It is not possible for one company to influence the operating policies of another company unless it owns more than a 50 percent interest in that company
Indicate whether the statement is true or false
False
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According to the ________ doctrine, formal and informal documents prepared by an attorney in conjunction with a client's case are privileged and may not be revealed by the attorney without the client's permission
A) parley B) parol evidence C) substantial performance D) work product
Norm and Frank have a legal contract that is silent with regard to an assignment of the contract. In order for Norm to assign all or part of his rights under a contract, Frank must grant such permission to Norm
a. True b. False Indicate whether the statement is true or false
A limited liability company can sue or be sued, enter into contracts, and hold title to property.
Answer the following statement true (T) or false (F)
Labowski's Long Boards Inc. makes high-quality skateboards for recreational use. It wholesales its boards in groups of 10 for a package price of $1,500. Many of its customers have asked for credit terms to aid in purchasing the boards
The firm's finance department has estimated the following profile for its long boards and customer base: Annual sales: 10,000 long board packages Annual production costs per board package: $1,000 Lost sales if credit is not provided for customers: 1,200 long board packages Default rate if all customers purchase on credit: 4.00% What is the profit if the firm has a credit policy? What is the change in the profit if the firm moves from a cash-only policy to a credit policy? What is the dollar value of bad debts the firm expects to accumulate over a year? Given the bad-debt dollar amount, what is the maximum average amount per long board package that the firm should spend on credit screening? What will be an ideal response?