All categories

4 years ago

The act of buying and selling collectively form a contract. True or False

Business

1 answer:

lutik1710 [3]4 years ago

6 0

Answer:

The given statement is True, The act of buying and selling collectively form a contract.

Explanation:

It is a general concept that whenever a thing is sold, there must be a buyer to buy it, which means that for every selling product, there will be a buyer. Without the presence of a buyer, nothing can be sold. So commonly the process of selling and buying involves two parties. So when the act of buying and selling takes place, we can say that a contract is formed which tells us the deed between both parties and give information about the buyer as well as the seller. So the act of buying and selling collectively form a contract which tells us that who is selling to whom and what is being sold and at what price with the consent of both parties.

You might be interested in

In 2019, Pine Corporation had losses of $20,000 from operations. It received $180,000 in dividends from a 25%-owned domestic cor

zubka84 [21]

Answer:

Consider the following calculations

Explanation:

Net income per books $65,000

Add back:

Federal income taxes 9,700

Excess contributions 3,000

Life insurance premiums 10,000

$87,700

Subtract:

Tax-exempt interest (1,500)

Excess depreciation (4,500)

Taxable income $81,700

Dividend received deduction = 160000 x 80% = 128000 (full DRD doesn't create loss).

DRD will be 80% of taxable inome because percent partnership is 25% which is between 20 to 80%.

7 0

3 years ago

An aging of a company's accounts receivable indicates that $3,000 are estimated to be uncollectible. If Allowance for Doubtful A

vodomira [7]

Answer: The correct answer is b. debit to Bad Debts Expense for $1,800.

Explanation: The company adopts the aging bad debt method on receivable. The aging method is a way of classifying receivables as uncollectible based on the length of time the receivables have been outstanding and the probability of recoverability of such receivables.

To make a provision for bad debt expense: debit is passed to bad debt expense while credit is passed to allowance for doubtful accounts. The bad debt expense reports to the income statement while allowance for doubtful accounts reports to the balance sheet (statement of financial position). Based on the question, the allowance for doubtful accounts has a credit balance of $1,200; however, $3,000 was estimated to be uncollectible. In order to restate the amount to $3,000, we need to debit bad debt expense and credit allowance for doubtful accounts with $1,800 ($3,000 - $1,200).

7 0

4 years ago

Why is it important to study the ‘post- purchase evaluation'?

sukhopar [10]

Answer:

Research shows that customers often find a gap in their expectations versus what the company actually delivers as an experience. Creating positive post purchase customer experience is a great way for companies to build a relationship with their customers, and build engagement and loyalty for their products and brand.

3 0

3 years ago

Lincoln Park Co. has a bond outstanding with a coupon rate of 6.04 percent and semiannual payments. The yield to maturity is 6.1

Reil [10]

Answer:

value of the bond = $2,033.33

Explanation:

We know,

Value of the bond, $B_{0} = [I * \frac{1 - (1 + i)^{-n}}{i}] + \frac{FV}{(1 + i)^n}$

Here,

Face value of par value, FV = $2,000

Coupon payment, I = Face value or Par value × coupon rate

Coupon payment, I = $2,000 × 6.04%

Coupon payment, I = $128

yield to maturity, i = 6.1% = 0.061

number of years, n = 15

Therefore, putting the value in the formula, we can get,

$B_{0} = [128 * \frac{1 - (1 + 0.061)^{-7}}{0.061}] + [\frac{2,000}{(1 + 0.061)^7}]$

or, $B_{0} = [128 * \frac{1 - (1.061)^{-7}}{0.061}] + [\frac{2,000}{(1.061)^7}]$

or, $B_{0} = [128 * \frac{0.3393}{0.061}] + 1,321.3635$

or, $B_{0} = [128 * 5.5623] + 1,321.3635$

or, $B_{0} =$ $711.9738 + 1,321.3635

Therefore, value of the bond = $2,033.33

3 0

3 years ago

Universal Containers wants customers to have the ability to log cases with structured data and route based on Urgency and Produc

Feliz [49]

Answer:

The correct answer is letter "A": Standard Email-to-Case with assignment rules.

Explanation:

Salesforce is a Customer Relationship Management software that helps businesses to connect with their clients and obtain more information about them. Salesforce services allow companies to use cloud technology to follow-up on clients' activities, optimize marketing strategies and coordinate new service sales.

The Email-to-Case e-mailing feature allows clients to create cases and alerts when customers send messages to the e-mail address the company assigns for this according to the purpose the firm wants to give to this box.

7 0

3 years ago