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3 years ago

A provision requiring a construction contractor to pay $300 for every day it is late in completing the construction contract is:

Business

1 answer:

jasenka [17]3 years ago

7 0

Answer:

liquidated damages provision.

Explanation:

Liquidated damages can be regarded as one that is been presented in some particular legal contracts which is an estimate of otherwise intangible to one of the party or hard-to-define losses. It can be regarded as a provision which give room for the payment of a specified sum in case there is breach of contract by one of the parties. It can be regarded as contractual provision set up so that a party in breach will need to make a payment of pre-determined amount , which serve as compensation for failure by breaching partyin performing particular obligation.

For instance, provision requiring a construction contractor to pay $300 for every day it is late in completing the construction contract is liquidated damages provision.

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Wright Company's cash account shows a $29,300 debit balance and its bank statement shows $27,600 on deposit at the close of busi

IgorLugansk [536]

Answer:

Bank Reconciliation Statement:

Calculation of Adjusted cash Balance on 31 May:

Cash Balance: $ 29,300

less: Bank Charges $ (190)

less: NSF Check $ (420)

Adjusted cash Book Balance $ 28,690

Add: Outstanding Checks $ 6,500

Less: Uncleared Checks $ 7,100

Revised Cash Book Balance (A) $ 28,090

Bank Statement Balance $ 27,600

Add: Error by Bank $ 490

Adjusted Bank Balance (B) $ 28,090

Explanation:

Bank reconciliation is a company document prepared in order to reconcile difference between balance as per cash book and balance as per bank statement.

The difference arise because of two reasons:

Timing differences (Outstanding checks and Uncleared checks
Error and Omissions. (Bank charges -NSF)

6 0

3 years ago

Why do people need to buy and sell products or services answers?

blagie [28]

It is on account of nobody is independent.A service is the creation of a basically elusive advantage, either in its own particular right or as a critical component of a substantial item, which through some type of trade, fulfills a distinguished need.

4 0

3 years ago

Net loss can be thought of as a __________ to the Capital account. Debit Credit

xz_007 [3.2K]

Answer:

The answer is Credit.

Explanation:

Net loss can be thought of as a Credit to the Capital account.

6 0

2 years ago

"Ethan knows that when he graduates from college and begins looking for a job, he will need to make his resume stand out from al

kakasveta [241]

Answer:

Communicating value

Explanation:

Communicating value involves showing others what makes one's product or skills different and better than others that are available.

What value means to stakeholders in a situation needs to be defined.

Focus is then given to how the skill or product can meet these unique needs.

Also one needs to understand the most effective platform to use in communicating value.

In this instance Ethan wants to make his resume stand out from all the other resumes that the company receives in order to be selected for an interview

He is communicating the value he can add to the company.

5 0

3 years ago

If Hazel decides to sell the best ice cream on earth, and intends to establish a strong ethical climate in her organization, dur

statuscvo [17]

Answer: Planning

Explanation: Planning refers to the process of setting goals and procedures and determining the need of resources to accomplish those goals.

In the given case, Hazel has already set her goal of providing the best ice cream in the market. Now she needs to set the procedures of how she can do so in an ethical manner. She has to determine the processes and rules she need to make to achieve the objective of ethical culture in her organisation.

Hence from the above we can conclude that in the planning phase.

8 0

3 years ago