The amount of revenue does Gerakos recognize in 20X1 is $62,222 and in 20X2 $17,778
What is Transaction price?Transaction price is the pricing that is used when two products are sold together at a discounted price, the transaction price needs to be determined based on the stand alone prices of the products and then allocating the actual sales amount.
Transaction price determines the amount that needs to be recorded in a single period, and therefore is an important step to be performed in case of combo sales at discounted prices.
The calculation is as follows,
$60,000 + $30,000 = $90,000
Software $80,000 * ($60,000 / $90,000) = $53,333
Technical Support for 6 months $80,000 * ($30,000 / $90,000) =$26,667 * 2 / 6 = $8,889. (Multiplied with 2 months out of 6 months)
20X1
$53,333 + $8,889 = $62,222
20X2
$26,667 - $8,889 = $17,778
learn more about Transaction price at https://brainly.com/question/26958257
#SPJ1
Which of the following is an example of time series data
The following is an example of time series data b.amount of labor employed yearly in a specific factory from 1990 through 2010.
The required details about time series data is mentioned in below paragraph.
A time series data is a group of observations of well-described statistics objects acquired via repeated measurements over time. For example, measuring the fee of retail income every month of the year might contain a time collection. time series data is statistics this is recorded over regular periods of time. Cross-sectional statistics includes numerous variables recorded on the identical time. Pooled statistics is a mixture of each time collection statistics and cross-sectional statistics.A time series data is a collection of observations on a unmarried entity over time — e.g. the every day ultimate fees over 12 months for a unmarried monetary security, or a unmarried affected person's coronary heart charge measured each minute over a one-hour procedure.
(COMPLETE QUESTION)
Which of the following is an example of a time-series data set?
a. amount of labor employed in each factory in the U.S. in 2010.
b. amount of labor employed yearly in a specific factory from 1990 through 2010.
c. average amount of labor employed at specific times of the day at a specific factory in 2010.
d. All of the above are time-series data
To learn about time series data visit here.
https://brainly.com/question/24098912
#SPJ1
A responsibility center is best described as?
a. any part of an organization that has responsibility for optimizing customer service and satisfaction
b. any financial sub-unit within an organization that has the responsibility to account for the performance of other organizational sub units.
c. any part of an organization whose manager has control over and is accountable for cost profit or investments
d. any part of an organization that has responsibility for managing product and service quality
Answer: C. Any part an organization whose manager has control over and is accountable for cost profit or investments.
Explanation: A responsibility center is an operational unit or entity within an organization, that is responsible for all the activities and tasks structured for that unit. These centers have their own goal, staffs, objectives, policies and procedures, and financial reports. And are used to balance responsibilities related to expenses incurred, revenue generated, and funds invested to an individual.
In a multinational or large corporation, the organization tasks are divided into a subtask, and each task is given to various small division or groups. In this context, all groups in that organization are responsibility centers.
Learn more about responsibility centre on link below
https://brainly.com/question/28282829?referrer=searchResults
#SPJ4
a. What is the meaning of office procedure?
Answer:
Meaning of Office Procedure
Office procedure is a set of rules or policies guiding the operations of an office. Office procedures set the standard for how staff work together in the office.
Explanation:
Answer:
Office procedure is the set of rules regarding the operations in an office.
a high value for the times interest earned ratio means that a company is a lower risk borrower.
a. true
b. false
A corporation is a lesser risk borrower if the times interest earned ratio is high is False
Explain about the High risk borrower?when the applicant has a high likelihood of defaulting due to a low credit score, poor credit history, or both. A high-risk borrower is likely to have few, if any, other loan options, according to the lender.
Your payment processor has determined that your business has a higher risk of chargebacks or fraud and has assigned you a high-risk merchant account. High-risk merchant accounts incur higher processing fees to cover the risk the payment processor assumes.
You have a lower chance of being authorized the more risk you present to a lender. High-risk loan categories could include: Securing loans: These loans call for the holding of an asset as collateral, like your house or vehicle.
To learn more about High risk borrower refer to:
https://brainly.com/question/895044
#SPJ4
You are 18 years old single, and still live at home.
What type of life insurance policy should you purchase?
Answer: none of the above
Explanation: i took the test
Responses
term life insurance
variable life insurance
universal life insurance
none of the above
none of the above
Answer:
i one person plan
Explanation:
Western Electric has 25,500 shares of common stock outstanding at a price per share of $66 and a rate of return of 13.65 percent. The firm has 6,650 shares of 6.50 percent preferred stock outstanding at a price of $88.50 per share. The preferred stock has a par value of $100. The outstanding debt has a total face value of $365,000 and currently sells for 104.5 percent of face. The yield to maturity on the debt is 7.69 percent. What is the firm's weighted average cost of capital if the tax rate is 21 percent?
Multiple Choice
10.15%
10.38%
11.39%
11.16%
The firm's weighted average cost of capital if the tax rate is 21 percent is: D. 11.16%
How to find Weighted average cost of capital (WACC)Common stock:
Common stock = 25,500 × $66
Common stock = $1,683,000
Preferred stock:
Preferred stock = 6,650 × $88.50
Preferred stock = $588,525
Debt:
Debt = 104.5% × $365,000
Debt = $381,425
Total market value = $1,683,000 + $588,525 + $381,425
Total market value = $2,652,950
WACC = ($1,683,000 /$2,652,950)(.1365) + ($588,525 /$2,652,950 )(6.5/88.50) + ( $381,425/$2,652,950 )(.0769)(1 -.21)
WACC = ($1,683,000 /$2,652,950)(.1365) + ($588,525 /$2,652,950 )(0.07344633) + ( $381,425/$2,652,950 )(.0769)(.79)
WACC =0.0865939803+0.0162931836 +0.0087344
WACC= 0.1116 ×100
WACC=11.16%
Therefore the correct option is D.
Learn more about weighted average cost of capital here:https://brainly.com/question/28042295
#SPJ1
What is the annual effective gross income if total monthly rental is $200,000, monthly CAM $30,000, monthly Insurance pmt $10,000, monthly Tax pmt $30,000, 5% vacancy and total tenant improvement/leasing commissions total $50,000?
The annual effective gross income, given the total monthly rental, and costs like insurance, can be found to be $3, 078, 000.
How to find the annual effective gross income?The annual effective gross income can be found by the formula:
= Annual rental + Annual CAM + Annual insurance + Annual tax payment - Vacancy costs
Annual rental:
= Monthly rental x 12
= 200,000 x 12
= $2, 400, 000
Annual CAM:
= Monthly CAM x 12
= 30, 000 x 12
= $360, 000
Annual insurance:
= Monthly insurance payment x 12
= 10, 000 x 12
= $120, 000
Annual tax payment:
= Monthly tax x 12
= 30, 000 x 12
= $360, 000
The Vacancy costs are:
= Total annual income x Vacancy cost
= (2, 400, 000 + 360, 000 + 120, 000 + 360, 000) x 5%
= $162, 000
The annual effective gross income is:
= Annual rental + Annual CAM + Annual insurance + Annual tax payment - Vacancy costs
= 2, 400, 000 + 360, 000 + 120, 000 + 360, 000 - 162, 000
= $3, 078, 000
Find out more on effective gross income at https://brainly.com/question/17284401
#SPJ1
TC= Q2 + 120 Q + 400. The level of output where average cost is minimized for Hilltop Corp. is
The level of output where average cost is minimized for Hilltop Corp. is 20
How to solve for the output levelAverage cost is the production cost calculated as the product of the total cost (TC) and the total output (Q), or, mathematically, AC = TC/Q.
We have the total cost function as
TC= Q² + 120 Q + 400.
Average cost AC = TC / Q
= [tex]\frac{Q^2 + 120 Q + 400}{Q}[/tex]
dAC/dQ = 1 + 0 - 400 / Q² = 0
we would have 400 = Q²
Take the square root of the two sides
√400 = Q
20 = Q
Hence the level of output for Hilltop corp is given as 20
Read more on average cost here; https://brainly.com/question/25799822
#SPJ1
You have observed that the average size of a particular goldfish is 1.5 inches long. The standard deviation of the size of the goldfish is 0.25 inches. What is the size of a goldfish such that 95 percent of the goldfish are smaller? Assume a normal distribution for the size of goldfish.
You have observed that the average size of a particular goldfish is 1.5 inches long. The size of a goldfish such that 95 percent of the goldfish are smaller is 1.25 inches
What is the size of a goldfish?Now let us say that the length of a certain goldfish is denoted by the letter X.
It is said that the mean size is 1.5 inches, and the standard variation of the size is 0.25 inches. Also stated is that the mean size is 1.5 inches.
Take it for granted that X follows a normal distribution.
Calculate the size of a goldfish in such a way that only 16% of goldfish are less than the calculated size by using the following formula:
P (X < x) = 0.16
⇒ P (Z < z) = 0.16
The z-value that corresponds to such a probability is as follows:
[tex]\begin{aligned}&z=\frac{x-\mu}{\sigma} \\&-0.99=\frac{x-1.5}{0.25} \\&x=1.5-(0.99 \times 0.25) \\&x=1.2525 \\&x \approx 1.25\end{aligned}[/tex]
Therefore, 16 percent of the goldfish measure less than 1.25 inches in length.
Read more about normal distribution.
https://brainly.com/question/13759327
#SPJ1
27. In logistics, how long it takes to assemble a car is known as a. lead time b. cycle time c. order time d. delivery time
In logistics, how long it takes to assemble a car is known as a lead time.
A lead time in logistics tend to refer to the time which it takes from when a purchase order is created for a supplierwhich is until the goods are delivered from that supplier to the customer, so, this can be an individual or maybe a store.
Here, coping with this concept is pivotal in order to organize all the different processes throughout your supply chain. Thus, the material lead time is an amount of time between which a company tend to become aware of a need for raw materials and when the materials are said to be physically obtained.
Hence, option A is correct.
To learn more about the supply chain here:
https://brainly.com/question/16023650
#SPJ9
if a life policy allow the policy owner to makes periodic additions to the face amount at standard rates without proving insurability, the policy includes a
If a life policy allows the policy owner to make periodic additions to the face amount at standard rates, without providing insurability, the policy includes a: Guaranteed insurability rider.
What is the Guaranteed insurability rider?The guaranteed insurability rider can be described as the policy hat gives room for the policy owner to purchase specific amounts of additional insurance at specific dates or events,
It should be noted that in this policy , the amount that is been needed can be provided depending on the condition.
Read more about policy at:
https://brainly.com/question/6583917
#SPJ1
what is escalation clause?
Explanation:
is a contract provision that allows for an automatic increase in the agreed-upon wages or prices if certain conditions change while the contract is in effect.
An adjustment to a labor contract may be triggered by an increase in the inflation rate. An adjustment to a business-to-business contract may be triggered by an increase in expenses necessary to fulfill the agreement. A landlord may demand an escalation clause in a long-term rental agreement to cover any tax increases or a substantial change in market conditions.
Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $14,200. They expect to use the Suburban for five years and then sell the vehicle for $5,600. The following expenditures related to the vehicle were also made on July 1, 2025:
The company pays $2,350 to GEICO for a one-year insurance policy.
The company spends an extra $5,200 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides.
An additional $2,550 is spent on a deluxe roof rack and a trailer hitch.
The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,500 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter.
Record the closing entry for revenue accounts.
Record the closing entry for expense accounts.
Closing entry of expense accounts will be $12,300
All the expenses incurred by the company on the vehicle will be included in the expense account. and the expenses which will be counted as asset expenses will be adding all the costs except the insurance cost, as it not considered as an asset.
You must debit the revenue summary account as well as credit each service charge expense stated in the trial balance in attempt to eliminate out overall expense accounts by bringing their balances down to zero. You must list each closing expense exactly as it appears in the trial balance.
Close the companies are leveraging on the income statement that has debit balance to a special transitory account held "income summary."
Close any financial statement accounts having debit balances to the revenue summary account (usually expense accounts).
For more information on expenses, visit:
https://brainly.com/question/15296604
#SPJ9
Quantum computing can assist with data analytics by
a) offering more imaginative solutions to problems
b) solving problems that do not involve variables
Oc anticipating human behavior
O d)
solving problems on a large scale with multiple variables
Quantum computing can assist with data analytics by solving problems on a large scale with multiple variables. [OPTION D]
what is quantum computing?It is a field of computer science that uses the principles of quantum theory. Quantum theory describes the behavior of energy and matter at the atomic and subatomic levels. Quantum computing uses subatomic particles such as electrons and photons.A type of computation that can be used to manipulate quantum mechanical phenomena such as superposition, interference, and entanglement. A device that performs quantum computation is called a quantum computer.This research field focuses on the development of computational techniques centered on the principles of quantum theory. this theory describes the properties and behavior of energy and matter at the quantum level (atomic and subatomic).thus, solving problems on a large scale with multiple variables. [OPTION D] is the correct answer.
to know more about quantum computing refer to:
https://brainly.com/question/15188300
#SPJ1
Pro-forma FY+1 EPS for Amazon Inc. is expected to be: Review Later $45.71 $36.77 $50.00 $130.33
Option B. The Pro-forma FY+1 EPS for Amazon Inc. is expected to be 36.77 based on the calculation.
How to solve for the Pro-forma FY+1 EPSThe normalized net earnings = $23688
normalized net earnings of snap = -581
proforma adjustment = - 3134
Total proforma earning = 19973
Next we have to solve for the cost of acquisition
shares of snap * price of snap * (1 + premium)
= 1734 * 44.29 (1 + 20%)
cost of acquisition = $92158.63
Next is the cost financed by equity
= $92158.63 * 80 percent
= 73726.91 dollars
Next is to solve for the new price of the equity issue
= 3099.4 * (1 - 50%)
= 2944.43 dollars
Next is the number of new shares 73726.91 dollars / 2944.43
= 25.04
Total share after acquisition
shares outstanding + new shares
= 518 + 25.04
= 543.04
The EPS would be the next to solve for
this is gotten by the formula
total proforma / number of shares
= 19973 / 543.04
= 36.78
Hence the Pro-forma FY+1 EPS is going to be: $36.77
Read more on Pro-forma here:https://brainly.com/question/13126457
#SPJ1
complete question: check attachment
Which of these is not part of the marketing concept?
Multiple Choice
Providing customer satisfaction
Matching competitors' offering
It relies on the integrated effort of numerous departments, not just marketing
That corporate goals can be achieved through customer satisfaction
From the following, the one which is not a part of the marketing concept is that, it relies on the integrated effort of numerous departments, not just marketing.
Marketing is considered to be the process of getting the right goods or services or ideas to the right people at the right place, time, and also the right price. This can be done using the right promotion techniques and utilizing the appropriate people to provide such customer service.
It is seen that the most successful organizations are said to have adopted the marketing concept. Thus, this marketing concept is based on the right principle. The marketing concept is oriented toward customers satisfaction by offering value, and does not rely on integrated effort of numerous departments.
Hence, option C is correct.
To learn more about Marketing here:
https://brainly.com/question/27155256
#SPJ9
Write each sentence. Correct any errors in verb use. Write correct if the sentence
is correct.
1. The nurse gone out of his way to care for the sick child.
2. After you get the mail, lie it on the kitchen counter.
3. Some residents of the town has traced their ancestry.
4. Frieda learned the business and begins looking for customers.
5. The officers am budgeting an extra $5,000 for taxes next year.
6. I choose the materials last week.
7. The delegates should rise from their seats when Mr. Li arrives.
8. Gerald will have been elected next week.
9. Gladstone Inc. has complained about the competition’s prices.
10. By the time school will have started next week, I will have returned
from Spain.
The correct sentence for each of the given sentences are as follows:
1. The nurse has gone out of his way to care of the sick child.2. When you get the mail, place it on the kitchen counter.3. Some residents of the town has traced their ancestry. - Correct.4. Frieda has learned the business and now looking for customers.5. The officers is budgeting an extra $5,000 for taxes next year.6. I choose the materials last week. - Correct.7. The delegates should rise from their seats when Mr. Li arrives. - Correct.8. Gerald will be elected next week.9. Gladstone Inc. has complained about the competition’s prices.- Correct.10. By the time school starts next week, I will have returned from Spain.What are the rule for verb?The general rule is that subjects and verbs must agree with one another in number (singular or plural). Therefore, if a subject is singular, its verb must also be singular and if a subject is plural, its verb must also be plural.
Read more about verb
brainly.com/question/18330568
#SPJ1
On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun uses the allowance method. On February 15, Year 2, one of Loudoun's customers failed to pay his $1,050 account and the account was written off. On April 4, Year 2, this customer paid Loudoun the $1,050. Which of the following correctly states the effect of the adjusting entry, dated December 31, Year 1, on the elements of the financial statements of the Loudoun Corporation? Balance Sheet Income Statement Statement of Cash Flows Asset = Liabilities + Stockholders’ Equity Revenue − Expenses = Net Income A. (3,375) 3,375 NA NA NA NA NA B. (3,375) NA (3,375) NA 3,375 (3,375) NA C. 3,375 NA 3,375 NA (3,375) 3,375 3,375 OA D. NA NA NA NA NA NA NA Multiple Choice Option A Option B Option C Option D
The effect of the adjusting entry, dated December 31, Year 1, on the elements of the financial statements of the Loudoun Corporation is B. (3,375) NA (3,375) NA 3,375 (3,375) NA.
How the adjusting entry for uncollectible allowance affects the financial statements:Balance Sheet Income Statement of
Statement Cash Flows
Asset = Liabilities + Equity Revenue − Expenses
= Net Income
B. (3,375 ) = NA + (3,375 ) NA − 3,375 = (3,375 ) NA
The reason for the above illustration of the effect of the adjusting entry for the uncollectible allowance is that its decreases assets by increasing the allowance for uncollectible (which is a negative asset account).
The uncollectible allowance will also decrease the net income and equity but does not affect the statement of cash flows, which deals with only cash inflows and outflows from operating, financing, and investing activities.
Credit Sales = $112,500
Estimated allowance for uncollectible = 3%
= $3,375 ($112,500 x 3%)
December 31, Year 1: Bad Debts Expense $3,375 Allowance for Uncollectible $3,375
February 15, Year 2: Allowance for Uncollectible $1,050 Accounts Receivable $1,050
April 4, Year 2: Cash $1,050 Accounts Receivable $1,050
Accounts Receivable $1,050 Allowance for Uncollectible $1,050
Thus, when the adjusting entry is recorded on December 31, Year 1, its effect is illustrated by Option B.
Learn more about adjusting entries for uncollectible accounts at https://brainly.com/question/28891272
#SPJ1
EXERCISE: Conduct online research about entrepreneurs. What did you discover about these individuals?
Some links to get you started:
Entrepreneurs are those persons who start their own businesses with their own money or capital by taking all financial risks.
Who is an entrepreneur?entrepreneurs are those persons who initiate their own businesses from scratch.A person who organizes and operates one or more companies, thereby taking an above-average financial risk.The one who starts a new business takes most of the risks and enjoys the most rewards. The process of starting a business is known as entrepreneurship. Those are generally seen as innovators, sources of new ideas, products, services, and businesses/processes.qualities of entrepreneurs are as follows:
innovativepassionatedecision-makerrisk takerdisciplinedsharp memorydynamic vision foresightflexibilitysmartcommunication skills sharp mindto know more about entrepreneurs refer to:
https://brainly.com/question/2073153
#SPJ1
store-level goals such as increasing store traffic, managing inventory, and managing employees are called _______.
Answer:
Tactical Goals
Explanation:
Which major promotion category uses catalogs, telephone marketing, kiosks, and the Internet?
A) sales promotion
B) direct marketing
C) horizontal diversification
D) public relations
Direct marketing helps businesses cut
costs. Media for direct marketing include
face-to-face sales, direct mail, catalogue
marketing, telemarketing, TV, and kiosks.
Delivering individualized and frequently
interactive promotional materials to specific consumers through channels like mail, catalogues, the Internet, e-mail, telephone, and direct-response advertising is known as direct marketing.
Direct marketing is a style of advertising that involves communicating with your target market directly to offer information about your business, product, or service.Some examples of direct marketing techniques include telephone marketing,emails, online ads, flyers,database marketing, promotional letters,newspapers,and outdoor advertising.
To know more about Direct marketing visit:https://brainly.com/question/29304439
#SPJ4
Should the U.K., France, and the U.S. have concentrated their relief efforts along historical colonial lines during the Ebola outbreak? In general, do the U.S. and other imperialist nations have particular ethical responsibilities to aid their former colonies? Explain your reasoning.
Even though I believe that it was a great gesture for the ways that the nations of U.K., France, and the U.S. have concentrated their relief efforts along historical colonial lines, I do not believe that they should have.
Yes The US and other imperialist nations have particular ethical responsibilities to aid their former colonies.
What is imperialism?Imperialism is the state's strategy, practice, or advocacy for expanding power and domination, particularly through direct territorial conquest or by seizing control of neighboring regions' politics and economies, frequently through the use of both hard power and soft power.
For instance, when King George III stationed British troops in the colonies to uphold ever-stricter economic and political constraints imposed on the colonists during the 16th and 17th centuries, colonialism in America gave way to imperialism.
The Latin word imperium is where the word "imperialism" originates. Its meaning is "to order." Imperialism is the practice of expanding a nation's influence into foreign lands or dominating the politics or economy of another nation.
These countries typically provide specific assistance and efforts to the countries that they controlled.
Read more on imperialism here: https://brainly.com/question/472625
#SPJ1
Acuity Insurance's motivational programs primarily support which area of the Rocket Model?
Insurance can fulfil your desire for fulfilling employment and motivational participation by pursuing a career in insurance. Defense of fellow citizens was the inspiration behind the creation of the insurance industry.
For Insurance, insurance can pay for the costs of repairing a home after a fire, providing assistance for grieving family members, or helping motivational employees who have been wounded at work. Most agents quit because they can't generate enough revenue to sustain themselves and their families. The only way to fix that is to learn how to create more, better leads and follow up on them. People go on online fact-finding missions. I work hard because I want to succeed.
To learn more about Insurance, click here.
https://brainly.com/question/27822778
#SPJ1
You need to revise your budget to meet your short-term
goal of buying a new computer. You will need to budget
$50 a month.
How will you revise your budget to meet this goal?
I could increase my discretionary spending to $365, which would allow me to spend $50 per month on my computer.
I could also reduce other expenses to compensate for the change. For example, I could replace my entertainment budget with a computer budget.
Make sure to include the following :
creating a new budget item of $50 for a computer
reducing one or more areas by $50 to account for the new budget item
To know more about budget here:
https://brainly.com/question/15683430
#SPJ1
Answer:
Sample Response -
I could increase my discretionary spending to $365, which would allow me to spend $50 per month on my computer.
I could also reduce other expenses to compensate for the change. For example, I could replace my entertainment budget with a computer budget.
Explanation:
Edge 2023
what factors determine how difficult it is for a manufacturer to persuade retailers to purchase its products?
The difficulty a producer has in persuading retailers to buy its products depends on how vertically integrated the channel is or how the channel is structured.
What is the product?The object being sold is referred to as a product. A service or an object both qualify as products. It could take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that can be charged.
The degree of vertical integration of the channel, which is one component of channel structure, determines the level of difficulty a producer faces in obtaining retailers to buy its products.
Therefore, The difficulty a producer has in persuading retailers to buy its products depends on how vertically
Learn more about products here.
brainly.com/question/22852400
#SPJ2
a _____ attempts to gain access to a system for malicious purposes without the owner's consent.
Answer:
A black hat hacker
Answer: Black hat hacker
Explanation:
Can you use a home equity loan for whatever you want?
A HELOC is a line of credit taken up using the equity in your home as collateral.
How is home equity calculated for a HELOC?You must have at least 20% equity in your house to be eligible for a Home Equity Line of Credit (HELOC). Subtract the amount owing on the home's mortgage loans from the home's current appraised value to determine the equity in the property.A crucial component of that is an appraisal. A lender will probably demand an appraisal to determine the value of your home because HELOCs and home equity loans are secured by your home. An appraisal ensures that you don't borrow more than your home is worth, protecting both the lender and the borrower.Start by multiplying the current market value of your home by 80% to get an idea of how much equity you have. Subtract your mortgage balance next. The balance is how much you can borrow from a HELOC, as long.To Learn more About HELOC refer to:
https://brainly.com/question/2598899
#SPJ4
What is the requirement to form contract ?
The requirement to form a valid contract are -
1. Acceptance: Your Offer Is Accepted
Acceptance entails exactly what it sounds like: the recipient of the offer accepts its terms. Acceptance must be willingly given. In other words, because he is under duress, a person who signs a contract while a pistol is pointed directly at him is not legally permitted to accept the offer. This is an extreme case, but there are times when one side is subjected to threats or blackmail in order to prevent him from signing the contract. These are not enforceable in court. The acceptance of the offer must be mutually binding and based solely on the parties' mutual agreement to the conditions of the contract.
2. Consideration: Who Is Paying What.
Consideration is the amount one party will "pay" for the contract to be fulfilled. When defining consideration in a contract, the term "payment" is ambiguous because what a party receives for signing the agreement isn't always monetary. Therefore, even if a real estate contract may specify that the property would be transferred for $1 million in consideration, a renter may be provided with housing in exchange for making improvements to the property while they are residing there .In the end, consideration is regarded as something valuable, and typically, it takes the form of money. However, you would still be accorded consideration if you offered to the company to share your skills and expertise.
3. Our intention is for this agreement to be enforceable in court.
This prerequisite for a contract concerns the goals of each side. Friends and relatives frequently make informal agreements, but they never intend for them to be legally enforceable, meaning that they do not want one person to be able to sue the other if the other does not follow through on their commitments. Due to the lack of a legal intent, this kind of agreement is not a genuine contract. The contract's provisions must also abide by the rules and laws of the state where the agreement was made.
4. Competence: Parties Must Be Experienced
The contract must be signed by and entered into by competent parties. This indicates that the signer is of legal age, has the mental capacity to understand the contract, and is not otherwise incapacitated at the time of signing—that is, not intoxicated or under the influence of drugs or alcohol. Although "capable parties" are a prerequisite for any legal contract, they are closely examined in agreements involving elderly or disabled people. Dementia patients may not be mentally capable of signing a contract transferring ownership of their property to another party.
5. Legal things
A contract can only be considered valid under the Contract Act if it has a legal consideration and a legal purpose. According to the Contract Act, the reasons and purposes listed below are unlawful.
To learn more about the requirement to form a contract- https://brainly.com/question/7127760
Need on this please
Answer:
Explanation:
America has an absolute advantage in selling everything, a comparative advantage in selling mobile phones, a comparative advantage in selling tablets in Brazil
so we choose D
why Nike is a competitor to Decathlon? and i need a website for this ìnormation
Based on the available information, Nike is a competitor to Decathlon because both brands are manufacturers of sports wears.
Similarities between Nike and DecathlonFrom the business activities of Nike and Decathlon, it has been revealed that both brands major in the production of Sportswear.
The sportswear produced by Nike and Decathlon includes but is not limited to the following:
BootsSnowboardsFootballBasketballWinter JacketsHelmets, etc.These two brands are considered competitors because they both have the same consumers to patronize their products.
Also, since both brands are in the same line of business, they are considered to be in the same industry.
Hence, in this case, it is concluded that the correct answer is that both brands are manufacturers of sports wears.
Learn more about Business competition here: https://brainly.com/question/24625436
#SPJ1