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lukranit [14]
1 year ago
14

Construction Products Company and Dante enter into a contract for a sale of bricks and stones. Construction Products knows the p

urpose for which Dante will use the goods. Under the UCC, an implied warranty of fitness of a particular purpose arises Group of answer choices
Business
1 answer:
Dafna1 [17]1 year ago
3 0

Complete Question:

Construction Products Company and Dante enter into a contract for a sale of bricks and stones. Construction Products knows the purpose for which Dante will use the goods. Under the UCC, an implied warranty of fitness of a particular purpose arises:

Group of answer choices.

a. if the buyer is relying on the seller to select suitable goods.

b. if the buyer asks for it.

c. if the seller is a merchant who deals in goods of the kind sold.

d. in conjunction with lease contracts, not sales contracts.

Answer:

a. if the buyer is relying on the seller to select suitable goods.

Explanation:

In this scenario, Construction Products Company and Dante enter into a contract for a sale of bricks and stones. Construction Products knows the purpose for which Dante will use the goods (bricks and stones). Under the Uniform Commercial Code (UCC), an implied warranty of fitness of a particular purpose arises if the buyer is relying on the seller to select suitable goods. This simply means that, Construction Products who is the seller of the bricks and stones implied a warranty of fitness because they know the purpose for which Dante will use the acquired goods and should meet his requirements or needs.

<em>Hence, Construction Products Company is bounded by the contractual agreement (warranty) to provide quality goods which would meet Dante's reasons for buying them since he relying on their expertise or judgmental skills. </em>

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Answer:

a) Accounts Receivable 2015 = $443,000 2014 = $515,600

b) Bad Debt Expense = $144,100

c) Gross sales = $6,083,300

d) Cash collected from Customers = $6,005,000

Explanation:

a and b are given.

c) Gross Sales = $6,076,500 + $6,800 = $6,083,300

d) Cash collected = opening balance in Account receivable + credit  Net sales - Bad debt - Closing balance in Accounts Receivables

                            = $515,600 + $6,076,500 - $144,100 - $443,000

                           =$6,005,000

4 0
1 year ago
You are a bond analyst working for a hedge fund. A bond you follow has face value 100, has a coupon rate of 5% (paid once a year
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Answer:

$101.22

Explanation:

Please see attachment

7 0
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The Reid Co. acquired a piece of land for a new factory paying $100,000. Reid demolished the old building at a cost of $20,000,
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Answer:

A$118,000 B.$333,000

Explanation

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Scrap value(5,000)

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3 0
2 years ago
Read 2 more answers
The number at the bottom right of each supplier’s box shows the portion of Boeing’s costs in thelast year that went to that supp
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Answer:

both

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Explanation:

Since United Continental's purchases of Boeing planes represent over 60% of their capital expenditures, this means that Boeing had to be the primary plane supplier. Even if the company purchased planes form other manufacturer, their purchases would not even be 40% of the company's purchases.

The same applies to Southwest Airlines, even though the purchases from Boeing are a little lower, they are still over 51%. This means the company could not have spent more money on purchasing planes from another company. The maximum purchase from another airplane manufacturer would have been less than 49% at most.

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If your credit card limit is $800 and your outstanding balance is $725, what is the largest amount you can charge on that card i
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Answer:

The correct answer is letter "C": $75.

Explanation:

The outstanding balance in a credit card represents the amount of money the account holder used out of the credit limit of the card. It also represents the debt the cardholder has with the financial institution that issued the card. The full credit limit will be available once the outstanding balance is paid off.

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