If adequate assurance of performance is not given within five (5 ) business days from the time of the demand for assurance, the demanding party may treat the contract as repudiated.?

At the end of the fiscal year, Apha Airlines has an outstanding purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.60 per gallon for delivery during the coming summer. The company prices its inventory at the lower of cost or market. If the market price for jet fuel at the end of the year is $4.25, how would this situation be reflected in the annual financial statements?

a. Record unrealized gains of $350,000 and disclose the existence of the purchase commitment. b. No impact. c. Record unrealized losses of $350,000 and disclose the existence of the purchase commitment. d. Disclose the existence of the purchase commitment.

What are the two purposes of the laws governing American business? Describe how at least two regulatory agencies fulfill these purposes

What will be an ideal response?