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Dmitry_Shevchenko [17]
3 years ago
9

Promoters of an LLC are Select one: a. are never personally liable on pre-formation debt. b. always liable on pre-formation debt

. c. only liable on pre-formation debt until a novation occurs.
Business
1 answer:
Bad White [126]3 years ago
5 0

Answer:

The answer is C. only liable on pre-formation debt until a novation occurs.

Explanation:

The corporation and the third-party agree to release the promoter from liability and to substitute the corporation in place of the promoter as the party liable on the contract. May be express or implied.

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7 0
2 years ago
"Moccasin Company manufactures cotton shirts. 12,000 shirts are produced during the first week of July. The unit quantity standa
steposvetlana [31]

Answer:

<em>The answer is 72,000 Meters.</em>

Explanation:

From the question given, let us recall:

Moccasin Company produces cotton shirts.  =12,000

The unit quantity standard = 6 meters

The  quantity used actually was   = 0.50 meters per shirt

The next step is to determine  the quantity of cloth that should be used for the actual output of 12,000 shirts.

Quantity of cloth that should be used

= 12,000 * 6 meters cloth per shirt

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5 0
3 years ago
A company issued a short-term note payable to a bank with a stated 12 percent rate of interest . The bank charged a .5% loan ori
Mandarinka [93]

Answer:

17%

Explanation:

If a company issued a short-term note payable to a bank with a stated 12 percent rate of interest and in addition the bank charged a .5% loan origination fee and remitted the balance to the company. The effective interest rate paid by the company in this transaction would be 17%

The effective annual interest rate is <u>the interest rate that is actually earned or paid on an investment, loan</u> or other financial product.

Hence, since the company is both paying the initial 5% and the later 12%, effectively the company is paying 17% on the note payable.

8 0
3 years ago
Read 2 more answers
Sam, alfredo, and juan want to start a small u.S. Business. Juan will fund the venture but wants to limit his liability to his i
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However, he is entitled to a dividend by virtue of his investment. The nature of this dividend is defined and the terms are spelled out clearly in the partnership agreement.

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3 years ago
If an employeeâs manager issued an explicit or strongly implied threat that submission to sexual demands is a condition of the e
Mrac [35]

If an employee manager issued an explicit or strongly implied threat that submission to sexual demands is a condition of the employee's job, it would be an example of quid pro quo" harassment.

Protect individuals from discrimination based on characteristics such as race, nationality, religion, and gender. These rights are guaranteed to all citizens under the due process and equal protection clauses of the United States Constitution and the laws of Congress.

The Civil Rights Act of 1964 outlawed discrimination in employment based on race, color, national origin, religion, or sex, and the Equal Employee's Opportunity Commission was appointed to investigate discrimination and enforce the bill's provisions. established a meeting.

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