On July 15, Zink Jewels Agrees to a Contract to Sell

question 2

Multiple Choice

On July 15, Zink Jewels agrees to a contract to sell 4,000 promise rings for $100,000 to Costless Stores, Inc. On October 1, after 2,000 rings pair of have been delivered, Zink and Costless modify the agreement to reduce the price of the remaining 1,000 rings to $12 each. During October, Zink Jewels delivers 600 rings. How much revenue will Zink recognize for the month of October?

• A) $13,050
• B) $7,200
• C) $3,300
• D) $2,175

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Definitions:

Sound Argument

An argument that is both valid (correctly structured so that the conclusion logically follows from the premises) and has all true premises.

Bandwagon Fallacy

A logical error that concludes something is true, good, or desirable because many other people agree with it or are doing it.

Argument Sound

A quality of an argument wherein it is both valid and its premises are true, leading to a correct conclusion.

Circular

An advertisement, notification, or policy issued to a large group of people, typically in the form of a letter or email.