Don't copy previous Chegg answer Identifying the Validity of a Contracts Features ...
50.1K
Verified Solution
Question
Accounting
Don't copy previous Chegg answer Identifying the Validity of a Contracts Features Required The following items are from separate contractual agreements. Indicate which of the following requirements of a valid contract is primarily addressed in each of the items: commercial substance, approval, identifiable rights and obligations, identifiable payment terms, and probable collection. a A contract for the sale of packaging to a manufacturer over a threeyear period allows for the price of the packaging to increase with changes in the Consumer Price Index to be determined at the end of each year b The amount of a sellers future cash inflows are expected to change by $ as result of a contract. c A customer is negotiating a contract with its supplier for specialized equipment. The specifications of the equipment have been determined as well as the price. The date and means of delivery are still under negotiation. d A wholesaler sells electronics to a retailer in January. Due to the slow payment for a previous order, the wholesaler requested a deposit upfront for the purchase. The wholesaler expects the remaining payment to be collected. e A customer purchases dog food at a retailer for cash of $ through a selfservice, automated checkout register. The customer did not sign a written agreement to purchase the item or verbally agree to purchase the item. f A hospital treats an uninsured patient for emergency services. The amount billed to the patient for services was $ but the average collection amount from an uninsured patient is approximately of billed services.
Don't copy previous Chegg answer
Identifying the Validity of a Contracts Features
Required
The following items are from separate contractual agreements. Indicate which of the following requirements of a valid contract is primarily addressed in each of the items: commercial substance, approval, identifiable rights and obligations, identifiable payment terms, and probable collection.
a A contract for the sale of packaging to a manufacturer over a threeyear period allows for the price of the packaging to increase with changes in the Consumer Price Index to be determined at the end of each year
b The amount of a sellers future cash inflows are expected to change by $ as result of a contract.
c A customer is negotiating a contract with its supplier for specialized equipment. The specifications of the equipment have been determined as well as the price. The date and means of delivery are still under negotiation.
d A wholesaler sells electronics to a retailer in January. Due to the slow payment for a previous order, the wholesaler requested a deposit upfront for the purchase. The wholesaler expects the remaining payment to be collected.
e A customer purchases dog food at a retailer for cash of $ through a selfservice, automated checkout register. The customer did not sign a written agreement to purchase the item or verbally agree to purchase the item.
f A hospital treats an uninsured patient for emergency services. The amount billed to the patient for services was $ but the average collection amount from an uninsured patient is approximately of billed services.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.