Negative net profit $2,000 to be reported in the profit or loss statement. also this will be reported as current years retained earnings this negative figure will lower the previous retained earnings balance.
What is Revenue?Revenue is the amount that an organization receives for the goods sold or services provided, the revenue is the core reason for the company to exist, revenue is generated and paid by the customers of the organization.
It is highly followed that the expenses of a company is lower than the revenue it generates. However in the given question Larry seems to be the sole trader and that is why he is paying the salary to himself.
The loss is calculated as
Gross profit is calculated first as
revenue - Cost of goods sold i.e $25000 - $7000 = $18000
then net loss = Gross profit - Administrative expenses i.e $18000 - $20000 = -$2000.
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If demand increases, ceteris paribus, market price will be ______ at the new equilibrium point.
By examining the signs of the eigenvalues of the linearization of the equilibria's equations, equilibria can be categorized. In other words, the equilibria may be classified by evaluating the Jacobian matrix at each of the system's equilibrium points and then determining the resulting eigenvalues.
Then, by locating the eigenvector(s) associated with each eigenvalue, the behaviour of the system in the vicinity of each equilibrium point can be qualitatively (or even statistically, in some cases) identified. If none of the eigenvalues at an equilibrium point have zero real component, the equilibrium is hyperbolic.
The point is stable if all of the eigenvalues have negative real portions. The point is unstable if at least one has a positive real part.
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A duty that a principal owes to pay an agreed-upon amount to the agent either upon the completion of the agency or at some other mutually agreeable time is known as a principal's ___ __
A duty that a principal owes to pay an agreed-upon amount to the agent either upon the completion of the agency or at some other mutually agreeable time is known as a principal's duty to compensate.
What is principal's duty to compensate?An agency connection may be complimentary or compensated. The principal is required to pay the agent reasonable compensation if the conditions of compensation are not specified in the agency agreement.
The main duty owed to the principal are-
A principal's obligations to an agent are primarily to pay the agent as agreed upon and to indemnify and hold harmless the agent from any claims, liabilities, or costs incurred as a result of the agent properly carrying out the principal's instructions.A principal has legal obligations to fulfil toward an agent. The two main obligations a principle has to an agent are to pay the agent as agreed upon and to indemnify and hold the agent harmless from any claims, liabilities, or costs incurred as a result of the agent properly carrying out the principal's instructions.The principal is responsible for paying the agent any commissions that may be due to him in that capacity, as well as any other money owed to the agent for advances made or legitimate expenditures spent by the agent while acting as the principal's agent.Therefore, unless the agent has decided to act for free or gratuitously, the principal must pay the agent.
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You deposit $500 in an account earning 5% interest compounded annually. How much will you have in the account in 20 years
If you deposit $500 in an account earning 5% interest compounded annually, the account balance in 20 years will be $1,326.65.
What is the future value?The future value represents the value of a cash flow or investment over a period compounded periodically at an interest rate.
The future value can be determined using the future value formula, table, or an online finance calculator, as in this case.
Data and Calculations:N (# of periods) = 20 years
I/Y (Interest per year) = 5%
PV (Present Value) = $500
PMT (Periodic Payment) = $0
Results:
FV = $1,326.65
Total Interest = $826.65
Thus, if you deposit $500 in an account earning 5% interest compounded annually, the account balance in 20 years will be $1,326.65.
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The amount that would be in the account in 20 years is $1,326.65
What is compound interest?
Compound interest means that interest earned previously would earn additional interest in future, in other words, interest upon interest is earned.
In order to determine the accumulated amount in the account after 20 years, we would make use of the future value of a single cash flow:
FV=PV*(1+r)^N
FV=future value after 20 years=unknown
PV=initial deposit=$500
r=annually compounded interest rate=5%
N=20 years
FV=$500*(1+5%)^20
FV=$1,326.65
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Allentown sits on the river, and its many bridges need repair. which police power is allentown likely to use in order to fund improvements to its bridges?
Taxation is the correct answer. Construction of a planned development project is either permitted or disallowed based on the results of a development approval process. What a development approval process can or should contain is open to a great deal of legal and political entitlement.
A development project is frequently referred to as an entitlement process since authorization to move on with development is known as an entitlement. They make the decision about the granting of entitlement for projects.
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Recently, beagle boutique was attempting to hire a middle manager. they were looking for an intelligent, active, and creative individual. which approach to leadership was beagle using?
Recently, beagle boutique was attempting to hire a middle manager. they were looking for an intelligent, active, and creative individual. Beagle used the trait approach. This is further explained below.
What is the trait approach?Generally, An individual's attributes are used as indicators of their personality in a trait-based approach.
In conclusion, Beagle Boutique recently tried to find a middle manager. They were seeking someone who was energetic, clever, and creative. Beagle used the trait approach
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Which of the following components of the performance management cycle involves gaining an in-depth understanding of a team or an organization's goals, the role of the followers in the goal accomplishment, and the context in which the followers operate
Planning is the components of the performance management cycle involves gaining an in-depth understanding of a team or an organization's goals, the role of the followers in the goal accomplishment, and the context in which the followers operate.
What is business planning?This is the term that is used to ref rto all of the ways that is used to put up the overall functioning of a business.
This is the way of getting the roles that are to be played in the ways that they should be carried out and all of the ways that would be used to put the components of the business together.
Business planning is a very serious component of the business because it helps to ensure that the business would turn out to be successful.
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Jane Bouvier is a computer scientist working for a state university. Her job description states that she is responsible for the development and maintenance of the College of Business web sites. Jane was not permitted to take the training classes that her male counterparts in other colleges in the university were permitted to take, at university expense. Jane felt that she was falling behind without this additional training. When she raised her concern to her supervisor she was told that she would have to pay for the training herself. Answer the following questions:
a. What law is the university likely violating and what type of claim should Jane bring under this law?
b. What does Jane have to establish to prove discrimination in this case?
c. What case from the text is similar to this situation?
Please explain your answers.
The law that the university likely violating is the civil rights law.
a. What law is the university likely violating and what type of claim should Jane bring under this law?
The University is violating title VII of the Civil Rights Act of 1965 and Jane can file the complaint with the EEOC to enforce her rights.
b. What does Jane have to establish to prove discrimination in this case?
She just need to prove she has been discriminated on the basis of gender. She was not paid for her training because she was woman.
What case from the text is similar to this situation?
The similar case is Moore Vs Alabama state university, 980 F. Supp.426
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Two partners own equal shares in a business worth a total of $1,000,000. If they both commit to the purchase of a life insurance policy that will fund a Buy-Sell Agreement, which of the following is True
D) Each partner owns a $500,000 policy on their partner's life.
The amount of coverage is equivalent to each accomplice's share of the commercial enterprise. While one partner dies, the opposite companion gets the loss of life benefit from the lifestyle insurance of the deceased accomplice, which is then used to buy the deceased accomplice's ownership of the commercial enterprise.
The motive of key man or woman insurance is to mitigate the loss to the economic company due to the lack of existence of a key employee. All of the following beneficiaries get to maintain the dying advantages exempt from probate: partner.
In case you are a task supervisor, you might be wondering if you need to buy coverage. Assignment managers want to shop for coverage. At the least, all venture managers have to have prison responsibility coverage. In case you do not have felony duty coverage, a lawsuit can also need to take a big part of your income.
Your question is incomplete. Please find below the complete question.
Two partners own equal shares in a business worth a total of $1,000,000. If they both commit to the purchase of a life insurance policy that will fund a Buy-Sell Agreement, which of the following is TRUE?
A)Each partner owns a $1,000,000 policy on their own life
B)Each partner owns a $1,000,000 policy on their partner's life
C)Each partner owns a $500,000 policy on their own life
D)Each partner owns a $500,000 policy on their partner's life
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Your visualization is in the form of a column chart showing annual sales by salesperson. How can you add an additional visualization to the chart to show your company's sales goal for the year?
To add an additional visualization to the chart to show your company's sales goal for the year a constant line from the Analytics tab can be applied . First option is correct.
Sales reps and teams employ sales goals, which are measurable objectives, to direct them in their daily sales efforts and assist them in making broad strategic decisions. KPIs and certain sales indicators are typically the foundation for sales targets.
Charts used for data visualization are graphical representations of data that use symbols to convey a story and help users better understand enormous amounts of data.
Thus, first option is correct.
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The above question is incomplete and the probable complete question is given below.
Your visualization is in the form of a column chart showing annual sales by salesperson. How can you add an additional visualization to the chart to show your company's sales goal for the year?
Select an answer: Add a Constant Line from the Analytics tab. Modify the X-Axis from the Formatting tab. Modify the Y-Axis from the Analytics tab. Add a Constant Line in the Formatting tab.
Bottom, inc. paid an invoice for $1,000, with discount terms of 1/7, n/30, within the discount period. the net amount paid was:______.
a. $1,000.b. $980.c. $1,020.d. $998.
the net amount paid was: $998
Invoice discounts are probably the simplest form of invoice financing. Like all types of invoice loans, invoice discounts sell unpaid invoices to lenders and offer cash invoices equal to the percentage of the value of the invoice. When your customer pays the invoice, the lender pays you the balance minus their charges.
Invoice rebates give businesses instant access to the value of cash and sales summarized on unpaid invoices. It's easy, when you charge a customer or principal, the lender gives you a percentage of the total amount and gives your business a cash flow boost.
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If at the end of the fiscal year, the variances from standard are significant, the variances should be transferred to the a.work in process, cost of goods sold, and finished goods accounts b.work in process account c.finished goods account d.cost of goods sold account
If,at the end of the fiscal year, the conflicts from the standard are significant the disagreements should be transferred to the work in process account.
Variance In Fiscal YearThe fiscal year variant includes the number of assigning periods in the fiscal year and the number of unique periods. One can wait year in the Controlling component (CO).
Work In Process AccountWork in progress analysis involves following the amount of WIP in commodities at the end of an accounting span and allocating a cost to it for inventory valuation objectives, based on the percentage of consummation of the WIP items.
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Rothbart Manufacturing agrees to manufacture bumper cars for Banners Amusement Parks. Under the terms of the contract, Banners will pay Rothbart a total of $60,000, and Banners can cancel the contract if it so chooses but must pay Rothbart for work completed. Rothbart believes that, if Banners cancelled the contract, Rothbart could sell the bumper cars to another amusement park and still make a profit. The manufacturing contract is expected to last six months, and as of December 31, 2024, the job is 80% complete. How much revenue should Rothbart recognize in 2024 for this contract
Based on the information given, no revenue will be recognized.
How to illustrate the information?It should be noted that the revenue is recognized when the title to the goods passes from the seller to the buyer.
Therefore, revenue is to be recognized only when control is transferred
This occurs when the entity has a present right to payment for the asset. This didn't occur based on the information given. Therefore, no revenue will be recognized.
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At the end of the previous year, a customer owed Days Company $400. On February 1 of the current year, the customer paid $600 total, which included the $400 owed plus $200 owed through February 1st. The journal entry on February 1 is
The journal entry on February 1 for Days Company is as follows:
Journal Entry:February 1:
Debit Cash $600
Credit Accounts Receivable $600
To record the receipt of payment on account.Transaction Analysis:February 1: Cash $600 Accounts Receivable $600
Thus, the journal entry on February 1 will increase Cash by $600 and reduce Accounts Receivable by $600.
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Delivering health care goods and services requires several inputs, in economic terms. These inputs can be classified as either Question Blank 1 of 1 Answer or nonlabor.
Delivering healthcare goods and services requires several inputs in economic terms these inputs can be classified as either labor or non-labor.
What are non-labor inputs?Speaking from the perspective of the factors of production, on one hand, non-labor inputs refers to such inputs as:
EnergyLandCapital Information etc.The amount of labor input is calculated as either the number of employees or the number of hours they put in during a specific time period, such a year.
The majority of nations gather information on the number of employees and are able to compute labor productivity as output per employee.
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The credit purchase of a new oven for $6,500 was posted to Kitchen Equipment as a $6,500 debit and to Accounts Payable as a $6,500 debit. What effect would this error have on the trial balance
The effect this error would have on the trial balance would be when the trial balance is completed, the amount in the debit column will be more than the amount in the credit column by $13,000.This is further explained below.
What is a trial balance?Generally, In a double-entry accounting system, if there is a discrepancy between the debits and credits, it means there was a mistake.
In conclusion, If this mistake is included in the final trial balance, it will cause the debit column to exceed the credit column by $13,000. You may learn more about this in the sections below.
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________ is the shift from people making their own fun to people purchasing it as goods and services.
The commodification of recreational activities is the shift from people making their own fun to people purchasing it as goods and services.
What is commodification?This is when values are assigned to objects or things which are previously meant for fun. Commodification occurs when something that used to have intrinsic value gradually develops a monetary value like water, or sunshine, or knowledge as an example.
Here, human and socio cultural value are converted into market value which also applies to goods, services, ideas, and other forms and products.
Commodification provides benefit to a business environment which includes opportunities for developing new products and services inorder to meet ever changing customer needs and demand.
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If the federal government requires state governments to implement a public health program but does not grant the state governments any money to run that program, the federal requirement is a(n)?
When the federal government implements a new program but does not release any grants to state governments to carry out the program, this is an Unfunded mandate.
What is an unfunded mandate?This refers to a policy by the federal government which would have to affect all the states because the federal government is national.
A lot of the time., the federal government will give states funds to enable them to carry about new programs from the federal level so that the programs can be implemented effectively. Sometimes however, they won't do this and this will be an unfunded mandate.
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A donor gave equipment valued at $90,000 at the beginning of 2020 to a private not-for-profit organization. The equipment had a 10-year life and depreciation of $9,000 was charged during 2020. At the end of the year, the net assets to be reported in unrestricted net assets related to this equipment would be:
The net asset would be $81,000 or $0 depending upon the policy of the Non-Profit Organization.
What is a Non-Profit Organization?A non-profit organization is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members. "Non-stock corporations" are a common moniker for nonprofit organizations. They may be organized as a corporation, a sole proprietorship, an unincorporated association, a partnership, a foundation, a condominium, or another type of individual enterprise (for instance, individual charitable contributions) (joint ownership of common areas by owners of adjacent individual units incorporated under state condominium acts). When they are established, nonprofit organizations must declare themselves to be so and are only allowed to work on projects that fall under their legal definition.The value of the equipment given by the donor = $90,000
The charge of depreciation = $9,000.
The total assets of a business less the total liabilities equals the entity's net assets. The sum of a company's net assets equals its stockholders' equity in whole. Net assets are divided into unrestricted and restricted net assets of a nonprofit organization.
The net asset would be either $81,000 or $0.
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What does the quantity theory predict will happen to inflation if the money supply rises 10 percent?
The quantity theory predicts a 10% rise to happen to inflation if the money supply rises 10 percent.
The quantity theory of money is one of the main areas of study for the subject of economics known as monetary economics.
The quantity theory of money states that, under the assumption that real output is constant and money velocity is constant, the general level of prices for goods and services in an economy is proportionate to the money supply.
The forces that affect the supply and demand of any good or service also affect the supply and demand of money: ceteris paribus, an increase in the quantity of money results in a fall in the marginal value of money, which lowers the purchasing power of one unit of currency.
Hence, a 10% rise happens to inflation if the money supply rises 10 percent according to quantity theory.
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What are three key pieces of information that you can retrieve from the new car labels?.
The three key pieces of information that you can retrieve from the new car labels are: exterior and interior color, engine and transmission combination, the model year and trim level of the vehicle.
What is labels?Labels can be defined as a paper attach to a products or an item that contain information which help to describe a products.
Them three key pieces of information that a person can tend to retrieve from the new car labels are:
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The Hoyt and Burgess models of land use both assume that __________. A. growth expands in zones along railroads and highways B. perishable items are grown closest to the city center C. the wealthy live in the outermost ring D. the central business district is the epicenter
The main public policies of technological leading countries are _______________ focused on investment, including investment in human capital, in technology, and in physical plant and equipment.
The main public policies of technological leading countries are fiscal policies focused on investment, including investment in human capital, in technology, and in physical plant and equipment.
Fiscal policies are that useful tool of government that inluences the taxation and investment on the economy to promote sustainable growth and development and the economy.
Three main kinds of fiscal policy which can be classified are nuetral, expansionary and contractionary in terms of the country redressal.
They are done to cut down tax rate , control expenditures and overall capital investment to increase the growth of GDP.
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Which one of the following is unlikely to be an effective or attractive way to try to reduce total production costs per pair at a particular production facility
An unlikely ay to be effective or attractive way to try to reduce total production costs per pair at a particular production facility is performing actions to avoid any use of overtime. This is further explained below.
What is production costs?Generally, Production costs are the expenses a business has to pay while producing a product or offering a service that brings in money for the business.
In conclusion, One of the least probable ways to minimize the overall cost of a pair of shoes at a given manufacturing site is to avoid using overtime.
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Exhibit depicts a monopolistically competitive firm a. generating profits in the short run. b. It is impossible to determine from this graph whether the firm is generating profits or losses. c. generating zero profits in the long run. d. generating losses in the short run.
The graph shows about monopolistically competitive firm that it is impossible to determine from this graph whether the firm is generating profits or losses..
What is a monopolistically competitive firm?These are firm involved in an imperfect competition where there are many producers competing against each other but selling products that are differentiated from one another and hence are not perfect substitutes.
The characteristics of a monopolistically competitive industry includes:
Many sellers.Easy entrance. Differentiated products.Local Advertising.Hence, the graph shows about monopolistically competitive firm that it is impossible to determine from this graph whether the firm is generating profits or losses..
Therefore, the Option B is correct.
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Question Content Area FIFO reports higher gross profit and net income than the LIFO method when a.prices are decreasing b.prices remain stable c.prices are reduced by 50% d.prices are increasing
The correct answer is Option A.
FIFO reports higher gross profit and net income than the LIFO method when prices are increasing.
What is Gross Profit?Gross profit is the amount of money a business makes after deducting costs for producing, distributing, and selling its goods or services. A company's income statement will show gross profit, which is derived by deducting cost of goods sold (COGS) from revenue (sales). The income statement of a business will contain these numbers. Sales profit or gross income are other names for gross profit. Gross profit measures how well a business uses its work force and resources to produce goods and services. The main focus of the metric is on variable costs, or expenses that change depending on the volume of output.The FIFO technique refers to an inventory system where the most recent purchases make up the ending inventory and the first products acquired are assumed to be sold first (i.e., First In First Out).
The LIFO approach, on the other hand, is the exact opposite. The first item purchased makes up the ending inventory, and the most recent purchases are sold first (last item that is in is sold first).
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Canners Company uses weighted-average costing. Beginning work in process inventory had $3,650 of material costs. During the period, $5,000 of materials and $9,250 in conversion costs were added. If there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is ______. Multiple choice question. $71.60 $20.00 $57.00 $34.60
If there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is (D) $34.60.
What is weighted-average costing?To apply the weighted average methodology, divide the cost of the commodities on the market by the number of units still on the shelf. This calculation results in the weighted average cost per unit, which can subsequently be used to allocate a cost to both ending inventory and the cost of goods sold.When you wish to give some numbers in a dataset more weight than others, you should use a weighted average. This is beneficial in situations where a single event might have several positive or bad outcomes, but the scale of the positive or negative outcomes varies.Weighted average cost per unit formula = divide the total purchase price by the number of units available for sale
∴ $3,650 + $5,000 / 250 = $34.60
Therefore, if there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is (D) $34.60.
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Complete question:
Canners Company uses weighted-average costing. Beginning work in process inventory had $3,650 of material costs. During the period, $5,000 of materials and $9,250 in conversion costs were added. If there are 250 equivalent units of production for materials, the cost per equivalent unit for materials is ______. Multiple choice question.
(A) $71.60
(B) $20.00
(C) $57.00
(D) $34.60
4. Suppose an 802.11b station is configured to always reserve the channel with the RTS/CTS sequence. Suppose this station suddenly wants to transmit 1,000 bytes
The time required to transmit the frame and receive the acknowledgment DIFS + 3SIFS +820μsec
What is Bytes?Digital information is stored in units called bytes, which typically have eight bits.The byte is the lowest addressable unit of memory in various computer architectures because it was historically the amount of bits needed to encode a single character of text in a computer.Network protocol specifications such as The Internet Protocol (RFC 791) refer to an 8-bit byte as an octet to distinguish them from the ordinary 8-bit definition.Depending on the bit endianness, an octet's bits are typically counted from 0 to 7 or 7 to 0, respectively. Since the initial bit is a zero, the eighth bit is a seven.Know more about Bytes numerical https://brainly.com/question/15166519
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I hope you are trying to ask the question below:
Question:
Suppose an 802.11 b station is configured to always reserve the channel with the RTS/CTS sequence.
Suppose this station suddenly wants to transmit 1,000 bytes of data, and all other stations are idle at this time.
As a function of SIFS and DIFS, and ignoring propagation delay and assuming no bit errors, calculate the time required to transmit the frame and receive the acknowledgment.
Which is the term used to describe the day to day actions & capabilities that help a person to be productive and well rounded?
The term which is used to describe the day to day actions & capabilities that help a person to be productive and well rounded is called life skills. Life skills are refered to as a series of social competencies and interpersonal skills that assist people make quality decisions, solve problems, and think critically and creatively, converse in speech function effectively, behave well, relate with others, and manage their lives.
What are the life skills?The basic life skills include the following:
Emotional Intelligence (EQ) Skills. Money Management SkillsCritical Thinking SkillsDaily Living SkillsCommunication SkillsTherefore, the correct answer is as given above
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The total of the balances in the creditors' accounts should agree with the balance of:______
The total of the balances in the creditors accounts should agree with the balance of, "the Accounts Payable account in the general ledger."
We balance the accounts payable in the general ledger because it serves as a check to ensure that for every transaction, a debit recorded in one ledger account has been matched with a credit in another. If there is a double entry, the total of the debit balances should always equal the total of the credit balances.
Hence, the purpose of the accounts payable ledger and its subsidiary accounts is to display a company's debt to each of its suppliers, creditors, or vendors in a spreadsheet to more accurately track the data.
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What is it called when one party to a contract transfers the contractual rights and obligations to another but remains liable for the contract terms
An assignment is it called when one party to a contract transfers the contractual rights and obligations to another but remains liable for the contract terms.
What is contract assignment?This is a term used in law of contract and of property and assets, which is when a party transfers his or rights(assets) to the other party.
Here one party wishes to leave a contract and transfer their role to a new, incoming party. For the transfer to be legal, the process must be documented and sealed by the signature of both parties in the presence of their lawyer.
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