All categories

3 years ago

When does a corporation become a party to contracts made by the person forming a corporation?

Business

1 answer:

saul85 [17]3 years ago

7 0

Answer:

They become part of a contract when the agents, personnel, and officers bind the contract of the cooperation by law.

Explanation:

the law that binds the contract is called agency law or cooperate law.

You might be interested in

Selected financial information for Feemster Company for 2012 follows. Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise

olganol [36]

Answer:

The merchandise inventory turnover during 2012 is 8 times.

Explanation:

The following information is given:

Sales - $ 2,000,000

Cost of goods sold - $1,400,000

Merchandise inventory Beginning of year - $ 155,000

Merchandise inventory End of year - $ 195,000

After considering these information, it is easy to calculate the merchandise inventory turnover. The formula is shown below:

Merchandise Inventory Turnover = COGS ÷ Average inventory

where average inventory = (opening inventory + ending inventory) ÷ 2

So,

Average inventory = ( $ 155,000 + $ 195,000) ÷ 2

= $175,000

Now, we can compute easily

Merchandise Inventory Turnover = 1,400,000 ÷ $175,000

= 8 times

Thus, the merchandise inventory turnover during 2012 is 8 times.

3 0

3 years ago

The agreement of the trial balance totals is an indication that all transactions have been properly recorded in the books of acc

Zina [86]

Answer:

Explanation:

The trial balance shows the totals of all transactions that have been recorded. It has no way of knowing if there are additional transactions that have not been recorded.

3 0

3 years ago

Brynn's Bakery runs an advertisement touting the importance of diet and exercise. It also mentions how Brynn's is a valuable mem

Burka [1]

Answer:

institutional

Explanation:

Institutional advertising refers to advertising that shows the benefits and ideals or an organization. It does not focus on any particular product or service, instead its main goal is to build a positive image of the organization within the community. Many times institutional advertising is done when the organization has suffered from a serious of events that have damaged its reputation and it needs to improve it.

8 0

3 years ago

Delayed product delivery is less of an issue when compared to delivering a faulty product, which can potentially cause harm. Thi

iogann1982 [59]

Answer:

A) high magnitude of consequences.

Explanation:

Delayed product delivery is less of an issue when compared to delivering a faulty product, which can potentially cause harm. This is because delivering a faulty product has a high magnitude of consequences.

The customer is the king in the market, the company can not afford to lose reputation by a delivery faulty product. Especially in the era of social media, these mistakes can cause loss of market share and can potentially damage the credibility of the company´s product, which could take lot of time to rebuild. It may also affect other product of the company to lose reputation.

3 0

3 years ago

Creative Sound Systems sold investments, land, and its own common stock for $31.0 million, $15.1 million, and $40.2 million, res

KatRina [158]

Answer:

Creative Sound Systems

Net cash flows from investing activities:

Cash inflow from sale of investments $31 million

Cash inflow from sale of land $15.1 million

Cash outflow from purchase of equipment ($25.1 million)

<u>Cash outflow from purchase of patent ($12.1 million)</u>

Net cash flows provided by investing activities $8.9 million

Creative Sound Systems

Net cash flows from financing activities:

Cash inflow from issuing common stocks $40.2 million

<u>Cash outflow from purchase treasury stock ($21.1 million)</u>

Net cash flows provided by financing activities $19.1 million

6 0

3 years ago