On July 10, Boogie Footware Agrees to a Contract to Sell

question 26

Multiple Choice

On July 10, Boogie Footware agrees to a contract to sell 800 pair of flapper shoes for $16,000 to Twenties, Inc. On September 1, after 500 pair of have been delivered, Boogie and Twenties modify the agreement to reduce the price of the remaining 300 pair of flapper shoes to $10 a pair. During September, Boogie delivers 200 pairs of shoes. How much revenue will Boogie recognize for the month of September?

• A) $3,000
• B) $2,000
• C) $1,625
• D) $1,375

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Definitions:

Entitativity

The perception or quality of being a distinct entity, often used in social psychology to discuss how individuals perceive groups as coherent, unified wholes.

Prejudice

Prejudice is a preconceived opinion or judgment toward people or a group without sufficient knowledge, thought, or reason.

Stereotyping

The act of assigning oversimplified or generalized traits, behaviors, or beliefs to a particular group of people without acknowledging individual variation.

Case Study

A research method that involves an in-depth analysis of a single individual, event, or group to explore causation in order to find underlying principles.