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iogann1982 [59]
2 years ago
6

Emmett, an agent for Fridley, signs an agreement with Grover on Fridley's behalf but neglects to tell Fridley that the agreement

requires the payment of a certain tax. The government prosecutes Fridley for failing to pay the tax. Fridley is:_________.
a. liable, because notice to Emmett is notice to Fridley.
b. liable, because notice to Glover is notice to Fridley.
c. not liable, because Emmett did not notify Fridley of the tax.
d. not liable, because Glover did not tell Fridley about the tax.
Business
2 answers:
Mariulka [41]2 years ago
6 0

Answer:

Option A. Liable, because notice to Emmett is notice to Fridley.

Explanation:

The reason is that the principle is liable for the outcome of the Emmett actions in the principle's behalf. So it is clear that Fridley is liable. The agent have to work in the best interest of its principal which means that the failure to notify the additional tax liability to Fridley was part of agent's fiduciary duty. This means that the principle can sue its agent for the consequences of not placing the sufficient care to its principle.

The Fridley is also responsible because Emmett is acting as Fridley which means the notice to Emmett is actually notice to Fridley.

fomenos2 years ago
4 0

Answer:

A) liable, because notice to Emmett is notice to Fridley.

Explanation:

A principal is directly responsible for all the contracts and agreements carried out by his/her agent on his/her name. Sometimes even if no express authority exists, implied authority is sufficient for a principal to be liable for the agent's actions.

So Fridley is liable for not paying taxes, but at the same time Emmet is liable to Fridley for not telling him about the taxes that should have been paid. An agent is responsible to the principal for the actions that he/she makes on the principal's behalf.

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Answer:

C. The country will have a smaller marginal return from bricks.

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3 years ago
What are some of the troubles that could occur in the economy if inflation rate got as high as 8% or 10% per year?
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Answer:

Some of the troubles that could occur in the economy if inflation rate get as high as 8% or 10% per year are:

1) Foreign investors will avoid the country.

2) Money losses value very fast causing an increase in the prices of goods and services.

3) The economy becomes unstable making the the government leaders to loose credibility.

Explanation:

The type of inflation that gets as high as 8% or 10% is called Galloping inflation.

Some of the troubles that could occur in the economy if inflation rate get as high as 8% or 10% per year are:

1) Foreign investors will avoid the country.

2) Money losses value very fast causing an increase in the prices of goods and services.

3) The economy becomes unstable making the the government leaders to loose credibility.

4 0
3 years ago
During its 1st month of business, Noodlecake's cash increased by receiving $5,000 from issuing common stock to its owners, borro
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Answer:

Noodlecake

On its statement of cash flows, Cash Provided by Operating Activities equals $__1,000____ Cash from Investing Activities equals $__(3,000)______ Cash from Financing Activities equals $_7,000______  and the Change in Cash equals $_5,000______ Be sure to use parentheses around the amount if it is a cash outflow, e.g. $(1,000)

Explanation:

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3 0
3 years ago
Gray argues that national cultural values affect accounting values. If Country X ranks low on uncertainty avoidance, which of th
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Answer:

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Counties with high uncertainty avoidance are more conservative for example Japan.

While countries that have low uncertainty avoidance are less conservative. They are flexible to change and more willing to take risks.

7 0
3 years ago
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