Answer:
a. Dr Inventory $10,000
Cr Accounts payable $10,000
b. Dr Accounts payable $10,000
Cr Cash $9,800
Cr Inventory $200
Explanation:
Preparation of the Journal entries Under a perpetual inventory system,
a. Dr Inventory $10,000
Cr Accounts payable $10,000
( To record purchase of merchandise)
b. Dr Accounts payable $10,000
Cr Cash $9,800
($10,000-$200)
Cr Inventory $200
(2%*$10,000)
( To record payment for merchandise)
Discount amount = Amount due x Discount percentage
Discount amount= 10,000 x 2/10
Discount amount= $200
Answer:
False advertising and deceptive business practices. Consumer fraud issues. Predatory lending and financial scams. Issues regarding product safety and defects.
The ethical relativism principle represents that there is no means to identify between right and wrong in morality, while the moral relativism principle declares that there is no manner to differentiate between right and wrong in morality.
<h3>What is ethical and Moral relativism?</h3>
Morality is said to be relative to one's culture's norms, according to ethical relativism. To put it another way, the moral rules of the society in which a process is carried out decide whether it is proper or wrong.
A morally correct behavior in one civilization may be ethically incorrect in another. Acceptance of a fact-value gap has driven most kinds of ethical non-cognitivism, such as moral relativism.
Moral relativism, unlike ethical non-cognitivism, does not deny that moral assertions can be true; rather, it denies that they can be made true by an objective, transcultural moral order.
Therefore, the ethical and Moral relativism are the correct answers of the given problem.
Learn more about the morality, refer to:
brainly.com/question/13324831
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The correct answers to the questions are as follows:
1. NO, SPECIFIC PERFORMANCE ARE NOT ALLOWED IN THIS CASE BECAUSE MONEY DAMAGES ARE AVAILABLE.
When a party to a contract refuse to fulfill the terms of a contract, there are two forms of punishments that can be imposed on such an offender. It is either the court force the offender to perform the tasks expected of him or he can be asked to pay financial fines, which represents the damages incurred as a result of abandoning his work. In the question given above, money damages option is available, so Spud does not necessarily have to be forced to complete the job.
2. The correct answer is this: NO, SINCE BREACHING A CONTRACT IS USUALLY HELD TO BE A BUSINESS DECISION [NOT AN ACTION OF MORAL TURPITUDE] PUNITIVE DAMAGES ARE RARELY AWARDED IN CONTRACT CASES.
Punitive damages are damages imposed by the court of law, which are targeted at differing an offender and others from engaging in conducts that are similar to that which formed the basis of the concerned lawsuit. Punitive damages are usually awarded if the court feels that the compensatory damages awarded is not enough to compensate the injured party. Punitive damages are only awarded in special cases and usually under tort law; punitive damages generally can not be awarded in contract disputes.
