliation is an important internal control tool and is necessary to prevent and detect fraud. It also helps identify accounting and banking errors by explaining the difference between cash balances on accounting records and bank balances on bank statements.

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7 0
1 year ago
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