1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
faust18 [17]
3 years ago
9

Zack, Gavin and Breana were college friends who decided to go into business together as a party equipment rental service. The th

ree budding entrepreneurs formed as equal owners a Limited Liability Company (LLC) named "Parties R Us." The written operating agreement gave only Zack the authority to manage the business, hire and fire employees, and purchase equipment. Zach contributed to the LLC his knowledge in the party business (his family had owned a similar company), and Gavin and Breana each contributed $100,000 capital. Over the next year, Zack ran the business, but he did not consult with Gavin and Breana, and no meetings were held. When Gavin and Breana asked what was going on with the company, Zack said he was too busy to talk about it. At the end of the first year, despite Zack's best efforts, the LLC's cash was depleted and its liabilities significantly exceeded its assets. To make matters worse, a defective parties r us tent had collapsed Into a wedding group, causing serious injuries. One of the wedding guests, Margaret, sued the LLC and received a $500,000 judgement against them. Because the LLC cannot pay Margaret, is it likely that Zack, Gavin, and Breana will be held personally liable for the judgment?a. yes, because the LLC was the owners' "alter ego."b. yes, because the LLC was undercapitalized.c. no, because the LLC was an entity independent from its owners.d. yes, because they didn't follow LLC formalities, such as holding meetings.
Business
1 answer:
damaskus [11]3 years ago
8 0

Answer:

im not sure what the answer wold be but you woulkd if you actually did your own work but its b

Explanation:

You might be interested in
The most significant conceptual difference between the arbitrage pricing theory (apt) and the capital asset pricing model (capm)
MrRa [10]
<span>is that the capm recognizes only one systematic risk factor.</span>
5 0
3 years ago
Kenneth entered into a contract to sell his home to Valerie, who put down a $5,000 earnest money deposit. At the last minute, Va
densk [106]

An example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.

<h3>What is a liquidated damages?</h3>

A liquidated damages refers to a pre-estimated probable loss that would be suffered from the late completion of a contract.

In conclusion, the example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.

Read more about liquidated damages

<em>brainly.com/question/25697446</em>

8 0
2 years ago
A $1,000 face value bond has a coupon rate of 7 percent, a market price of $989.40, and 10 years left to maturity. Interest is p
dlinn [17]

Answer:

4.95%    

Explanation:

For computing the yield to maturity when expressed in real terms, first we have to find out the yield to maturity by applying the RATE formula that is shown in the attachment

Given that,  

Present value = $989.40

Future value or Face value = $1,000  

PMT = 1,000 × 7% ÷ 2 = $35

NPER = 10 years × 2 = 20 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after solving this,  the yield to maturity is 7.15%    

Now in real terms, it would be

= 7.15% - 2.2%

= 4.95%    

7 0
2 years ago
Number the following activities from 1 to 3 in the order corresponding to the typical flow of cost in a CPA firm.
LUCKY_DIMON [66]

Answer:

1. Record the time worked on a client project by professional staff.

The first thing is do is to record the time the client was worked on by a professional staff because CPAs should be charging by the hour.

2. Record the completion of a client project.

The record the completion of a client project so that the project can be considered finished. The total hours worked will be totalized here.

3. Record the application of office overhead.

After the completion of the project the overhead costs are now apportioned and recorded.

6 0
3 years ago
Verifying a source’s author, publisher, and sponsor is an example of checking the source’s:
svetoff [14.1K]
Authenticity, if it’s been plagiarised then it’s not authentic and has been coppied
3 0
3 years ago
Other questions:
  • Suppose that the raw daily oxygen purities delivered by an air-products supplier have a standard deviation σ ≈ .1 (percent), and
    15·1 answer
  • What is budgeting time for a presentation?
    15·2 answers
  • The High Towers Center is a 300-room hotel that was built ten years ago for a total project cost of $24,000,000. The market valu
    10·1 answer
  • Which of the following are the ways that a company can finance the purchase of assets? (You may select more than one answer. Sin
    5·1 answer
  • The Talbot Corporation makes wheels that it uses in the production of bicycles. Talbot's costs to produce 110,000 wheels annuall
    15·1 answer
  • The Eks-Plore Company exports outdoor gear for firms on the east coast of the United States. The company identifies companies in
    11·1 answer
  • Highly anxious drivers have significantly longer_____ Times as tasks increased in difficulty
    6·1 answer
  • Which of the following financial statements are required for a Debt Service Fund? Multiple Choice Statement of revenues, expendi
    15·1 answer
  • The Western and Pacific Railroad has two divisions, the Western Division and the Pacific Division. The company recently invested
    14·1 answer
  • In the long run, the least important cause of shifts the aggregate supply curve is?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!