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just olya [345]
2 years ago
12

A requirements contract is too vague to be a legally-enforceable agreement. Group of answer choices True False

Business
1 answer:
Akimi4 [234]2 years ago
6 0
FALSE

i hope this helps you :)
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Altoid Company sold most of its inventory produced during the period. The manager needs to close the $1,200 balance of Manufactu
Likurg_2 [28]

Explanation:

The journal entry to close the books is

Cost of Goods sold A/c Dr $1,200

       To Manufacturing Overhead A/c $1,200

(Being the under-applied overhead is recorded)

Since the jobs were undercosted, that means the overhead is applied under overhead so we debited the cost of goods sold account and credited the manufacturing overhead account. Both the items are recorded for $1,200

5 0
3 years ago
On July 1, 2020, Ayayai Co. pays $15,420 to Pina Insurance Co. for a 3-year insurance policy. Both companies have fiscal years e
rodikova [14]

Answer:

July 1, 2020

Dr. Prepaid Insurance $15,420

Cr. Cash __________ $15,420

December 31, 2020

Dr. Insurance Expense_$2,570

Cr. Prepaid Insurance _$2,570

Explanation:

Prepaid Expense is the payment of an expense made before it accrued ( means advance payment of an expense ).

As Ayayai Co. paid the 3 years insurance in advance. It is the form of prepaid insurance. Prepaid insurance will be charged to the insurance expense account with the passage of time.

On July 1

The cash is paid so, the cash account will be credited because it is an asset account that has a debit nature. To reduce its balance we need to credit it.

On the other hand, cash is made against the advance payment of insurance for three years, prepaid insurance account will be debited because it is an asset account that needed to be debited to record this.

December 31

The Insurance expense for 6 months is accrued and it needs an adjusting entry to record the expense.

To record Insurance expense, the insurance expense account is debited and on the other hand to reduce the balance of prepaid insurance by the accrued expense value prepaid insurance account is credited.

Insurance expense = $15,420 x 6 / ( 12 x 3 ) = $2,570

3 0
2 years ago
Constance tells Jill, her best employee, that: "Your work is so good, if I like what you do over the next six months, I’ll give
frozen [14]

Jill will not win because this is an illusory promise without consideration.

<u>Explanation:</u>

Even if Jill sues his boss Constance for not giving him the bonus that she had promised to give if her employee, Jill works with great focus and dedication, he will probably not win the case.

The reason for this is that it was just a promise and not a contract signed between that employer and that employee. It was just an illusory promise which is not enough to sue the person or the employer. So there was no benefit of doing it.

7 0
3 years ago
A correlation coefficient shows that alcohol consumption and driving accidents are indeed related. as a result, a researcher cou
weeeeeb [17]

I believe the answer is: the number of driving accidents a person has will go up or down based on the number of  alcoholic drinks consumed

Consuming alcohol would impair the overall function of your brain. This would make your reflex time become significantly slower compared to your capability before consuming the alcohol. Because of this slower reaction, the risk of being involved in driving accidents would also be increased.

5 0
3 years ago
Last month your average daily rate was $76.99, and you had 2,932 rooms occupied. You want to know how this compares to the same
poizon [28]

Answer:

85 less rooms this year than last

Explanation:

The number of rooms (n) occupied for this month last year is given by the Room Revenue ($231,470) divided by the daily rate ($76.72):

n=\frac{\$231,470}{\$76.72}\\n=3,017\\

The number of rooms occupied last year is larger than the number of rooms occupied this year by:

\Delta n = 3,017-2,932\\\Delta n = 85\ rooms

The hotel occupied 85 less rooms this year than last.

7 0
3 years ago
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