subject
Business, 10.02.2020 20:42 macimitchell

Grace Williams purchased plates and cups from China Wholesalers for sale to retail customers at her store. Grace and China had little paperwork, just the invoices from the shipments. Otherwise, they operated by phone and shipments in response to the phone call requests. Grace’s orders range from $2000-$10,000. China decided to clean up its internal controls and documentation and asked Grace to sign a form agreement. Grace is not sure that she wants to sign a contract. Which of the following is correct, given Grace’s circumstances? a. There need not be a written contract because the parties have a longstanding relationship. b. There must be a written contract for any part of this relationship to be enforceable. c. Pattern or practice is sufficient writing to establish a contract. d. If China simply confirms each order from Grace, there is sufficient record of a contract.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 17:30
Aproject currently generates sales of $14 million, variable costs equal 50% of sales, and fixed costs are $2.8 million. the firm’s tax rate is 40%. assume all sales and expenses are cash items. (a). what are the effects on cash flow, if sales increase from $14 million to $15.4 million? (input the amount as positive value. enter your answer in dollars not in (b) what are the effects on cash flow, if variable costs increase to 60% of sales? (input the amount as positive value. enter your answers in dollars not in millions). cash flow (increase or decrease) by $
Answers: 2
question
Business, 23.06.2019 11:30
1. what are some of the barriers alibaba is facing as it expands globally?
Answers: 3
question
Business, 24.06.2019 01:30
Q2.21: a company that is concerned with identifying circumstances or events that have materiality and including the relevant information in their financial documents will be successful at complying with which principle in financial reporting?
Answers: 3
question
Business, 24.06.2019 02:30
A. describe and explain the objectives of an independent audit. b. identify five ways in which an independent audit may be beneficial to feller and provide detailed explanations as to why they may be beneficial.
Answers: 3
You know the right answer?
Grace Williams purchased plates and cups from China Wholesalers for sale to retail customers at her...
Questions
question
Mathematics, 25.05.2021 09:10
question
English, 25.05.2021 09:10
Questions on the website: 13722362