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saul85 [17]
4 years ago
9

Haskins is an officer of a real estate development firm. Haskins purchased a piece of property in a rural area of Arizona with t

he idea of building resort homes there. The firm has always had board resolutions for purchases of property (as is common practice) but there was no resolution for this property purchase. The other officers in the firm have learned of the value of the property and are concerned that the firm may not own the property. Which of the following statements is true?
a. The firm can ratify Haskin's actions and take over the contract.
b. The firm cannot ratify the contract unless Haskins had express authority to buy land.
c. If the firm ratifies the contract, the effect is that Haskins is released from liability on it.
d. none of the above
Business
1 answer:
oksano4ka [1.4K]4 years ago
3 0

Answer:

A) The firm can ratify Haskin's actions and take over the contract.

Explanation:

Hanskin's was not explicitely allowed to buy the property in Arizona, but he did it with the intention of increasing the amount of assets that the real estate company holds.

The board of directors should simply take over the contract as long as it is profitable (it most likely is), and analyze whether to change its policies about property purchasing or not, because requiring a board resolution for each one of them can make the process slow and increase opportunity costs.

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Flint Corporation is subject to a corporate income tax only in State X. The starting point in computing X taxable income is Fede
scZoUnD [109]

Answer:

b. $790,000.

Explanation:

The computation of the taxable income for X purpose is shown below:

Federal Taxable income $750,000  

Add: Deduction for state income taxes non-deductible $50,000  

Less: Interest on federal obligations i.e. deductible $10,000  

Taxable income $790,000  

Hence, option b is correct

7 0
3 years ago
Records are anything: papers, memos, presentations, reports, books, maps, e-mails, computer-readable material, photographs, or o
alexandr1967 [171]

Answer:

Contain information developed in preparing briefing papers, reports and studies

Explanation:

In simple words, records can be defined as the documents that keep information that is developed and scripted over time. The information can be originated through experiences, actions or research etc.

Records depict past information which is considered to be important and might be used in future for some reference. Thus, from the above we can conclude that the correct option is 1.

7 0
3 years ago
"the table above shows the payoff matrix offered to two suspected criminals, bonnie and clyde. the payoffs are the years they wi
Semmy [17]
They both will confess to the other's crimes.

They both could get lighter sentences for co-operating with each other, but since they are not allowed to communicate with each other, and hence will have only their best interests in mind, to betray the other for his own good. However, when they both do this, it becomes a double betrayal, and hence their sentences become even longer.
6 0
4 years ago
__________ are a type of limited-function wholesaler that owns products they sell, but do not actually handle, stock, or deliver
bagirrra123 [75]

Answer:

Option C (Drop-shippers) is the correct choice.

Explanation:

  • Drop shipping would be a technique of retail fulfillment where a store does not maintain the items in stock that it advertises or sell. Instead, whenever a store offering its products that used the drop shipping framework, it buys goods from either a third party and it may have delivered the product straightforwardly.
  • The products are owned by Drop shippers but they have never handled or executed them.

Some other alternatives given weren’t linked to the scenario in question. So, the alternative above is the right one.

6 0
3 years ago
ABC Inc. hires you as its Ethics Officer, and the CEO of ABC Inc wants you to help ABC Inc become ESG compliant. She asks you to
ASHA 777 [7]

Answer:

The definition of the problem is listed throughout the section below on explanations.

Explanation:

ABC Inc employs ABC Inc as an internal auditor as well as CEO into becoming compliant with ESG. She requests you should consider 2 recommendations each for ABC Inc's ESG research on Climate, Economic, and Governance. Why your advice will ensure ABC Inc operates differently against Enron.

<u>Environment:</u>

  • Through its operational activities, ABC should incorporate renewable energy. Solar panels could be used for generating power in organizations where appropriate.
  • ABC will devote 5% of all its sales to research for environmentally friendly energy resources to significantly reduce its reliance on coal.

<u>Social:</u>

  • ABC could perhaps recognize the perspective including its investors and therefore should share the required info.
  • When the CEO is unaware of the corporation's misconduct as well as some informant points something out to herself, therefore that individual or organization must be tended to or respected.

<u>Governance:</u>

  • ABC ought to be more open concerning its activities. If it's the founder or the worker. Stockholders ought to learn what the internal operations of their business are.
  • Boards must be supervised closely and they should include separate, representative members. Their pay should not have been so strong that incongruity is prevented in conferences.

<u>As contrasted with Enron's. Enron did not follow up on such above compliance issues.</u>

  • We were vague when it came to disclosing their liabilities off the income statement. Shareholders were unfamiliar with the firm's operations.
  • Whistle-blower or anybody who referred out such a program flaw was embarrassed and disciplined.

ABC Inc may obey these guidelines above to have been consistent with ESG.

4 0
3 years ago
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