It is an example of unilateral contract.
A unilateral contract expressly states that payment will be made solely via the performance of one party.
A unilateral contract is a business arrangement in which an offeror commits to pay when a certain act occurs. A award or a contest is another example of a unilateral contract. In a unilateral contract, the offeror has the right to rescind the offer before the offeree starts performing. Typically, the revocation must be expressed.
In general, unilateral contracts are utilized when an offeror has an open request for payment for a specific conduct.
Therefore, the answer is unilateral contract.
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True.
However, the question should be clear it is a free market where market forces rule, therefore a shortage will cause some consumers to be willing to pay higher prices and producers will see benefit and revenue, thus producing more and resolving the shortage.
Answer:
Option (a) and (c) are correct.
Explanation:
We know that rent control is an example of price ceiling. If the price of apartments set below the equilibrium price level then there is increase in the demand for apartments. So, the demand for apartments exceeds quantity supplied at the prevailing market price.
(a) Therefore, the quality of rental housing falls because of the lower price of the apartment. As this will become less profitable for the landlords, so they are least interested in the maintenance of the apartments.
(b) This will also lead to develop black market. The landlords are trying to fool the higher authorities and rent their apartments at a higher cost because this will be done without any type of legal documentation of the apartments or results from the manipulation of the rules.
Answer:
A. A $16,000 cash inflow in the investing activities section of the cash flow statement.
Explanation:
The gain on sale of asset is,
Gain on disposal = Selling price - Net Book value of asset
Gain on disposal = 16000 - (44000 - 32000) = $4000
However, this gain is a non cash item as it is only reported on the books and there is no cash inflow or outflow that relates to this gain. Thus, option C and D become invalid as there is no cash related to this disposal gain as it is merely a book item.
A sale of asset doesnot increase but rather decrease total assets so option B become invalid. The correct answer is A as the asset is being sold for 16000 thus a cash inflow of 16000 is taking place.
