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1 year ago

Even after commencement of business operations, officers and directors have a responsibility to comply with _______.

1 answer:

3 0

Even after the commencement of business operations, officers and directors have a responsibility to comply with corporate formalities.

<h3>What are the duties of corporate directors and officers?</h3>

In general, the officers are in charge of carrying out the board's policies and making day-to-day choices, while the board of directors is in charge of important business and policy decisions.

announcing and disbursing corporation dividends.
approving significant corporate choices.
hiring, promoting, managing, and firing managerial and corporate leaders.
choosing between issuing bonds or stock.

A corporation's owners are its shareholders, usually referred to as stockholders, who acquire an interest in the company by acquiring shares of stock. A board of directors is chosen by shareholders, and they are in charge of running the business.

Officers and directors are still required to follow corporate formalities even after the start of business operations.

To learn more about the duties of corporate directors and officers refer to:

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In California, Arthur wants to personally place business with RTS Insurance Company who is a nonadmitted carrier. The only way A

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Answer

Professional ethics and code of conduct regulation

Explanation:

California Professional code of conduct for insurance agent does not permit unethical placement, as the regulator view such as fraudulent practices.

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3 years ago

The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $52.00 First

ycow [4]

Answer:

$986.39

Explanation:

Given :

Value of items in inventory :

(7 * $52) + (19 * $53) + (25 * $28) + (18 * $65) = $3241

Number of items in inventory :

(7 + 19 + 25 + 18) = 69 units

Weighted average inventory cost :

$3241 / 69 = $46.971014

Number of commodity in hand at year end = 21 units

Amount of inventory at year end using average costing method :

Number of commodity * Average inventory cost

(21 * $46.971014) = $986.39

The amount of inventory at the end of the year according to the average costing method is $986.39

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3 years ago

If a society wants to get the most out of the available resources, money should be spent on pollution control (A) until pollut

Ksju [112]

Answer: Option C

Explanation: The maximum amount of money that a consumer is willing to pay for having an additional unit of a good or service is called the marginal benefit. Whereas, marginal cost refers to the increase in total cost when one more unit of output is produced.

In the given case, we want to use the available resources at their best, therefore, the money on pollution control should be spent only until the benefit of spending one more dollar is greater than the cost of doing so.

Hence, the correct option is C.

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3 years ago

Indigo Corporation significantly reduced its requirements for credit sales. As a result, sales during the current year increased

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Answer:

(a) $200,100

(b) $200,100

Explanation:

The movement in the accounts receivable balance at the start and end of an accounting period is due to cash payments, additional credit sales, and any amount written off during the period.

This may be expressed mathematically as

opening balance + sales - cash collected - amount written off = closing balance

$35,100 + $361,800 - cash collected = $196,800

Cash collected = $35,100 + $361,800 - $196,800

= $200,100

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3 years ago

Edward is a partner in ENS, Ltd. The partnership generated a loss during the current year. Edward's share of the loss was $7,000

antiseptic1488 [7]

Answer:

Edward can deduct his $7,000 loss from his adjusted gross income (AGI). Partnerships are investments that you make regardless of whether you work for them or not. One of the key characteristics of partnerships is that they are not taxed as separate entities, they pass-through their income or losses to the partners.

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3 years ago