A checking account is what you would use to make everyday purchases, and what you usually put the majority of your check into. Savings accounts are used to save money over periods of time. A percentage of your check may go in a savings account that you don't use.
Answer:
False. There is no legal contract without value consideration.
Explanation:
The following elements must be present to declare a contract legally binding and valid.
An offer for a good or service that is being exchanged, An acceptance of this offer, A consideration which is usually the value of the goods and services that are being exchanged.
While this transaction fulfills the offer and acceptance elements, the consideration or value specification is unfulfilled and as such there is no legally binding valid contract as the prices have not been specified before agreeing to transact.
There might not be any need be for specifying prices if there is a trade, which is both parties exchange goods but in this case there is just one party delivering goods.
Hope this helps.
Answer:
B. ticketing and marking
Explanation:
Floor ready is the term used to refer to the merchandise which is ready to sale and that the merchandise is detailed with every description required.
That means it is ready with the size, quality, and quantity that is required to be marked.
Along with that it is even priced more properly and is already tagged with the label of description and price.
This all labeling and ticketing is basically done in the retail store before it is offered to the customer.
Answer: Debit Research and Development expense $477,000
Credit Cash $477,000
Explanation:
The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.
Based on the information given in the question, the journal entry for Sheffield Corporation will be:
Debit Research and Development expense $477,000
Credit Cash $477,000
Answer:
elastic, because many other firms produce the same standardized product
Explanation:
A good has perfect price elasticity when a change in price leads to an infinite change of quantity demanded.
A perfect competition is when there are many buyers of homogenous goods and services. The sellers are price takers; prices are set by the market force.
A perfect competition has perfect price elasticity because goods sold are standardised and identical with other goods in the market. If the seller increases its price, it's demand would fall to zero as consumers would shift demand to other subsituite goods.
I hope my answer helps you.
