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kotegsom [21]
2 years ago
8

Terra Corp. is incorporated in Florida with its principal office in Destin. Phyllis is the president of Terra Corp. and owns 51%

of its shares. A potential buyer approached Phyllis with an offer to purchase her shares. The buyer offered Phyllis an additional bonus if Phyllis would step down from her office as president. Phyllis approached her attorney to determine whether the agreement to sell her shares is valid. The attorney should advise Phyllis that:
Business
1 answer:
sukhopar [10]2 years ago
6 0

Answer: The agreement breaches Phyllis's fiduciary duty of loyalty as an officer of the corporation.

Explanation:

The attorney should advise Phyllis that the agreement breaches Phyllis's fiduciary duty of loyalty as an officer of the corporation.

The duty of loyalty forbids an officer from having his personal interests above that of the corporation. In this situation, accepting a bonus in order to give up the presidency simply means the officer has out his interest above those of the corporation, hence this is a breach of duty.

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3 0
3 years ago
Geno's Body Shop had sales revenues and operating costs in 2020 of $740,000 and $570,000, respectively. In 2021, Geno plans to e
Nataliya [291]

Answer:

$214,000

Explanation:

Total Revenues ($740,000 + $103,000) =$843,000

−Total Operating costs ($570,000 + $59,000)

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Therefore Assuming that there are no changes to the existing body shop business, operating profits would be expected to increase during 2021 by $214,000

7 0
3 years ago
Read 2 more answers
A budget is a system that _____.
never [62]

Answer:

A.

keeps track of money that is earned and spent

Explanation:

B.

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C.

moves money from a checking account to a savings account-

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D.

helps automatically pay bills-

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Therefore, by the process of elimination, the answer is A.

3 0
3 years ago
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hope I help

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2 years ago
Smart employers recognize that innovative ideas are worth the risk agree or disagree
Galina-37 [17]
Answer: Agree

It is true that only those real smart employers will recognize and realize that innovative ideas are worth the risk. At first glance, these innovations may not be easy to accept however, when this will be considered in strategic planning employers realize that even if it's going to be a risk it is going to be worth it.

4 0
3 years ago
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