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- Ultimately, _________ was replaced by the _________ on January 1st 1995. Question 2Answer a. GATS, WTO b. WTO, GATT c. IMF, GATT d. GATT, WTOSCENERIO 1: After his retirement in September 2019, A moved to Antalya, bought a building and did all arrangements to convert the building to a hotel. When he finished all the works as to the hotel, it was 15 January 2020. Since it was not a summer season, A decided not to operate the hotel actively until 15 May 2020. However, A opened a website for this hotel on 15 January and announced there that she established a commercial enterprise and gave information there as to reservation, fee and address of the hotel and uploaded the photos of the hotel. She printed circulars as to hotel and handed out to people. She also registered his commercial enterprise to the Commercial Register. QUESTION 1: According to the scenario 1 given above, choose the correct statement among followings: ....................... a) Article 1523 of TCC imposes an obligation on every merchant to open a website. b) A had a status of merchant on 15 May 2020 since this was the date which the hotel started to be…Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc. Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, $1,868.82; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid $94.73 for shipping. Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, $148.68. Required: 1. For Ford Education Outfitters. Round your answers to the nearest cent. PLEASE SEE ATTACHED IMAGES
- R(lessor) issued a receipt that E(lessee) has paid the rent for the months of March, 2008. Can R still collect 5. from E the rents for January and February,2008?1. The men's department had sales of $60,000 for December. During the month, the buyer reduced prices of 38 suits from $695 to $445 and that of 20 suits from $550 to $287. What was the markdown percent for the month? Present your answer with a %-sign, rounded to two decimal places (i.e. 19.47%). 2. A giftware buyer received 36 crystal clocks that retailed for $79 each. Five clocks sold at that price before a special sales event. The remaining 31 clocks were marked down to $58. Nineteen of the clocks were sold during the sale, and the remaining clocks were marked to the original $79 price. The remaining clocks were eventually sold at full price. Calculate the net markdown percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). 3. Alma, a sales associate, receives a 20% employee discount. Because she was the top sales associate of the month, Alma was given an additional 10% discount for the month of March. During March, Alma purchased a…Abbott contracted to deliver to Olcott 2,000 cubic yards of fill for grading a low area in the latter’s property. In return therefore, Olcott was to deliver to Abbott 25 tons of 3/4-inch reinforcing bars. Abbot delivered 500 cubic yards of fill, and that was all. What is Olcott’s obligation?
- chapter 4 6. A retailer in Atlanta ordered a shipment of shoes totaling $15,800 from a vendor in California. The shipping cost was $220. The shoes were shipped FOB Atlanta; charges reversed. The shoe vendor gave the retailer a 1% damage allowance. How much did the retailer pay the vendor for the shoes? (Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?J is injured in an accident on K’s premises. K has a commercial general liability policy with a $300,000 combined single limit. The court awards J $6000 for medical expenses and $15,000 for pain and suffering. The court costs and attorney fees charged to k amount to $4800.In this situation, k’s policy will pay $10,800 $21,000 $25000 $25800
- Explain your understanding of the following general construction matters:2.5 Explain the extend of the ‘Defects Liability Period’ and what happens where a subcontractor’s defectsliability period extends beyond that of the main contractor (5)37. Reduce the required provision if some or all of the expenditure required to settle a provision is expected to be reimbursed by another party, when, and only when, it is probable that reimbursement will be received if the enterprise settles the obligation. Select one: True or FalseFor a disposal group to be considered held for sale, which of the following conditions are required to be met? Management has committed to a plan to see the component. The sale is probable and is expected to be completed within one year. The component is available for immediate sale in its present condition subject only to usual and customary terms for such sales. All of these conditions must be met.