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Nesterboy [21]
3 years ago
14

Ratification occurs when the principal accepts responsibility for the agent's acts. For ratification to be valid, the agent must

have acted on behalf of an principal, that principal must know all of the material , must the agent's act in its entirety, and must have the legal to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party from the transaction, and the principal must the same formalities when ratifying the act as would have been required to authorize it initially.
Business
1 answer:
Zinaida [17]3 years ago
5 0

Answer:

The answers are : unauthorized, identified, facts, affirm, authorization, withdraws, observe.

Explanation:

Ratification occurs when the principal accepts responsibility for the agent's unauthorized acts. For ratification to be valid, the agent must have acted on behalf of an identified principal, that principal must know all of the material facts , must affirm the agent's act in its entirety, and must have the legal authorization to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party withdraws from the transaction, and the principal must observe the same formalities when ratifying the act as would have been required to authorize it initially.

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A company purchased an asset for $3,600,000 that will be used in a 3-year project. The asset is in the 3-year MACRS class. The d
suter [353]

Answer:

$266,760

Explanation:

According to the problem, calculation of the given data are as follows,

Purchase value =  $3,600,000

Depreciation for 1st year = 33.33%

Depreciation for 2nd year = 44.85%

Depreciation for 3rd year = 14.81%

So,  Book value = Purchase value × ( 1 - depreciation of all years)

By putting the value we get,

Book Value = $3,600,000 × ( 1 - 33.33% - 44.45% - 14.81% )

= $266,760

6 0
3 years ago
In a statement of cash flows, interest payments to lenders and other creditors should be classified as cash outflows for a. oper
Sonbull [250]

Answer:

The correct answer is letter "A": operating activities.

Explanation:

Operating Activities are the daily processes conducted by a company to generate income. They pertain to the company's core business activity such as sales and manufacturing and they provide most of the cash flow that determines whether a business is profitable.

When it comes to the Financial Statements the situation is not different. Interest payments to lenders and other creditors can be part of the day to day activity of a company. That is the reason why they are recorded in the operating activities section.

3 0
4 years ago
While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only______ of
goblinko [34]

Answer:

(i) 5

(ii) Option (A) is correct.

(iii) Open market operations; sell

Explanation:

(A) The Federal Open Market Committee consists:  

(i) 7 members of the Board of Governors  

(ii) 5 of the 12 regional bank presidents

Therefore, only 5 of the regional bank presidents are the members of FOMC.

(B) The fed is lender of last resort to the banks in the united states which don't have any other source of borrowing.

(C) Open market operations refers to the buying and selling of government securities to the public. The central bank of a particular nation uses open market operations as a monetary policy instrument for controlling money supply.

If the fed wants to decrease the money supply in the economy, then it must sell the government bonds to the public. Hence, there is a reduction in the money supply.

5 0
3 years ago
The purpose of the post-closing trial balance is ____________
ziro4ka [17]

Answer:

b. to verify that the ledger is in balance at the beginning of the next period.

Explanation:

A post-closing trial balance is a listing of all balance sheet accounts containing non-zero balances at the end of a reporting period. The post-closing trial balance is used to verify that the total of all debit balances equals the total of all credit balances, which should net to zero.

3 0
3 years ago
What is motivation?
Triss [41]

Answer:

C.

Explanation:

What is motivation very short answer?

Motivation is the process that initiates, guides, and maintains goal-oriented behaviors. It is what causes you to act, whether it is getting a glass of water to reduce thirst or reading a book to gain knowledge. Motivation involves the biological, emotional, social, and cognitive forces that activate behavior.

8 0
2 years ago
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