In the First Quarter of the Year (January Through March)

question 37

Short Answer

In the first quarter of the year (January through March), a commission merchant sold several consignments of construction equipment, some used and some new. The sales price was $112,900 for the new equipment and $58,400 for the used equipment. The merchant charges commission rates of 10% to sell new equipment and 15% to sell used equipment. The merchant paid total freight charges of $2,490 to have the equipment delivered to the various buyers. Compute the net proceeds from the sales.

Recall and exemplify Gagné's five categories of learning outcomes.

Define locus of control, distinguish between its types, and understand its influence on training motivation.

Compare and contrast Kolb's experiential learning cycle with Fleming's VARK model of learning preferences.

Differentiate between the learning needs of adults and children, and how these differences can be utilized to enhance learning experiences.

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Definitions:

Contract

An agreement legally recognized and enforceable, made between two or more parties.

Specific Language

Precise and clear language that explicitly states or describes something without ambiguity.

Article 2

A section of the Uniform Commercial Code (UCC) that governs the sale of goods, providing a framework for transactions and specifying obligations of buyers and sellers.

Unenforceable

Describing a contract or agreement that cannot be legally enforced or compelled in a court of law.