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Zielflug [23.3K]
3 years ago
8

Elliot is suing Acme, Inc., for a breach of contract, but because Acme has very little in assets, he asks the court to pierce th

e corporate veil and hold the officers personally liable. In which of the following situations would the court likely approve Elliot’s request?
a. The corporation was under-capitalized from the beginning, and never had sufficient assets to operate as a viable business.
b. The officers make their decisions based on information presented to them, but unknown to them is the fact the information is incorrect.
c. The officers loaned money to the corporation in an attempt to delay any adverse actions.
d. The corporation has struggled to make a profit from the beginning.
Business
1 answer:
Sergeu [11.5K]3 years ago
7 0

Answer: The court would likely approve Elliot's request in the following situation: <u><em>The corporation was under-capitalized from the beginning, and never had sufficient assets to operate as a viable business.</em></u>

Under the given scenario i.e. for a breach of contract , the condition will apply if the corporation i.e. Acme Inc. was under-capitalized from the start, and they never had predominating assets to work as a viable organization.

<u><em>Therefore the correct option is (a)</em></u>

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As per the given scenario, the interpersonal skill that should be used is negotiating effectively.

<h3>Who is a project manager?</h3>

A project manager refers to the person who is in overall charge of the planning and execution of a particular project.

As a project manager, the project is on number one priority. The interpersonal skill that is mainly used in this scenario is negotiating effectively.

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4 0
2 years ago
Phil purchased a car today at a price of $8,500. He paid $300 down in cash and financed the balance for 36 months at 5.75 percen
Yanka [14]

Answer:

\large\boxed{\large\boxed{\$ 248.53}}

Explanation:

The equation to calculate the <em>monthly payment</em> for fixed-rate loans is:

     Monthly\text{ }payment=Loan\times \bigg[\dfrac{r(1+r)^t}{(1+r)^t-1}\bigg]

Where:

  • Loan = $8500 - $300 = 8,200
  • r is the monthly interest = 5.75% / 12 = 0.0575/12 ≈ 0.00479
  • t is the number of moths = 36

Substituting:

Monthly\text{ }payment=\$8,200\times \bigg[\dfrac{(0.0575/12)(1+(0.0575/12))^{36}}{(1+(0.0575/12))^{36}-1}\bigg]=\$ 248.53

6 0
3 years ago
On August 1, Steffen Computers, Inc. purchased thirty computer chips on account from a company located in Taiwan for 520,000 Tai
Vsevolod [243]

Answer:

(C) debit to Foreign-Currency Transaction Loss-$1040

Explanation:

Foreign currency related Financial assets and financial liabilities are usually revalued with any difference as a result of the exchange rates posted as a gain or loss in the income statement.

On transaction date, cost of assets

= 520000 * $0.034

On payment date, the amount paid

= 520000 * $0.036

The amount paid is higher than the liability recorded before hence the difference is recognized as a loss on foreign exchange.

= 520000 * $0.036 - 520000 * $0.034

= $1040

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3 years ago
Statement Of Owner's Equity Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity using the following
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Answer:

$2,433

Explanation:

Net Income = Sales - Expenses

where,

Sales = $3,033

and

Expenses = $600

therefore,

Net Income = $3,033 - $600 = $2,433

3 0
2 years ago
How many companies does donald trump own?
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I can't give you an exact number but he has companies in hotels, casinos, real estate, golf courses,<span>Controversy Hitting Brand Power, CNN says he has 144 in total businesses</span>
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