1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sineoko [7]
3 years ago
12

Sofia tells her Accountant, Luca, to prepare the financial statements of her business and then send them to Chase Manhattan Bank

. She tells Luca that she wants to get a loan for her struggling business. Luca prepares the statements and emails them to the Bank. Six months later, Sofia's business files for bankruptcy. Chase files suit against Luca because he prepared the financial statements negligently. He made Sofia's business look better than it really was. If Luca was negligent in preparing the statements, under which rule or rules can he be liable to Chase for negligence
Business
1 answer:
Sergeeva-Olga [200]3 years ago
5 0

Answer:

Law of tort

Explanation:

A tort can be basically described as an act or omission, which gives rise to an injury or harm, that could results into a civil wrong that could warrant a liability.

A tort can exist in 3 forms;

1. Negligence

2. Intentional torts, and

3. Strict liability.

The scenario under study here is a clear case of negligence. Here, the bank opined that there is deliberate and deceitful representation of the financial statement. Luca, the accountant, acknowledged that he was negligent in the preparation of this financial statements. The rule that governs this borders on negligence, and thus laws of tort comes handy in addressing this.

You might be interested in
Durban Metal Products, Ltd., of the Republic of South Africa makes specialty metal parts used in applications ranging from the c
gladu [14]

Answer:

<u>Overhead Report for heavy-duty trailer axles.</u>

Order size ($ 16.85 × 200)              $3,370.00

Customer orders ($ 320.00 × 1)        $320.00

Product testing ($ 89.00 × 4)            $356.00

Selling ( $ 1,090.00 × 2)                  $2,180.00

Total                                                 $6,226.00

Conclusion :

The total overhead cost assigned to the order is $6,226.00

Explanation:

ABC system allocates overheads to jobs using cost drivers.

First an Activity Center where costs accumulate is identified these can be several in our scenario we have four Activity Centers.

Then the Cost driver rate is calculated for each Activity Center. Our question has provided these.

The final step is to allocate the overheads to a particular job using the cost driver rate.

7 0
3 years ago
A portfolio with a 30% standard deviation generated a return of 15% last year when T-bills were paying 6.0%. This portfolio had
jarptica [38.1K]

Answer: 0.3

Explanation:

The Sharpe ratio is simply used by organizations and investors in order to compare the return on an investment to its risk.

From the question, we are informed that a portfolio has a 30% standard deviation generated a return of 15% last year when T-bills were paying 6.0%.

The Sharpe ratio will be:

= (15% - 6.0%)/30%

= 9%/30%

= 0.09/0.3

= 0.3

4 0
3 years ago
A golf course is mostly likely to be closed on what day of the week?
nikklg [1K]
Hi!

The day of the week a golf course is mostly likely to be closed on is Monday. =)
8 0
3 years ago
You're responsible for managing your company's social media accounts. your colleague tells you about how a lot of businesses are
Ann [662]
If the pinterest account is helpful in promoting the content of the company and it is reliable for having to give a high reputation of the company that I would put into consideration the offer of my colleague if it meant of having to promote the company's name and reputation.
4 0
3 years ago
15. The Eller Mutual Fund had a Net Asset Value (NAV) per share of $17.50 on January 1, 2019. On December 31, 2019 the fund’s NA
klio [65]

Answer:

The rate of return is 21.26%

Explanation:

Before calculating the return in percentage terms, it would be more appropriate to start with computing the return on the mutual fund in dollars ' terms.

Return in dollars terms;

Net Asset Value on 31 December 2019              $19.47

less

Net Asset Value on 1 January 2019                    ($17.50)

return  on NAV                                                      $1.97

Add:

Income distributions                                             $0.75

Capital gains distributions                                     $1.00

Total return on mutual fund                                   $3.72

Rate of return=total return mutual fund/Opening net asset value

rate of return =$3.72/$17.50

                       =21.26%

7 0
3 years ago
Other questions:
  • The daily demand of an item is 1600 units. The average processing time is 30 seconds per unit. Containers (carrying 240 items) o
    14·1 answer
  • Al Razim, a construction engineer, recently traveled to Germany in order to find investors for his real-estate project. While he
    9·1 answer
  • A stock you own earned: $200, $500, $100, and $700 over the last four years. What was the mean annual gain in value over the fou
    15·2 answers
  • _____ is a direct inducement offering extra incentives anywhere along the marketing route to enhance the movement or accelerate
    15·1 answer
  • Officials argue that the government needs to reduce the national debt. Which actions are most likely to accomplish this goal?
    11·2 answers
  • You are planting seeds in a vegetable garden. According to the instructions on the seed​ packet, the seeds should be placed​ 12"
    8·1 answer
  • What assumption is made with supply-side economics?
    11·2 answers
  • :- How might U.S. pharmaceutical companies and U.S. consumers benefit from the rise of the Indian pharmaceutical industry?
    12·1 answer
  • Q 14.6: Morris Enterprises has 5,000 shares of 5.5%, $100 par value cumulative preferred stock and 100,000 shares of $10 par val
    9·1 answer
  • A company that designs video games has decided to expand and needs to hire Software Developers, Web Administrators, and Computer
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!