GDP growth is correlated with investments in tangible capital.A workforce that is more productive results in greater economic growth, which in turn leads to a higher gross domestic product (GDP).
What impact does physical capital have on economic expansion?
Each worker's capital stock: If everything else is equal, an economy with more physical capital can produce more than one with less. More capital investment leads to greater economic expansion due to the addition of capital to the stock through savings and investment.
Is GDP boosted by physical capital?
Temporarily, an expansion in business venture straightforwardly expands the ongoing degree of total national output (Gross domestic product), on the grounds that actual capital is itself delivered and sold.
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you purchased a one-year ibm bond with a face value of $10,000 and an interest rate of 25%. suddenly the market interest rate changed, which raised your bond price by $600. based on the given information, calculate the current market interest rate (rounded to the nearest whole percentage).
The current market Interest rate will be equal to 16%.
A bond may be defined as the security instruments or debt security which are similar to loans and are made to the issuer on several terms and conditions to pay the principles of the bond on the date of maturity along with the interest earned over it in a specific period of time. This question can be solved by using formula of Interest rate. There is a need to figure out the price of bond when it is purchased. Let us assume the bond price as $x. Since the bond has initial interest rate of 25%, the following situation must be true, that is
[($10,000 - $x) ÷ $x] × 100 = 25.
On Solving the above expression, the value of x = $8,000.
So, the bond price was $8,000 when the interest rate was 25%. Since the price of bond increased by $600, the new bond price must be $8,600. This might have happened due to a decline in the interest rate. Now, we use the formula for interest rate that is
R = [(Face value - new bond price) ÷ new bond price] × 100
R = [($10,000 - $8,600) ÷ $8,600] × 100 = 16%.
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Chang and chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following _______ strategy.
Chang and Chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following "Follow the Leader" strategy.
A competitive pricing approach called "follow-the-leader pricing" involves a company matching the costs and quality of the market leader. In other words, a business will adopt the price strategy used by the dominant player in its sector. For instance, the business will cut its pricing to the same level when the industry leader drops the cost of its products.Follow-the-leader pricing may compel the company to make constant price adjustments, especially if the market leader actively combats this tactic by adjusting prices up and down all the time. Price wars might result, though.Follow-the-leader pricing is a competitor-based pricing approach; other techniques involve pricing that is determined by the consumer or by the cost.Learn more about Follow-the-leader, here
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kristin is examining a measure of the financial return the human resources department received for its investment in a new performance appraisal system. the new system cost $3,500 and saved more than $5,000 in payroll expenses. kristin is examining the . a. strategy b. economic value added c. gain from investment d. return on investment e. balanced scorecard
Kristin is looking into a measure of how much money the HR department made from investing in a new performance evaluation system. While saving over $5,000 in payroll costs, the new system cost $3,500. Kristin is looking into investment return.
An indicator of an investment's profitability is the return on investment (ROI).ROI measures an investment's effectiveness by comparing the amount you paid for it to the amount you made.
How is the return on investments calculated?
An approximate indicator of an investment's profitability is its return on investment (ROI).ROI is calculated by dividing the new number by the investment's cost, then multiplying it by 100, then subtracting the investment's initial cost from its final value.
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Once sales and profits decrease for a product, the product is in the stage of the product life cycle.
Maturity. In the maturity stage, sales slow down, indicating that the market has begun to reach saturation. This is also one of the stages of the product life cycle when pricing becomes competitive.
Maturity is a measurement of the ability of an organization for non-stop development in a selected discipline (as defined in O-ISM3[dubious – discuss]). The better the adulthood, the better can be the chances that incidents or errors will lead to improvements either inside the first-class or inside the use of the sources of the area as implemented by using the business enterprise. Most maturity models check qualitatively humans/culture, tactics/systems, and items/eras. Two procedures for enforcing maturity fashions exist. With a pinnacle-down technique, which includes proposed by using Becker et al., a set variety of adulthood stages or tiers is certainly first and in addition corroborated with characteristics (normally in form of particular evaluation gadgets) that help the initial assumptions approximately how maturity evolves.
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nike, inc. markets several types of athletic shoes, along with clothing and fitness equipment. in other words, nike has a. many product classes. b. a battle of the brands. c. no product assortment. d. several product lines. e. product components.
Nike, Inc. markets numerous styles of athletic shoes, together with apparel and health equipment. in different words, Nike has numerous product strains.
The required details for product line in given paragraph
A product line is a collection of merchandise that a enterprise creates beneath a unmarried brand. The merchandise are comparable and cognizance at the identical marketplace sector. Maybe their characteristic or channel distribution are the identical or comparable. Perhaps their bodily attributes, prices, quality, or sort of clients are the identical. We name the activity product lining. A enterprise could have multiple product line. The variety of product strains it has displays its resources, i.e., how effective it is.
Product line numbers may additionally display the opposite gamers within side the market how aggressive the enterprise is. In this context, the term ‘market’ approach the identical as ‘marketplace’ in its summary sense.
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suppose price per unit is $6, variable cost per unit is $2, fixed costs are $400 and the depreciation allowance per year is $500. the relationship between operating cash flow (ocf) and sales volume (q) can be expressed as: multiple choice question.
If fixed costs are $400 and the depreciation allowance per year is $500. the relationship between operating cash flow (ocf) and sales volume (q) can be expressed as: OCF = -400 + 4Q
What is operating cash flow?Operating cash flow (OCF) can be defined as the cash amount a company or an organization incurred from their business operation.
The relationship between operating cash flow (ocf) and sales volume (q) an be expressed as: OCF = -400 + 4Q
Where:
OCF = Operating cash flow
Q = Sales volume
Therefore the expression is OCF = -400 + 4Q
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The complete question is:
suppose price per unit is $6, variable cost per unit is $2, fixed costs are $400 and the depreciation allowance per year is $500. the relationship between operating cash flow (ocf) and sales volume (q) can be expressed as: multiple choice question.
OCF = -400 + 4Q
OCF = 400*Q - 4
OCF = 4/Q + 500
OCF = 400 - 4*Q
Companies go through different phases to reach product/market fit. These phases are the
A: idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
B: idea stage, the prototype stage, the launch stage, the traction stage, and the growth stage.
C: the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
D: idea stage, the traction stage, the monetization stage, and the growth stage.
These phases are the idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage. Thus, option A is correct.
What is a Company?An organization that produces goods or services and markets them to consumers in order to make money is referred to as a company.
The connection between such a company's Unit Economies as well as Net Profitability can be used as an example of the developmental process of a company looking for Product Attributes. Whenever a company finds a solution to an issue that aligns with the demands of the existing markets and for which customers are prepared to pay for a good or commodity.
Therefore, option A is the correct option.
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What organization did western farmers create in order to try and get the government to regulate the railroads?.
The Which group formed in response to the effect railroad monopolies had on farmers is Granger movement. The National Grange of the Order of Patrons of Husbandry or also known as The Grange can be defined as a social organization in the United States that encourages families to band together to promote the economic and political well-being of the agriculture and community.
The National Grange of the Order of Patrons of Husbandry or also known as The Grange has a purpose to advance methods of agriculture, as well as to promote the social and economic needs of farmers in the United States and was founded in 1867. The founder or Grange movement is Francis Marion McDowell, Oliver Hudson Kelley, and many more.
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If my revenue is 1,000,000 and my expenses are 1,386,000 whats my profit in percentage
The answer is -27.85%
1,000,000-1,386,000 = -386,000
-386,000/1,000,000*100 = -27.85%
What decision support strategy uses a technique based on identifing a similar problem with a known effective solution, and apply the approach to this problem?.
Using a technique based on locating a similar problem with a well-known efficient solution and applying the approach to current situation, brainstorming and collaborative problem-solving strategies are used.
Using the brainstorming technique, a group of people can work together to generate ideas on the spot for a specific problem by compiling a list of potential solutions. The class is given the opportunity to use their prior knowledge and find connections between the issue at hand and what they have previously studied through brainstorming.
When problem-solving jointly, the likelihood of achieving the best result or solution rises. When people work together, they can share, assess, and then choose the idea that best solves the problem. All of the issue often involves more than one answer.
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we are sorry, but we could not complete this payment, because it has been denied. please retry with a another funding option to continue with the payment.
Answer:
tell me the other funding options?
Explanation:
In the transactional model of communication, who fulfills the role of the sender?.
In the Transactional Model of Communication, the person (agent) who fulfills the role of the Sender is a: B. marketer.
What is communication?Communication can be defined as a strategic process that involves the transfer of information (message) from one person (sender) to another (recipient), especially through the use of semiotics, symbols, signs, and network devices.
In Economics, the Transactional Model of Communication comprises of four (4) main components and these include the following;
Sender (S)Channel (C)Message (M)Recipient (R)In the context of business transaction, the marketer is saddled with the responsibility of fulfilling the role of a sender because he or she sends out the goods.
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Complete Question:
In the Transactional Model of Communication, who fulfills the role of the Sender?
Market forecast
Marketer
Retailers
Consumer
Nominal gdp measures base-year production using base-year prices, whereas real gdp measures current production using current prices. True or false?.
Nominal GDP measures base-year production using base-year prices, whereas real GDP measures current production using current prices.
The statement is false.
Nominal GDP is GDP evaluated at contemporary marketplace expenses. therefore, nominal GDP will include all of the changes in marketplace fees which have taken place all through the modern 12 months due to inflation or deflation.
Nominal GDP is the Gross home Product without any impact of inflation. real GDP is the inflation-adjusted GDP of a rustic. The Nominal GDP of a rustic is expressed in terms of current year costs of goods and offerings.
Nominal GDP assesses monetary manufacturing in an economy but includes the modern charges of goods and offerings in its calculation.
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classical economists defended the economic concept of group of answer choices government intervention in the marketplace. prolonged recession and high rates of unemployment. market clearing. keynesian economists.
Classical economists defended the economic concept of prolonged recession and high rates of unemployment.
Classical economics or known as classical political economy, or Smithian economics can be described as a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. The principle of the classical economics theory is that the economy is self‐regulating. The most famous classical economists are David Ricardo, Adam Smith, and John Stuart Mill. Other notable contributors to classical economics include David Ricardo, Thomas Malthus, Jean-Baptiste Say, Anne Robert Jacques Turgot, John Stuart Mill, and Eugen Böhm von Bawerk.
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which school of economics warns that human economic systems could exceed the capacity of the environment to handle the pollutants and wastes we produce?
Socialist school of economics warns that human economic systems could exceed the capacity of the environment to handle the pollutants and wastes we produce.
What are the features of socialist economics?In socialist , all means of production are owned by the community, i.e., Government, and individual can not hold private property beyond certain limit. Therefore, it is government who utilises these resources for the interest of social welfare.
What is the main aim of socialist economy?Socialists actually aim to gain greater equality in decision-making and economic affairs, grant workers more control of the means of production and their workplace and to remove exploitation by directing the surplus value to employees.
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ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for coding associates for one year for $5,000 per month, starting at the beginning of next month. to be enforceable, a writing is required for
Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for coding associates for one year for $5,000 per month, starting at the beginning of next month. to be enforceable, a writing is required for the employment agreement.
A collateral settlement is one wherein one person (the guarantor) has the same opinion to pay the debt or duty that a 2nd person (the most important debtor) owes to a 3rd person (the obligee) if the most important debtor fails to perform.
Statutes that exist in each kingdom which require that sure styles of contracts are enforceable simplest if the settlement is in writing or evidenced with the aid of using a written memorandum or digital report this is signed.
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________ flows involve money transfers, payments, credit card information and authorization, payment schedules, e-payments, and credit-related data.
Financial flows involve money transfers, payments, credit card information and authorization, payment schedules, e-payments, and credit-related data.
In the field of business, financial flow can be described as the evaluation of where a person or a business is spending or gaining money. It also refers to analyzing where money is being consumed. Financial flow describes the expenditures of revenue and the ways money was either gained or consumed by you.
All of the payments that you make, either online, via credit cards, or by hand are assessed in financial flows.
Financial flow is also referred to as cash flow in the field of business.
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what are the characteristics of a high-performance work system approach to hrm? (choose every correct answer.)
The characteristics of a high-performance work system approach to HRM are A, C and D:
Focuses on collective levels of human and social capitalEnhances the performance of all employees systematicallyImproves employee motivation and opportunitiesHigh work performance system: what is it?A high-performance work system is a collection of HRM techniques intended to advance employees' abilities, motivation, and engagement in order to give a company a long-term competitive advantage.
Note that Increased employee commitment leads to improved organizational performance because high performance work systems have an impact on and align employees' attitudes and behaviors with the organization's strategic goals (Schuler and Jackson, 1987).
An example of High Performance Work System Practices (HPWS) are:
Ensuring Employee Security, Strict Selection, Decentralized Decision-Making, High Results-Based Compensation, Training by Commitment, Abolishing Status Barriers, Sharing Key Information.Learn more about high-performance work from
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See options below
Focuses on collective levels of human and social capital
Be good to all
Enhances the performance of all employees systematically
Improves employee motivation and opportunities
barnes company reports the following for its product for its first year of operations. direct materials $ 35 per unit direct labor $ 25 per unit variable overhead $ 10 per unit fixed overhead $ 48,000 per year variable selling and administrative expenses $ 3 per unit fixed selling and administrative expenses $ 20,000 per year compute total product cost per unit using absorption costing for the following production levels: (a) 2,000 units, (b) 2,400 units, and (c) 3,000 units.
The total product cost per unit using absorption costing for the following production levels are:
a) 2,000 units $94b) 2,400 units $90c) 3,000 units $86.What is the total product cost per unit under absorption costing?The total product cost per unit under absorption costing is the sum of direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead per unit.
Direct materials per unit = $35
Direct labor per unit = $25
Variable overhead per unit =$10
Total variable manufacturing cost per unit = $70
Fixed manufacturing overhead per year = $ 48,000
Variable selling and administrative expenses per unit = $3
Fixed selling and administrative expenses = $20,000
2,000 units 2,400 units 3,000 units
Fixed costs per unit $24 $20 $16
Variable manufacturing cost 70 70 70
Total product cost per unit $94 $90 $86
Thus, the total product cost per unit reduces as the production level increases but includes the fixed manufacturing cost under absorption costing.
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the income statement answers which of the following questions? a. how profitable was the business? b. how much money did the owners invest? c. how much cash did the firm generate? d. how much money does the company owe?
Answer: How Profitable was the business?
Explanation:
the income statement indicates how much money the business accumulated
questions 1. what information does paul have to support his belief that something is wrong? 2. knowing that you are not an attorney, does it appear from a project management perspective that sufficient information exists for a possible lawsuit to recover all or part of the incentive bonus for early delivery? 3. how do you think this case study ended? (it is a factual case and the author was the consultant.)
The management section of the proposal obtained by Paul provides supporting evidence that Welton knowingly manipulated the contract in their favor.
Welton stressed their ongoing connection with the Navy and mentioned that they had previously completed nearly comparable tasks for them using a team of individuals who had worked on previous contracts. If such were the case, then why did it take them six months to construct their manufacturing and procurement strategies, especially since similar plans for other contracts were created in less time? Furthermore, one should undoubtedly question Welton's motivation for requesting an incentive-based contract. The case study stated that while the Navy was interested in their contractor's choice, Welton was adamant on changing the contract type. In order to fulfill the contract one quarter earlier than expected, Welton took advantage of the incentive-based contract by investing an additional $5 million in labor. According to the 90%-10% share agreement, Welton received a $6 million incentive for the early delivery but the labor cost overrun of $5 million only resulted in a $500,000 fine.Although it appears exceedingly doubtful, there may be sufficient evidence for the Navy to recover some of the incentive bonus. It is ultimately the Navy's fault for agreeing to a fixed-price-incentive-fee contract and anticipating that Welton would not abuse the terms of the agreement. They may have questioned Welton's motivations at various stages throughout the project and changed direction if needed. For example, towards the end of the first quarter, when Welton was meant to be creating their production plans, they were spending more than twice as much on labor as planned. The cost overruns would have been an alert if the Navy had been keeping an eye on their purchase orders and expense reports. The proposal's management section lends credence to the Navy's concerns that Welton deliberately finished the task in less time to get the incentive. Both parties must have been truthful in their assessments and contract talks, according to the contract's Truth of Negotiations provision. In court, Welton would have to provide evidence as to why they anticipated this job would take so much longer than the other, comparable projects they had already finished. In a potentially drawn-out legal battle, the Navy must demonstrate that Welton utilized improper pricing tactics to boost company profits. The argument that Welton intended to con the Navy from the beginning should be supported by the fact that Welton began billing labor charges at a rate that was around 62% higher each month.The Navy for signing an incentive contract and failing to check on the project's condition while it was ongoing, as well as the Welton Company for failing to provide accurate estimates during negotiations, make it difficult to make a judgment because both parties share responsibility. It is the responsibility of the Navy to prove that Welton purposefully supplied estimations that were not supported by the available historical evidence and instead promoted their own individual objectives. It would be challenging for the top management at Welton, who signed the "Truth of Negotiations" paper, to deny on evidence that they had not intended from the start to finish on time and get the reward.Lean more about Navy, here
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joint taxpayer filing a return with an agi of $105,000, $6,500 in mortgage interest paid, and $1,200 in mortgage insurance premiums paid has what potential maximum deduction for mortgage interest in ty2021?
The potential maximum deduction for mortgage interest in 2021 would be $6,500. This is because the taxpayer's AGI is above the threshold for the deduction and they have paid mortgage interest during the year.
What is mortgage interest?
The interest charged on the a lender used to buy a piece of property is referred to as mortgage interest. The percentage of a total amount of a mortgage that the lender issued that is used to determine the sum of interest due. Mortgage interest can be fixed or variable and compounds. In the initial phase of the loan, the majority of the borrower's payment goes forward into mortgage interest. In order to finance the purchase of a home or some other piece of property, the majority of consumers need a mortgage. In a mortgage agreement, this same borrower commits to paying the lender on time every month for a predetermined period of time, or until the loan is fully repaid or refinanced. A principal portion as well as interest are included in the mortgage payment.
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if the spot rate of the euro is $1.10 per euro and the 30-day forward rate is $1.00 per euro and you believe that the spot rate in 30 days will be $1.05 per euro, you can maximize speculative gains by:
You can try to maximize speculative gains by: signing a forward foreign exchange contract to sell dollars in 30 days.
How do we calculate forward and spot exchange rates?To calculate the forward rate, simply multiply the spot rate by the ratio of interest rates and manage for the time until expiration.
So, the forward rate equals to the spot rate x (1 + domestic interest rate) / (1 + foreign interest rate).
What is spot rate and forward rate?In common , a spot rate means to the current price or bond yield, while a forward rate means to the price for the same product or instrument at some points in the future. In commodities futures markets, a spot rate is the price for a commodity that is being traded immediately on the spot.
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a company upgraded production machinery to transmit data to the data warehouse about the fit tolerance for assembled parts of each unit produced as the measures are taken. before the upgrade, data was transmitted at the end of a production run. the upgrade represents an increase in group of answer choices data variety. data velocity. data veracity. data volume.
An increase in data volume is caused by the upgrading of production equipment to record information about the fit tolerance for assembled pieces of each unit produced.
Big data is a term used to describe vast quantities of data that are generally challenging for users to process, analyze, and manage using traditional data technologies.Big data essentially consists of the five (5) “Vs” of velocity, veracity, value, variety, and volume.Data volume describes the quantity of data that a company stores in a database for processing and analysis. Data volume so signifies the amount of data within an organization.
In this case, an increase in data volume is caused by an upgrade to the production equipment that records information about the fit tolerance for assembled pieces of each unit produced.The upgrade reflects an increase in Data diversity when the organization merely collected the fit tolerance data for it.The term “Data Variety” describes the range of data that were accessible during data collecting.The numerous types of data, which are obtained from various sources, may either be structured, unstructured, or semistructured.Here, only the fit tolerance data from the production gear was gathered and used to determine whether to improve the machine.
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pa 13. lo 6.5grainger company produces only one product and sells that product for $100 per unit. cost information for the product is: direct material $15 per unit direct labor $25 per unit variable overhead $5 per unit fixed overhead $34,000 selling expenses are $4 per unit and are all variable. administrative expenses of $20,000 are all fixed. grainger produced 5,000 units; sold 4,000; and had no beginning inventory. compute net income under absorption costing variable costing reconcile the difference between the income under absorption and variable costing.
The net income in the
absorption costing = $156,800The variable costing = $15000Reconciliation = $156800How to solve for the net income under the absorption costingWe have 4000 * 100 = 400000
direct materials = 15 x 4000 = 60000
direct labor = 25 x 4000 = 100000
Variable overhead = 5 x 4000 = 20000
fixed overhead = 34,000/5000*4000 = 27,200
Gross profit = 400000 - 60000 - 100000 - 20000 - 27200
= 192800
The selling expense = $4*4000 = 16,000
The administrative expenses = 20,000
net income = 192800 - 16000 - 20000 = 156,800
The absorption costing is $156,800
2. How to solve for the net income under the Variable costingSale = 4000 x 100 = 400000
variable cost = 15 + 25 + 5 + 4 * 4000 = 49 * 4000 = 196000
fixed cost = 34,000+20,000 = 54,000
The net income = 400000 - 196000 - 54000 = 150,000
Hence the net income under absorption is $156,800
The net income under variable costing is $150,000
3. Reconciliation
= 150000 + (34000 / 5000 * 1000)
= 150000 + 6800
= $156800
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What does the Government do with collected tax money ? (4 sentences)
Some of the use of the collected tax money (tax revenue) by a state or federal government includes:
payment of salaries of public workersbuying of security weapons for safetyprovision of basic or social amenities such as roads, powerprovision of quality education etcWhat are source of tax revenue?Basically, a tax revenue refers to the income that is collected by governments through taxation. A taxation is the primary source of government revenue and these revenue may be extracted from sources such as individuals, public enterprises, trade, royalties on natural resources, foreign aid etc.
However, an inefficient tax collection is greater in countries that is characterized by poverty, large agricultural sector and large amounts of foreign aid.
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The ceo of c & j construction is considering moving to a virtual network structure. What would be the best reason to make such a move?.
The strongest reason for such a move would be to concentrate on the organization's core strengths while outsourcing less important mission-critical jobs.
What exactly is a virtual network?
C&J Construction's CEO is thinking about switching to a virtual network topology. A loose connection of businesses that is managed by a small, centralized organization is referred to as a virtual network structure. This team is in charge of assigning tasks to the suitable businesses in the network. For instance, if C & J Building's primary business was construction, it could establish connections with engineering and sales firms to outsource such tasks and concentrate on construction.
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you just won the $92.5 million ultimate lotto jackpot. your winnings will be paid as $3,700,000 per year for the next 25 years. if the appropriate interest rate is 7 percent, what is the value of your windfall?
The total amount windfall tax will be $317,405, given the amount of $3,700,000 will be paid for next 25 years.
Amount that will be paid (a) = $3,700,000
Time period (n) = 25 years
interest rate (i) = 7% = 0.07
Present value of windfall tax = a [{1-1/(1+i)} ^25]/i
= 3,700,000 [1-1/(1.07) ^25]/0.07
= $317,405
A windfall tax is an increased tax percentage on earnings that arrive from a company or industry having received an unexpected capital gain. This seems to be frequently the consequence of a global political turmoil, war, or natural catastrophe that creates unexpectedly high requirement and/or supply shortages.
Governments worldwide have initiated windfall taxes for a range of reasons, which include funding social assistance programs, wealth distribution of unpredicted benefits when inflated costs benefit manufacturers at the cost of consumers and as an extra source of revenue for the federal government.
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on october 31, your company's records say that the company has $18,282.83 in its checking account. a review of the bank statement shows you have three outstanding checks totaling $7,151.89, and the bank has paid you interest of $19.09 and charged you $15.00 in service charges. the bank statement dated october 31, would report a balance of: (round your answer to 2 decimal places.)
According to the bank statement from October 31st, there is a balance of $11,135.03.
Describe a bank statement.The transactions for a bank account over a specific time period, typically monthly, are listed in a bank statement. The statement provides the beginning and ending balances for the period along with deposits, charges, and withdrawals.
A bank statement, also known as an account statement, is a record that summarizes all of an account's transactions for a given month and is normally issued by the bank to the account holder each month.
The calculation of the bank statement's amount as of October 31, is:
Ending balance $18,282.83
Less: Outstanding cheques -$7,151.89
Add: Interest received $19.09
Less: Service charged -$15
Reported balance $11,135.03
To get the stated total, we simply added the remaining goods to the ending balance after subtracting the outstanding cheques and service fees.
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if you have a dental emergency and your dentist pulls your severely infected tooth without prior negotiation about payment, or even any mention of payment, you have a(n) contract for the payment of his services.
You have an implied contract for the payment of his services if you have a dental emergency and your dentist extracts your very infected tooth without first discussing payment or even mentioning it.
What is an implied contract?An implied contract is a legally-binding duty that arises from the actions, conduct, or circumstances of one or more parties to an agreement. It has the same legal impact as a voluntary agreement established by two or more parties and communicated verbally or in writing, which is known as an explicit contract. The implicit contract, on the other hand, is assumed to exist and doesn't need to be confirmed orally or in writing.
According to the ideas underpinning an implied contract, no one should receive unjust gains at the expense of another, and fair play can be achieved without a written or verbal agreement.
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