Consuelo and Gabriela enter into a contract for a sale of saxophones and other brass instruments. Consuelo delivers, but Gabriela does not pay. Consuelo can normally recover as damages
A. any profit lost minus any loss avoided.
B. whatever amount the seller wishes to claim.
C. the purchase price plus incidental damages.
D. the market price at the place at which the seller delivered the goods.
Answer: C
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Which of the following best describes vertical integration?
A) sell products to a supplier or a distributor B) develop the ability to produce products that complement the original product C) produce goods or services previously purchased D) develop the ability to produce the specified good more efficiently than before E) build long-term partnerships with a few suppliers
Like a forward market hedge, a money market hedge also involves a contract and a source of funds to fulfill that contract. In this instance, the contract is a loan agreement
Indicate whether the statement is true or false.
Which statement best describes the concept of realization as it applies to gain or loss?
A. Realization is the excess of adjusted basis over amount realized. B. Realization is the result of an exchange of property rights in a transaction. C. Realization is the recording of gain or loss on a tax return. D. Realization is the excess of amount realized over adjusted basis.
Beth and Jay project the following taxes for the current year:Regular tax$50,000AMT 10,000Self-employment tax 12,000How much in estimated tax payments (including withholding from wages and quarterly estimated payments) should the taxpayers pay this year in order to avoid underpayment penalties under the following assumptions regarding the preceding tax year?a.Preceding tax year-AGI of $140,000 and total taxes of $30,000.b.Preceding tax year-AGI of $175,000 and total taxes of $48,000.
What will be an ideal response?