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Trushil Patel
Answers (6)
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Ned and Bill complete an oral contract for the sale of land from Ned to Bill for $100,000.Bill pays Ned the $100,000,and then begins to build his house on the land.At this point,Ned says that the deal is off and refuses to convey the deed to Bill.In doing so,Ned relies on the statute of frauds.Is this agreement enforceable by Bill?
On Jul 12, 2024
Yes.Although the statute of frauds provision regarding the sale of real estate interests applies here and there was no writing,Bill's actions put him within the part performance exception for this provision of the statute.Thus,the contract is enforceable.
TP
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The Scanlon plan of gainsharing gives employees a bonus if the ratio of labor costs to the sales value of production is below a set standard.
On Jul 10, 2024
True
TP
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This is a leading self-regulatory body that provides directions for managing customer disputes and reviews advertising cases.
A) Consumer Financial Protection Bureau
B) Federal Trade Commission
C) Better Business Bureau
D) Open Compliance Ethics Group
E) Occupational Safety and Health Administration
A) Consumer Financial Protection Bureau
B) Federal Trade Commission
C) Better Business Bureau
D) Open Compliance Ethics Group
E) Occupational Safety and Health Administration
On Jun 12, 2024
C
TP
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Keith is developing an Internet auction-based business. After establishing his objectives, describing potential market segments, and evaluating the attractiveness of each segment, Keith now has to choose which target market to focus his efforts on. What factors should influence his decision?
On Jun 10, 2024
His ability to pursue each target segment is a key factor. Since it is an Internet auction-based business, Keith should be able to access information about past sales of similar products, number of bidders, and prices. This will help determine the attractiveness of each segment. He should also consider his strengths and weaknesses relative to the other competitors and look for opportunities and potential threats. He will also want to consider whether to adopt an undifferentiated, differentiated, concentrated, or micromarketing targeting strategy.
TP
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Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment) , and an analysis of customers' accounts indicates uncollectible receivables of $12,900. Which of the following entries records the proper adjustment for bad debt expense?
A) debit Bad Debt Expense, $14,000; credit Allowance for Doubtful Accounts, $14,000
B) debit Allowance for Doubtful Accounts, $14,000; credit Bad Debt Expense, $14,000
C) debit Allowance for Doubtful Accounts, $11,800; credit Bad Debt Expense, $11,800
D) debit Bad Debt Expense, $11,800; credit Allowance for Doubtful Accounts, $11,800
A) debit Bad Debt Expense, $14,000; credit Allowance for Doubtful Accounts, $14,000
B) debit Allowance for Doubtful Accounts, $14,000; credit Bad Debt Expense, $14,000
C) debit Allowance for Doubtful Accounts, $11,800; credit Bad Debt Expense, $11,800
D) debit Bad Debt Expense, $11,800; credit Allowance for Doubtful Accounts, $11,800
On May 12, 2024
A
TP
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The Nitrogen Fixation Department of Tomco Company began the month of December with beginning work in process of 4000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 12000 units. Ending work in process contains 10000 units that are 100% complete as to materials and 40% complete as to conversion costs.
Instructions
Compute the equivalent units of production for materials and conversion costs for the month of December.
Instructions
Compute the equivalent units of production for materials and conversion costs for the month of December.
On May 11, 2024
