Which of the following is an open question?
a. How do you feel about running?
b. Do you like running?
c. How many miles do you run a week?
d. What year did you start running?
a. How do you feel about running?
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Krackle Korn Inc. had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 35 days. What was its average receivables balance, based on a 365-day year?
A. $335,616 B. $352,397 C. $370,017 D. $388,518 E. $407,944
Fiduciary Duty of Directors. In 1978, David Brandt and Dean Somerville incorporated Posilock Puller, Inc (PPI), to make and market bearing pullers. Each received half of the stock. Initially operating out of McHenry, North Dakota, PPI moved to
Cooperstown, North Dakota, in 1984 into a building owned by Somerville. After the move, Brandt's participation in PPI diminished, and Somerville's increased. In 1998, Somerville formed PL MFG as his own business to make components for the bearing pullers and sell the parts to PPI. The start-up costs included a $450,000 loan from Sheyenne Valley Electric Cooperative. PPI executed the loan documents and indorsed the check. The proceeds were deposited into an account for PL MFG, which did not sign a promissory note payable to PPI until 2000. When Brandt learned of PL MFG and the loan, he filed a suit in a North Dakota state court against Somerville, alleging in part a breach of fiduciary duty. What fiduciary duty does a director owe to his or her corporation? What does this duty require? Should the court hold Somerville liable? Why or why not?
The most accurate way to apply statistical quality control is to use a
A. stratified sample. B. quota sample. C. specific sample. D. random sample.
For the following taxpayers, please recommend the most advantageous trial - level court(s) to litigate a tax issue with the IRS.a. Joe is litigating a tax issue with the IRS that is considered a question of fact (i.e., the answers depend on the facts of the case). There is not a lot of authority on point for this case, but Joe has a very appealing story to justify his position that is likely to be viewed sympathetically by his peers.b. The Circuit Court of Appeals for the Federal Circuit recently issued an opinion that is very favorable to the issue that Jesse plans to litigate with the IRS.c. The Circuit Court of Appeals for the Federal Circuit recently issued an opinion that is not favorable to the issue that Hank plans to litigate with the IRS.d. The 7th Circuit (where Elizabeth
resides) recently issued an opinion that is very favorable to the issue that Elizabeth plans to litigate with the IRS. What will be an ideal response?