Answer:
Yes, because he was negligent in not ascertaining its contents
Explanation:
Based on the information provided regarding the scenario at hand it can be said that Yes, this contract is binding upon Thomas because he was negligent in not ascertaining its contents. Each individual is responsible for completely reading and fully understanding the contents of the contract before they sign. Once an individual signs the contract it means that they fully agree with all that is specified in the contract and are held liable. Thomas should have waited until he had his glasses and read the contract before signing, regardless of what Steven had to say.
The entries are as follows
<u>To record estimated returns on Sales</u>
Debit: Sales Refund Payable Account $142,800
Credit: Accounts Receivables $142,800
<u>To record estimated Cost of Sales returns</u>
Debit: Inventory Returns Estimated Account $85,400
Credit: Inventory on Sales on Returns $85,400
<u>Explanation:</u>
<u>To derive the figure for Sales Refund payable for the year</u>
7% of $2,040,000
=7/100*2040000= $142,800
<u>To derive the figure for Inventory cost on Sales Refund payable for the year
</u>
7% of $1,220,000
=7/100*1220000
= $85400
<span>In a situation where there is a case is of an employee being dismissed from a job, he/she is entitled to a fair hearing if he/she wishes. This is an example of rights-based ethics as well as justice-based ethics.</span>
Misusing company time.
Abusive behavior.
Employee theft.
Lying to employees.
Violating company internet policies.
Answer:
D) All of the above statements are true.
Explanation:
A. In a make-to-order environment, the forecasts tend to be for groups of products.
Make to order products are manufactured following the client's specifications. This type of product are not made one at a time, but are made in batches, e.g. 10,000 units of a certain door model.
B. If the lead time to buy raw materials is long, the forecasts go farther out into the future.
If you know that it takes longer to purchase raw materials or any other type of material, you must forecast the amount of material you will need for longer periods of time.
C. In a make-to-stock environment, forecasts tend to be more detailed and can get down to specific individual products.
Make to stock purchases are done to match your expected sales volumes, so if you estimate your sales of product Y to be 200 units, then you will forecast the purchase of 200 units of that product.
