Answer: (C) Brian is liable because the court will pierce the corporate veil.
Explanation:
The phrase "PIERCING THE CORPORATE VEIL" is used to describe a situation where a Court decides to hold Corporate Shareholders and/or LLC Owners personally liable for the liabilities of a corporation.
When individuals act in a way that does not separate them from the company (dissolving this 'veil'), the Court looks upon this seriously and treats it in kind. Some instances of this happening are, failure to keep business and personal funds separate and diverting business assets for personal use without proper documentation as Brian seems to have done.
For this reason, the Court will very much likely Pierce the veil.
If you need any clarification do react or comment.
Answer:
A series of activities that transform inputs into products that customers value.
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks, etc.
The core benefit of a product can be defined as the basic (fundamental) wants or needs that is being satisfied, met and taken care of when a customer purchase a product.
Hence, the term that refers to the first level of a product, which depends on the customer value it generates is generally referred to as a core benefit. For example, a hotel provides a comfortable and convenient bed to spend the night (sleep) when you travel for a vacation.
On a related note, a value chain refers to the idea that a company is a series of activities that transform inputs into products that customers value.
Answer:
Bank A/c Dr $63,000
To Notes Payable $63,000
(Being the issuance of the installment note for cash is recorded)
Explanation:
The journal entry is shown below:
Bank A/c Dr $63,000
To Notes Payable $63,000
(Being the issuance of the installment note for cash is recorded)
For recording this transaction, we debited the bank account as it increased the assets account and at the same time it decreased the liabilities so the notes payable is credited
Financial literacy is the set of skills and knowledge needed to make INFORMED DECISION about money matters. The correct option is A.
Financial literacy refers to an education that empowers one with knowledge and understanding about how to manage money in an efficient manner. It enables one to make financial decisions that are based on facts and not emotions. Financial literacy involves acquiring skills in making appropriate financial decisions which can involve any of the following: budgeting, insuring, investing, tax planning, retirement, etc.
Answer:
Operate mine 1 four 4 days and mine 2 during 6 days to obtain minimum cost for the desired output of 850 gold and 18,000 silver
Explanation:
We generate the equation system on excel:
(50g + 3000s) Q_1 --> output generated on Mine 1
(75g + 1,000s) Q_2 --> output generated on Mine 2
12,000 Q1 + 17,000 Q2 = cost of the mines
we do solver to minimize the days of each mine considering a desired output of 18,000 silver and 650 gold:
and get the following:
M1 4 days output: (50g + 3000s) 4 = 200 g 12,000s
M2 6 days output: (75g + 1,000s) 6 = 450g 6,000s
Cost: 12,000 x 4 + 17,000 x 6 = 150,000
