What is consideration and what are the two basic elements of consideration?
What will be an ideal response?
Consideration is the inducement, price, or promise that causes a person to enter into a contract and forms the basis for the parties' exchange. Contracts must be a two-way street. If one side gets all the benefit and the other side gets nothing, then an agreement lacks consideration and is not an enforceable contract. Consideration is proof that the parties intended to be bound to their promises. There are two basic elements of consideration: value and bargained-for exchange.
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When a corporation declares a small stock dividend, which of the following is false?
A) Cash decreases. B) Total stockholders' equity remains the same. C) The capital stock accounts increase. D) Retained earnings decreases.
In actual practice, short-term interest rates are just as likely to fall as to rise; this is the major shortcoming of the
A) market segmentation theory. B) expectations theory. C) liquidity premium theory. D) separable markets theory.
Describe thin-client development languages
What will be an ideal response?
Milar Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials 7.7pounds$4.00per poundDirect labor 0.1hours$20.00per hourVariable overhead 0.1hours$4.00per hourIn January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for January is:
A. $273 U B. $260 F C. $260 U D. $273 F