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mezya [45]
3 years ago
7

Two general contractor firms, Atlantic Builders and North West Mechanical, form a joint venture for the purposes of completing a

large construction job. They are collaborating on all phases of the project. An Atlantic Builders’ employee operating a crane accidentally drops a steal beam onto a car parked near the construction site. Who is liable for the damage to the car?
a. The joint venture only.

b. The joint venture and Atlantic Builders have joint and several liability.

c. Atlantic Builders only.

d. Atlantic Builders and North West Mechanical are both liable.

Clean Earth, Inc. is a Delaware benefit corporation that produces cleaning products using 100 percent recycled, organic, and sustainably produced materials. Several years ago, it became a socially conscious organization and has fulfilled all of the reporting requirements since then. Clean Earth executives have decided to purchase its paper product supplies (such as napkins and toilet paper) from a new supplier, who plants two trees for every tree it uses. Since this supplier charges five times more than Clean Earth’s previous supplier, profits from Clean Earth’s paper products are expected to be cut in half. If a Clean Earth shareholder challenges the decision as being unfair to shareholders how will a court likely rule?

a. For the shareholder, because the cut in profits will unreasonably reduce shareholders’ returns.
b. For the shareholder, because, although social enterprise managers may consider environmental factors when making decisions, they may not place them above shareholders’ interests.
c. Against the shareholder, because social enterprise managers are required to place the interests of the environment before the interests of stakeholders and shareholders.
d. Against the shareholders, if it finds that Clean Earth has acted in a "responsible and sustainable manner."

Fitness World is a corporation with 75 shareholders that are individuals who all hold common stock. At an annual meeting, the shareholders unanimously voted that Fitness World should register as an S corporation with the IRS so that the shareholders may enjoy the flow-through tax benefits. Is Fitness World eligible to register as an S corp.?

a. Yes, if Fitness World is already a close corporation under state law.
b. Yes, if all of the shareholders are U.S. citizens or residents.
c. No, because Fitness World has more than 50 shareholders.
d. No, if Fitness World is already a close corporation under state law.
Business
1 answer:
gregori [183]3 years ago
7 0

Answer:

(d) Atlantic Builders and North West Mechanical are both liable.

Explanation: Because the incident happened at working site and both companies are on a joint venture, they are both liable to the damage regardless of which company does the employee belong to.

Answer:

(d) Against the shareholders, if it finds that Clean Earth has acted in a "responsible and sustainable manner."

Answer:

(b) Yes, if all of the shareholders are U.S. citizens or residents.

You might be interested in
Managerial accounting is governed by generally accepted accounting principles (gaap). a. true b. false
diamong [38]

This is a False Statement.

Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.

Specifically, management accounting aims to

  • provide Information for internal Organisation managers
  • providing details to governmental regulating bodies
  • Information for shareholders, the accounts payable department, and other parties outside the company
  • information to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.

To Learn more about Management Accounting, Click the links.

brainly.com/question/21597572

brainly.com/question/18414655

#SPJ4

3 0
2 years ago
Pierce Company issued 11% bonds, dated January 1, with a face amount of $800,000 on January 1, 2021. The bonds sold for $739,816
sdas [7]

Answer:

unrealized gain from change in market value = $10,617

Explanation:

Bonds carrying value = $739,816

amortization of bond discount = ($739,816 x 6%) - ($800,000 x 5.5%) = $389

amortization of bond discount = ($740,205 x 6%) - ($800,000 x 5.5%) = $412

bond's carrying value = $740,205 + $412 = $740,617

unrealized gain = carrying value - market value = $740,617 - $730,000 = $10,617

8 0
2 years ago
A bank agrees to lend via simple loan $100 today to Thomas. The agreement is based on that the yearly interest rate is 15%. If T
Ede4ka [16]

Answer:

$404,55 (cumulative) or $250 (american)

Explanation:

This explanation considers a cumulative interest rate in the simplest way. And american amortization system. Consider that there is also French and German systems which works differently depending on the way the loan reimbursed

Cummulative Interest Rate:

Consider this:

If Thomas had to return it in one year he would have to return $115 ($100+15%) which is equal to 100*(1+0.15)

Now, at the begining of the second year, his debt is $115, and at the end its $115+15% = 132,25.  Which is equal 100*(1+0.15)*(1+0.15), this is equivalent to 100*(1+0.15)^{2}

The general formula for cummulative interest is C(1+i)^{n}

Where

C = is the loan amount [in this case: 100]

i = is the interest rate [in this case: 0.15]

n = is the number of periods until [in this case: 10]

American System

The american system is quite straight forward:

Thomas should pay $15 every year for 10 years, and with the last payment he should pay $115.

This is because in this system Thomas returns the capital (the amount of the loan) at the end; and each year he only pays the interest .

$15*10 + $100 = $250

7 0
3 years ago
__________ buy raw materials and parts that they reprocess into the finished goods they sell. Retailers Wholesalers Manufacturer
Luda [366]
Adepression is aperiod of slow economic activity n busineses decrease production
3 0
3 years ago
James Company began the month of October with inventory of $32,000. The following inventory transactions occurred during the mon
Hitman42 [59]

Explanation:

The journal entries are shown below:

On October 12

Purchases ($47,500 x 0.99) $47,025

            To Account Payable  $47,025

(Being the purchase of merchandise is recorded)  

On October 12

Freight In $670  

         To Cash  $670

(Being the freight charges is recorded)  

On October 31

Account Payable $47,025  

              To Interest Expense $475

              To Cash  $47,500

(Being the payment for purchases is recorded)  

Account Receivable $31,400  

            to Sales Revenue  $31,400

(To record the sales on account)

On October 31  

Cost of Goods Sold $20,550  

Ending Inventory  $59,145

          To Beginning Inventory   $32,000

          To Purchases  $47,025

           To Freight In  $670

(Being recording the adjusting entry is made)

6 0
3 years ago
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