rishwait2085 rishwait2085

25-10-2022
Business

Answered

tallboy incorporated is a local furniture manufacturer and leley company is a retail furniture store. the two companies have no owners in common. leley recently negotiated to purchase $845,000 of furniture from tallboy. this purchase is an example of a/an:

Answer :

qwdeeppink qwdeeppink

03-11-2022

The furniture purchase of the boy is an example of Arm's length transaction.

"Arm's length" is a term used to describe transactions in which two or more unconnected and unaffiliated parties agree to do business while operating independently and in their own self-interest. In "arm's length" transactions, the parties engaged should have equal negotiating strength and symmetric information, allowing them to agree on fair market conditions.

The "arm's length" principle tries to ensure fair market conditions and correct tax allocation in transactions involving potential conflicts of interest.

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