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Nady [450]
3 years ago
11

Burt has gone to a commercial bank to negotiate a loan for the LLC in which he is a member. He tells the bank that he is authori

zed to act on behalf of and to bind the company. What is the best way for the bank to verify whether Burt does in fact have the authority he claims?
a. Get him to sign a written statement.
b. Call another member of the LLC for confirmation.
c. Check the articles of organization.
d. Nothing need be done because all LLC members have the right to bind the company, as do general partners.
Business
1 answer:
katrin [286]3 years ago
7 0

c. Check the articles of organization.

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Answer:

Explanation:

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The owner of Grandma's Applesauce is planning to retire after the coming year. She has to repay a loan of $50,000 plus 8 percent
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Answer:

Option (B) $5,000

Explanation:

Data provided in the question:

Repayment of Loan = $50,000

Interest = 8%

Cash flow             Probability

$65,000                    70%

$45,000                    30%

Tax rate = 0%

Now,

Interest on loan = 8% of $50,000

= $4,000

Expected value of cash flow = ∑[cash flow × Probability ]

= ( 0.7 × $65,000 ) + ( 0.3 × $45,000 )

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= $59,000

The owner's expected cash flow after debt service

= Expected value of cash flow - Interest on loan - Repayment of Loan

= $59,000 - $4,000 - $50,000

= $5,000

Hence,

Option (B) $5,000

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3 years ago
The demand for land, labor, and capital used to produce a good depends on which of the following factors?
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3 0
3 years ago
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