Answer:
Q1 : a. discharges mutual from the contract.
Q2 : a. a material breach
Explanation:
Neil is hired by Mutual company for a two year contract. Neil has certain duties which he has to fulfill during the employment term. Neil is often absent without any proper explanation and reason. This is against the term of employment contract. When he is in the office he is not attentive and is not able to manage the mutual investments. Neil is doing a material breach since he is not fulfilling the basic requirements.
Answer:
Uniform cost capitalization rules
Explanation:
Uniform capitalization rules of the Internal Revenue Code Section 263A specifies certain cost of labor, material, other direct and indirect cost to be capitalized and reported as inventory cost. Under this rule, all cost incurred in producing an asset, whether direct cost or indirect cost must be capitalized. The rule is to address the differences in assessment between those that manufacture their assets and those that buy outright.
Answer:
task environment
Explanation:
In simple words, task environment refers to the parties that are involved in the activities of the organisation which can affect that organisations goals and objectives.
In other words, task environment can be termed as the group of all the stakeholders effecting and getting effected by the business activities of an organisation. Competitors, labor force, suppliers and customers are some of he many example of constituents of task environment.
Answer:
Deferred Revenue account for the gift cards will show a balance of $1,100.
Explanation:
This $1,100 is the balance from the November 15 sales of $1,650 for which $165 and $385 were redeemed in November and December respectively.
The unredeemed balance of $385 from October 15 sales would be written off as uncollectible since Peterson views the probability of redemption as remote after two months.
It is prudent, therefore, to exclude $385 from deferred revenue account.
