which of the following is necessary in order to establish that a mutual mistake involving a basic assumption about the subject matter of a contract was made? question 44 options: the mistake involved a misunderstanding regarding the applicability of the uniform commercial code (ucc) to the contract the mistake involved the existence, quality, or quantity of the items to be exchanged the mistake involved the identity of parties to the contract or whether a party misunderstood the time constraints involved in the contract the mistake involved whether a party could profit from the contract the mistake involved whether a party could profit from the contract or whether a party misunderstood the time constraints involved in the contract

Answers

Answer 1

a mutual mistake involving a basic assumption about the subject matter of a contract was made the contract the mistake involved the existence, quality, or quantity of the items to be exchanged.

What is a mutual mistake in contract law?When both parties to a contract are erroneous regarding the same crucial piece of information, this is known as a mutual error. They disagree with each other. Although the parties are in agreement, they are in error.The situation in which all parties to a contract are "mistaken" regarding a fundamental fact is a common error. The contract may be defective at law or, in some cases, voidable in equity if both parties had the same mistaken belief (such as that items were included in a sale of contract).

To learn more about mutual error refer,

https://brainly.com/question/13034538

#SPJ4


Related Questions

According to the Small Business Administration, a small business is an independent business with fewer than _____ employees
a. 500
b. 100
c. 50
d. 10

Answers

The Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees.

Generally speaking, a small business is a privately held corporation, partnership, or sole proprietorship with fewer employees and lower yearly income than a corporation or regular-sized business. The definition of "small" varies by country and industry in terms of being qualified for benefits from the government and favorable tax treatment.

The U.S. Small Business Administration establishes what qualifies as a small business based on a set of standards depending on specific industries. In comparison to mid-size and large firms, small businesses may be eligible for specific small business loans and are subject to some additional rules.

To learn more about small business refer here

https://brainly.com/question/13424073#

#SPJ4

in markets with imperfect information: question 10 options: buyers and sellers will use resources to acquire information before making decisions buyers will use resources to acquire information before making a decision, but sellers do not need to acquire additional information before making a decision sellers will use resources to acquire information before making a decision, but buyers do not need to acquire additional information before making a decision neither buyers nor sellers will be able to acquire information in order to make decisions

Answers

Markets can handle imperfect information in a variety of ways.In markets for goods, customers who have limited knowledge of the products might rely on money-back guarantees.

How do markets respond to imperfect data? Markets can handle incomplete information in a variety of ways.Buyers in markets for goods may rely on money-back guarantees, warranties, service contracts, and reputation when they have incomplete knowledge about the products they are purchasing.Uncertainty or ignorance can also contribute to inaccurate information.Information becomes another need or demand if the market participant is aware that better information is available.Information may be purchased through a business deal and turn into a commodity that costs the buyer or seller money.If the buyer or seller lacks sufficient knowledge, they will make decisions based on insufficient data and produce inefficient results, which will result in market failure.

To learn more about imperfect information refer

https://brainly.com/question/23455496

#SPJ4

Enright Industrial Leasing has effective control processes, allowing its managers to discover ________ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
irregularities and errors

Answers

Enright Industrial Leasing has effective control process, allowing its managers to discover irregularities and errors in bookkeeping right away, before a would-be embezzler could seriously affect its business.

The control process is the process in which the establishing standards and methods for measuring performance and measuring the performance.

In the control process, the business analysis is to determine whether performance matches the standard and taking the corrective action, in case there are discrepancies between actual performances and targeted goals.

The Enright Industrial Leasing has an effective control processes, allowing its managers to discover irregularities and errors.

To know more about control process here,

https://brainly.com/question/14326918

#SPJ4

Satisfying consumers' immediate needs and desires does not always serve the futurebest interests of either customers or the business.(T/F)

Answers

The answer is true. Strategic planning idea takes future business demands into account, whereas societal marketing concept examines the welfare of consumers in the future.

Sustainable marketing entails taking ethically sound steps to satisfy the needs of businesses and customers today while protecting or improving the ability of future generations to Strategic their own needs. The simplest strategy to boost sales and enhance profits in marketing is to fulfil client demands and wants. Finding what the customer wants and needs is the concept of desire in marketing. In order to persuade the consumer to purchase the goods, marketing tactics aim to satisfy various needs.

To learn more about demands, click here.

https://brainly.com/question/29761926

#SPJ4

which of the following reforms were part of the third wave of regulatory reforms that came in the 1960s and 1970s?

Answers

the groups hooked up have a broader mandate - the organizations established are much less likely to be influenced by a single industry  reforms were part of the third wave of regulatory reforms that came in the 1960s and 1970s.

What is institution of agencies?

A authorities employer may additionally be hooked up by using either a countrywide authorities or a nation authorities inside a federal system. Agencies can be hooked up by means of law or by govt powers. The autonomy, independence, and accountability of authorities businesses additionally fluctuate widely.

Why was once the organisation established?

The first administrative organization was once created with the aid of Congress in 1789 to furnish pensions for wounded Revolutionary War soldiers. Also in the late 1700s, corporations had been created to decide the amount of duties charged on imported goods, however it used to be not until 1887 that the first everlasting administrative organisation was created.

Learn more about regulatory reforms  here:

https://brainly.com/question/25701422#SPJ4

a party who claims that he or she could not understand contractual terms because of tiny, hard-to-read print on the back of an agreement and the excessive use of legalese is referring to which of the following? question 36 options: an in pari delicto agreement procedural unconscionability substantive unconscionability commercial impracticability adhesion conscionability

Answers

A party who claims that he or she could not understand the contractual terms because of tiny, hard to read print on back of an agreement and the excessive use of legalese is referring to procedural unconscionability.

Procedural unconscionability which refers to the unconscionability in how a contract was said to be formed between the parties. This is now said to result from one party having a significant advantage over the another, that is, bargaining power and intelligence.

So a party who claims that he or she could not understand contractual terms and the excessive use of legalese is referring to procedural unconscionability as it describes a condition which tends to impair one party's understanding of the contract.

Hence, the unconscionability derives from the process of making a contract.

To learn more about the procedural unconscionability here:

https://brainly.com/question/15082800

#SPJ4

___ refers to a team strategy that entails simultaneously emphasizing internal team building and achieving external visibility. Informing O Probing Liquidating Parading Crowdsourcing

Answers

Option D is correct, Parading refers to a team strategy that entails simultaneously emphasizing internal team building and achieving external visibility.

A team strategy is a planned, well-organized arrangement that helps the team achieve its objectives as a whole. Effective strategies need well-considered, practical parameters that the team as a whole builds.

You must give everyone an opportunity to speak in order to develop a successful strategic strategy. Organizing break-out sessions where participants can discuss their ideas in smaller groups or with a partner is one technique to encourage idea sharing and achieve external visibility.

Making a meaningful strategy involves learning how to establish a team strategy, including everyone in the strategic planning process, being realistic about your end goals and how you're going to get there, and communicating with your staff.

To learn more about team strategy, follow the below link:

https://brainly.com/question/12454127

#SPJ4

When a partnership is insolvent and a partner has a deficit capital balance, that partner islegally required to:A. declare personal bankruptcy.B. initiate legal proceedings against the partnership.C. contribute cash to the partnership.D. deliver a note payable to the partnership with specific payment terms.E. None of the above. The partner has no legal responsibility to cover the capital deficitbalance.Answer: C. contribute cash to the partnership.

Answers

When a partnership is insolvent and a partner has a deficit capital balance, that partner islegally required to: contribute cash to the partnership.

What happens when a partner's capital balance is negative?A capital account deficit in your company indicates that you are taking more money out of the account than you are putting in. You would have a capital account deficit of $2,000, for instance, if you deposited $10,000 to your capital account during the fiscal quarter but used $12,000 from it.If a partner's capital account is in the negative, they must pay the partnership the negative sum.Such a capital shortfall when one partner is bankrupt is a loss to the remaining partners who are solvent.A partner is legally compelled to: provide funds to the partnership when a partnership becomes bankrupt and one of the partners has a deficit capital balance.

To learn more about partnership refer to:

https://brainly.com/question/14034519

#SPJ4

consider the following information on the expected return for companies x and y. calculate the expected value and the standard deviation of returns for companies x and y.

Answers

The expected value and the standard deviation of returns for companies x and y is 23.44 and 9.2260


E(X) = Summation (X × p(x)) =27×0.24 +17×0.44 + (-29×0.32)

=6.48+7.48-9.28 =4.68

E(Y) = summation (Y × p(y) =11×0.24 +29×0.44+10×0.32

= 2.64+12.76+3.2 = 18.6

Standard deviation of X =summation (Xi - E (x)) ^2 ×p (X))



= Sqrt ((27-4.68) ^2 ×0.24 +(17-4.68) ^2 ×0.44 +(-29-4.68) ^2 ×.32)

=Sqrt (498.18×0.24 +151.7824×0.44 + 1134.34×0.32)

Sqrt (119.56+66.78+362.98)

=Sqrt (549.33)

=23.44

Standard deviation of y=

Sqrt ((11-18.6) ^2 ×0.24 +(29-18.6) ^2×0.44 +(10-18.6) ^2 ×0.32

=Sqrt (13.8624+47.5904+23.6672)

Sqrt (85.12) = 9.2260

Solution (b)

For more information on standard deviation visit:
https://brainly.com/question/475676
#SPJ4

the accountant at swiftly company is figuring out the difference in income taxes the company will pay depending on the chouice of either fifo or lifo as an inventroy costing method the tax rate is 30 and the fifo method will result in income before taxes of 8100

Answers

The typically raise that the tax difference between the two ways would be paid as follows: = 2,622 - 2,430 = 192.00.

What exactly is taxation?

Taxation is indeed the imposition of obligatory taxes on individuals or companies by governments in practically every country of the globe. Although it can be used for other things as well, taxes are typically utilized to raise money for government spending.

The importance of taxes.

Governments utilize the money they acquire through taxes to fund social projects, thus taxes are essential. Government initiative to the medical sector would not be possible without taxes. Social care, health research, social security, and other health-related services are all funded by taxes.

To know more about Tax visit:

https://brainly.com/question/16423331

#SPJ4

FILL IN THE BLANK. according to the text, economists are starting to understand that matter(s) just as much as to occupational success according to the text, economists are starting to understand that matter(s) just as much as to occupational success extroversion; conscientiousness social dynamics; personality dynamics personality traits; cognitive ability iq; cognitive ability

Answers

According to the text, economists are starting to understand that matter(s) just as much as occupational success according to the text, economists are beginning to understand that matter(s)  is personality traits.

The five broad personality traits defined by the theory are extraversion (also regularly spelled extroversion), agreeableness, openness, conscientiousness, and neuroticism. The 5 fundamental character trends is a concepts that evolved in 1949 through D. W.

Many present-day persona psychologists believe that there are 5 basic dimensions of personality, frequently called the "big five" personality traits. these five primary personality developments are extraversion (additionally frequently spelled extroversion), agreeableness, openness, conscientiousness, and neuroticism.

Learn more about personality traits here https://brainly.com/question/18782358

#SPJ4

the small business administration: lends exclusively to small business investment companies that in turn lend to small businesses makes only working capital loans lends to businesses with reasonable prospects of repayment but which cannot obtain credit through private channels makes loans at lower than market rates

Answers

Small business administration leads to businesses with reasonable prospects of repayment but which cannot obtain credit through private channels. Option C.

A term loan is one of the most common types of small business loans and is a lump sum payment of cash that is repaid over a period of time. Monthly payments are usually fixed and interest is added to the principal.

They offer short and long-term loan lines of credit cards and other small business debt options.  to better manage expenses and business fluctuations. There are two basic types of financing available for small businesses debt financing and equity financing. Banks and other credit institutions are a common form of debt financing for small businesses.

Learn more about Small business administration here:- https://brainly.com/question/28146757

#SPJ4

a is a representation of knowledge that helps us draw inferences based on semantic regularities in the world.

Answers

Semantic regularities are features connected to the actions taken in many kinds of scenarios. Perhaps the images we are seeing in our minds are constructed using meaningful patterns from earlier scenes.

Many of us frequently take up a book without any pictures and start imagining an adventure. The reader's mental picture of the events in the story changes with each page turned. But where do these pictures come from? Many people would assume that it is just our imagination creating images of what we want the story to convey. However, studies like the one conducted by Andrew Hollingworth in 2005 imply that it's possible that our ideas are a mirror of what we've already seen and what we anticipate seeing when specific scenarios are named or described. Semantic regularities are features connected to the actions taken in many kinds of scenarios.

Know more about imagination here:

https://brainly.com/question/14516625

#SPJ4

Counselors can encourage ethnic minority clients to learn skills they can use to interact successfully with various forces in their community by acting as their:

Answers

Counselors can encourage ethnic minority clients to learn skills they can use to interact successfully with various forces in their community by acting as their consultant.

Who in the UK is an ethnic minority?

Except for the white British group, all ethnic groups are referred to as "ethnic minorities" in this context. White minorities like the Gypsy, Roma, and Irish Traveler communities are examples of ethnic minorities.

Which ethnic minority is a good illustration of?

Numerous studies conducted in the United States have revealed stark and enduring disparities in health among racial and ethnic minorities (including Blacks/African-Americans, Hispanics/Latinos, Asians and Pacific Islanders, as well as American Indians and Alaska Natives) across a wide range of significant health indicators.

To know more about ethnic minority visit:

https://brainly.com/question/13032717

#SPJ4

calculate the payback period, if the cost to renovate a restaurant is $30,000 and the project will generate annual incremental cash flows of $15,000.

Answers

For the following case the payback period will be 2 years in which total cash flow will be recovered.

How long is the payback time, exactly?

The term "payback time" refers to the amount of years needed to recoup the initial monetary outlay. It is, in other words, the length of time that a machine, facility, or other investment has generated enough net income to pay its investment costs.

Briefing:

First year project will generate 15,000 then the next year incremental cash flow will also be 15,000. Total cash inflow at year 2 will be equal to cash outflow, this will be the payback period, period at which cash outflow is fully recovered.

To know more about the payback period visit:

https://brainly.com/question/13978071

#SPJ4

A delivery service places packages into large containers before flying them across the country. These filled containers vary greatly in their weight. Suppose the delivery service's airplanes always transport two such containers on each flight. The two containers are chosen so their combined weight is close to, but does not exceed, a specified weight limit. A random sample of flights with these containers is taken, and the weight of each of the two containers on each selected flight is recorded. The weights of the two containers on the same flight (a) will have a correlation of 0 (b) will have a negative correlation (c) will have a positive correlation that is less than 1 (d) will have a correlation of 1 (e) cannot be determined from the information given

Answers

Weights of the two containers on the same flight will have a negative correlation." So, the correct option is (b) will have a negative correlation.

A negative correlation may be a relationship between two factors in which an increment in one variable is related to a decline in the other.  The perfect negative linear correlation between two variables is indicated by a correlation coefficient of 1 or -1.

The correlation coefficient between the weights of the two containers will be less than 1 because there is some variation in the weights of the containers.

The two containers are regularly chosen so that their add up to weight is near to, but does not exceed the stipulated weight confinement. The suggestion is that if one container is heavier than normal, the other one must too be lighter.

Therefore, the weight of two containers on the same flight will have a negative correlation. Option b. is correct.

Learn more about correlation, here:

https://brainly.com/question/29978658

#SPJ12

1. When you compose a message, you want your audience to find the information it needs quickly and to understand it. Your message should be easy to read and comprehend.
Strategic use of white space improves document readability. Which of the following techniques employ white space? Check all that apply.
Using bulleted and numbered lists
Using headings
Using serif typeface
Using parallel structures2. A WIDE variety of typefaces are available for business writers. Different typefaces suggest different purposes and occasions.
True or False: This selection uses a serif typeface.
True
False
Headings are important for visual impact and readability. Which of the following sentences about headings are true? Check all that apply.
Headings often appear in business reports.
Headings should not be used in formal documents.
Headings increase the skim value of a message.
3. Read the following sentence, and determine which technique is most applicable to improve its readability.
Please follow these steps when filling out an expense report: begin by writing your name, date, and position; record the exact expense amount; and obtain your supervisor’s signature.
Developing parallelism for balance
Using numbered or bulleted lists
Using graphic techniques
Choose the heading that is best at highlighting information and improves readability.
Financial Analysis of ABC Corp.
The Truth About ABC Corp. Profitability

Answers

Using bulleted and numbered lists techniques employ white space. It will improve readability.

Tips on how to improve the readability of your writing: Use short, simple sentences, Use common, everyday words, Use active voice, Keep your paragraphs short, Use headings and subheadings, Use lists, Highlight key points and Use visuals.

Readability is the ease with which a reader can understand a written text. It is a measure of the clarity and comprehensibility of a text and is used to determine the level of difficulty of a text. The readability of a text can be affected by many factors, such as the length of the sentences, the use of jargon, and the level of difficulty of the subject matter.

Hence, the correct option is "FIRST".

To know more about readability, click here.

https://brainly.com/question/14922912

#SPJ4

Revenue generated by online TV and movies is expected to grow by nearly 30% between 2018 and 2021. Group of answer choices True False Millennials are the first generation to be born into the digital revolution of the twentieth century. Group of answer choices True False Which of the following magazines underwent a digital remaking following the introduction of a metered paywall in 2014? Group of answer choices The New Yorker Sports Illustrated Time Newsweek

Answers

1. True, Revenue generated by online TV and movies is expected to grow by nearly 30% between 2018 and 2021.

2. True, 1. Group of answer choices True False Millennials are the first generation to be born into the digital revolution of the twentieth century.

3. The New Yorker Sports  underwent a digital remaking following the introduction of a metered paywall in 2014

What is meant by digital remaking?

The act of employing digital technology to build new business processes, cultures, and customer experiences—or adapt current ones—in order to satisfy shifting business and market requirements is known as digital transformation. Digital transformation refers to this reinvention of company in the digital age.

Business executives must be willing to make significant changes as a result of digital transformation, even if those changes go against their current goals and convictions. Automation and data-driven insights may help a business realize that its current methods are ineffective or wrong.

Read more on Online Tv here:https://brainly.com/question/29238605

#SPJ1

kayla, a salesperson, suggests to her team that a straight-line routing plan would be most appropriate for their accounts. however, sandra disagrees and says the cloverleaf model would work best for their accounts. which of the following, if true, would strengthen kayla's argument?

Answers

If the statements made in the arguments that we have here, the truth would be that: Accounts are located in clusters that are some distance from one another.

Who is a salesperson?

A salesperson is someone whose primary responsibility is to sell goods or services. A different name for a salesperson is a sales rep (or sales representative). The terms salesperson and sales rep are sometimes substituted for the more traditional terms salesman and saleswoman. Both salespeople and salespersons are acceptable forms of the word's plural.

The salesman is in charge of welcoming customers, assisting them in finding what they're looking for in the business, and ringing up purchases. You need to communicate effectively if you want to succeed as a salesperson. Good salespeople achieve their goals while being courteous and helpful to their clients.

Read more on salesperson here:https://brainly.com/question/25586322

#SPJ1

The biggest difference between National Incident-Based Reporting System (NIBRS) and Supplementary Reporting system (SRS) is ______.

Answers

The biggest difference between National Incident-Based Reporting System (NIBRS) and Supplementary Reporting system (SRS) is  having communities safer.

The Supplementary Reporting system in the United States is not count in ordered can be submitted at a continued hearing and to provide the court with a new information about the reporting.

In the Supplementary Reporting system is the information which is used to collect monthly counts of the number of crimes known to law enforcement from many agencies in the United States.

A system that gathered information on each occurrence of reported crime. The NIBRS mandated local law enforcement agencies to submit at least a brief narrative of each incident/arrest, which set it apart from the UCR.

To know more about Supplementary Reporting system here,

https://brainly.com/question/28752743

#SPJ4

A dealer that holds a large long inventory position should: O a. Raise the ask price. eb. Lower the ask price. C. None of the above.

Answers

A dealer that holds a large long inventory position should do None of the above options.

Holding a large long inventory position does not necessarily mean that the dealer should adjust the asking price. Depending on the market conditions and the type of inventory, the dealer may choose to keep the asking price constant or raise or lower it. The dealer might also decide to hedge their long position by taking a short position in the futures market to protect against losses.

The dealer might also liquidate some of their long position if they feel the market is overvalued. Ultimately, the dealer must decide what is best for their business and inventory in order to maximize profits.

For more questions like Dealer click the link below:

https://brainly.com/question/15072512

#SPJ4

A ______ identifies the best media to use to deliver an advertising message to a targeted audience and is a subsection within a marketing communications plan.

Answers

A media plan identifies the best media to use to deliver an advertising message to a targeted audience and is a subsection within a marketing communications plan.

What is a media Plan?

The audience that will be targeted, the channels that will be used, the timing, and the message will all be specified in a media plan. A set of advertising chances that target a certain audience and work with the company's marketing budget will come from an efficient media plan.

Why is a media plan important?

Successful media planning entails that the company uses advertising to grow its clientele, boost its market share, increase consumer brand awareness, and solidify its reputation. Planning enables easy and cost-effective achievement of the brand's goals and identification of key crucial areas for promotional activities.

To know more about media plan visit:

https://brainly.com/question/27316755

#SPJ4

Suppose a tax of $5 per unit is imposed on a good. The supply curve is a typical upward-sloping straight line, and the demand curve is a typical downward-sloping straight line. The tax decreases consumer surplus by $10,000 and decreases producer surplus by $15,000. The deadweight loss of the tax is $2,500. The tax decreased the equilibrium quantity of the good from a. 6,500 to 5,500. b. 5,500 to 4,500. c. 5,000 to 3,000. d. 6,000 to 4,000.

Answers

The tax decreased the equilibrium quantity of the good 5,500 to 4,500

what is mean by equilibrium?

The Latin word libra, which means weight or balance, is the origin of the word equilibrium.A situation is in equilibrium when multiple forces or factors are in balance.a situation when conflicting forces or actions are evenly distributed and neither is stronger or more significant than the other.Stable equilibrium, Unstable equilibrium, and Neutral are the three stages. Biology, chemistry, physics, and economics all have different definitions of equilibrium, yet they all refer to the harmony of opposing forces.When all of the forces acting on an object from outside the system of reference are balanced, the object is said to be in equilibrium.

To learn about equilibrium refer to

https://brainly.com/question/26075805

#SPJ4

Which of the following statements regarding global segmentation is true? Companies must continually adjust products and marketing strategies to meet the changing needs of global markets. Global segmentation activities are far less complicated than the same activities in the domestic market. When developing a global segmentation strategy, it is best to define segments by geography alone. The "golden rule" for global segmentation is to never alter a firm's marketing mix to serve the needs of global markets.

Answers

Companies must continually adjust products and marketing strategies to meet the changing needs of global markets

What do you mean by global market segmentation?

Global market segmentation is the process of identifying separate groups of prospective customers with homogenous features who are anticipated to exhibit comparable purchasing behavior, such as nation groups or individual consumer groups across nations. Segmentation is a critical strategic tool in international marketing since it determines whether a company is considered international or global, depending on the depth and scope of segmentation. While a global company views the entire world as a market and then divides it into manageable divisions, an international company has different marketing tactics for various country segments. The three primary segmentation techniques used in international marketing are macro-segmentation, micro-segmentation, and the hybrid approach.

To know more about Marketing Strategy visit:                               brainly.com/question/29376574

#SPJ4

Natural resources are:
Multiple Choice
Tangible assets used in the operations of the business.
Consumable assets such standing timber, mineral deposits, and oil and gas fields.
Not subject to allocation to expense over their useful lives.
Current assets because they are depleted.
Depleted using a straight-line method.

Answers

Natural resources are consumable assets such standing timber, mineral deposits, and oil and gas fields.

Natural resources are assets that can be used up. Over the course of their useful lives, natural resources are subject to expenditure. Natural resources cannot be recycled and are not renewable. The income statement is debited for depletion costs related to the utilization of natural resources.

Natural resources are substances obtained from the earth that are used to sustain life and provide for human needs. Natural resources consists things like stone, sand, metals, oil, coal, and natural gas. Air, sunlight, soil, and water are examples of other natural resources.

To learn more about natural resources refer here

https://brainly.com/question/13954163#

#SPJ4

effective supervisors develop trust and build credibility with employees, peers, and bosses when they .

Answers

Effective supervisors increase trust and construct credibility with employees, peers, and managers when they Keep skills and competencies up to date.

Credibility is a judgment that the target market makes about how plausible the communicator is, adds psychologist Dan O'Keefe. And it is vital because human beings frequently choose to reply to a persuasive message primarily based no longer on the content but on their belief in the communicator.

Credibility as a frontrunner is essential because personnel needs to have the guarantee that whilst you are coping with them and assessing their performance, you are equipped and trustworthy.

Credibility is crucial for leaders fact trust is what holds leaders and fans collectively. Credibility takes time to broaden and may quickly slip away through missteps.

To learn more about Credibility visit here:

brainly.com/question/29610606

#SPJ4

Concord Corporation agrees on January 1, 2020, to lease equipment from Packers, Inc. for 3 years. The lease calls for annual lease payments of $17,000 at the beginning of each year. The lease does not transfer ownership, contain a bargain purchase option, and is not a specialized asset. In addition, the economic life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. Assume that for Packers, Inc., the lessor, the collectibility of the lease payments is probable, and the fair value and cost of the equipment is $144,000. Prepare Packers’ 2020 journal entries, assuming the company uses straight-line depreciation and no salvage value.
Date
Account Titles and Explanation
Debit
Credit
1/1/2012/31/20
1/1/2012/31/20
(To record the recognition of the revenue each period) 1/1/2012/31/20
(To record depreciation expense on the leased equipment)

Answers

Lease Receivable (asset) $17,000 debit

To Lease Revenue (revenue) $17,000 credit

Write the journal entries and explain?

Date: January 1, 2020 (beginning of the lease term)

Account Titles and Explanation:

Lease Receivable (asset) $17,000

Lease Revenue (revenue) $17,000

On the first day of the lease term, Packers, Inc. would recognize a lease receivable for the first annual lease payment of $17,000 and would also recognize lease revenue for the same amount. This is because Packers, Inc. has a right to receive payment for the lease of the equipment, and the revenue is earned over the term of the lease.

Date: December 31, 2020 (end of the year)

Account Titles and Explanation:

Depreciation Expense (expense) $12,000

Accumulated Depreciation (contra-asset) $12,000

(cost of the equipment - estimated residual value) / estimated useful life of the equipment = ($144,000 - $0) / 10 years = $14,400 per year. Since the lease term is 3 years, the depreciation expense for 2020 would be $14,400 / 3 = $4,800. In this case, the fraction of the year that has passed at the end of 2020 is 11/12 (since the lease began on January 1 and ended on December 31), so the adjusted depreciation expense for 2020 would be $4,800 * (11/12) = $4,266.67. This amount would be rounded to $4,267 for simplicity.

To know more about Depreciation Expense, visit:

brainly.com/question/15024945

#SPJ4

Using the percentage-of-receivables basis, the uncollectible accounts for the year is estimated to be $33,000. If the balance for the Allowance for Doubtful Accounts is a $5,000 credit before adjustment, what is the amount of bad debt expense for the period? a. $5,000 b. $28.000 c. $33,000 d. $513,000

Answers

$513,000 is the amount of bad debt expense for the period. The percentage of bad debts that a company anticipates may encounter is calculated using the percentage of receivables method.

The method is used to fill out the allowance for dubious accounts, a counter account that deducts from the asset for accounts receivable. Divide the entire accounts receivable for a period by the bad debt amount, then multiply the result by 100. The main benefit of employing the percent of receivables technique is that it gives more accurate findings than others because it takes into account the company's real receivables as well as the length of time they have been past due.

To learn more about account, click here.

https://brainly.com/question/22917325

#SPJ4

umberto gets 20 utils from consuming guacamole and 15 utils from consuming salsa; fabian gets 30 utils from the same guacamole and 15 utils from salsa. given this information, a researcher can conclude that
a. Fabian gets more satisfaction from both guacamole and salsa.
b. Umberto will get more satisfaction from consuming one more unit of guacamole than Fabian will.
c. Umberto and Fabian prefer to consume a combination of guacamole and salsa.
d. Umberto and Fabian both prefer guacamole to salsa.
e. Umberto will get more satisfaction from consuming one more unit of salsa than Fabian will.

Answers

This information, a researcher can conclude that  Fabian gets more satisfaction from both guacamole and salsa. Placing the study into the context of earlier research on the subject you've examined will help you quickly respond to the "so what?" inquiry.

Highlighting the significance of your ideas. Do not be timid. Researcher have the opportunity to go into further detail on the significance of your findings in the satisfaction conclusion. A summary is a succinct explanation or description of the most important ideas in a text, piece of study, or essay. The piece of the text, essay, or book that provides the final response to the research question is known as the conclusion.

To learn more about researcher, click here.

https://brainly.com/question/18723483

#SPJ4

The four-firm concentration ratio, expressed as a percentage, is the ratio of the total industry _____ of the four largest firms in an industry relative to total industry sales.
sales

Answers

The output (sales) of the top four companies in an industry as a percentage of the overall sales of the sector is known as the "four-firm concentration ratio."

How concentrated is the four-firm ratio?The market share of the top four companies is shown, for instance, by the four-firm concentration ratio (CR4). A highly concentrated industry has a higher ratio of concentration. When the CR4 exceeds 50%, a market is typically seen as being very concentrated.By summing the market shares of the four largest companies, 16 + 10 + 8 + 6 = 40, one can determine the four-firm concentration ratio. Since the top four companies account for less than half of the market, this concentration ratio would not be seen as particularly significant.The output (sales) of the top four companies in an industry as a percentage of the overall sales of the sector is known as the "four-firm concentration ratio."    

To learn more about Four-firm concentration ratio refer to:

https://brainly.com/question/15873471

#SPJ4

Other Questions
help help help help plsssss frank believes that the united states should provide aid to asylum seekers who have experienced torture or who no longer have any surviving family. this is an example of when a check is written on an account at bank a and deposited in bank b, the reserve account of will rise and reserves of the entire banking system will Yuri wants to assign a task to his co-worker. He clicked the Task button to enter the subject, start date, and end date for the task. Then he clicked the Details button to add the number of hours needed for the task. Yuri clicked Save & Close to complete the assignment, but his co-worker did not receive the task. Which best explains Yuris error?He cannot assign a task to an individual co-worker. He should have entered the hours needed in the Task area. He entered the wrong subject name in the Task area. He did not add his co-workers information before saving the task. What is the rhyme scheme of the first stanza of " The Battle of Blenheim"? a service center receives an average of 0.7 customer complaints per hour. management's goal is to receive fewer than three complaints each hour. assume the number of complaints follows the poisson distribution. determine the probability that exactly four complaints will be received during the next eight hours. determine the horizontal and vertical components of force which pin c exerts on member abc. the 600-n force is applied to the pin. Which pronouns are used when talking about reciprocal pronouns in Spanish? While mail surveys are a common data collection method in developed countries, they are an unreliable means of gathering primary data in many foreign countries because of the:Low literacy rates A _____________ is created by a consumer problem, need, or desire. a. financial prediction b. company scope c. competitive analysis d. business opportunity please select the best answer from the choices provided a b c d your client on a regimen of statins tells you her doctor diagnosed her with rhabdomyolysis. the impact to her exercise prescription includes increased exercise recovery time or: Question1/3 MarksThe prism shown has a volume of 35 cm.Work out h, the height of the triangular cross section.h = Answ cm13/27 Marks+hi4 cm7 cm the equilibrium constant of a redox reaction can be calculated from the standard reduction potentials of involved redox couples at given temperature. Solvee + 0.05 = 9.21 Which of the following is a component of operating budgets? budgeted balance sheet capital expenditures budget sales budget budgeted statement of cash flows Why does the emily howell bot, and others like it, pose a potential threat to workers? Match the definition to the term.1 . causeasked to see if you understand what you read2 . balladthe action is not long or involved3 . inspirational poetrywhat makes something happen4 . short storya summary of all details in a reading selection5 . effectphrases with meanings that cannot be understood from ordinary meanings6 . idiomshelps you feel like being a better person7 . comprehension questionsplacing events in proper order8 . free versehas rhythm but no rhyme9 . main ideastory poem that can be sung10 . sequence of eventsresult or the outcome Jeremy spent a total of $79.16 on a shirt and one pair of jeans. He knows the jeans cost $49.95 but he does not know the cost of the shirt, s. He created the model shown to find the cost of the shirt. helppppppppppppppppppppppppppppppppppppppppppppp. A(n) _____ is a guide that demonstrates where to go, how to get there, and what to accomplish along the way in order to maximize value.