After it is incorporated, a corporation cannot disapprove of the contracts made by the promoter
Indicate whether the statement is true or false
False
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Location is the single most valuable economic indicator of potential for industrial products
Indicate whether the statement is true or false
Which one of the following statements is TRUE?
A. It is harder for dissidents to gain board seats if a company's board is classified. B. A classified board is one in which an announcement requesting applications for board members appears in the newspaper. C. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each year. D. Inside directors are more concerned with shareholders' interests since they are more closely concerned with firm operations. E. Management is said to be entrenched when the senior managers are consuming excessive perquisites.
Al owns a farm that he believes is worth $150,000 . Betty knows that there is oil under the farm and offers Al $160,000 for it. Al accepts and sells the farm to Betty. Al later realizes that the land was worth more than $160,000 . Al can have the contract avoided based upon fraud
a. True b. False Indicate whether the statement is true or false
On June 1, Edison, Inc. borrowed $24,000 on a one-year Note Payable with an interest rate of 10% per year. It will repay the principal and interest at the end of the one-year period. The company makes accrual adjustments at the end of each month
The company should record interest expense of $2,400 on June 30. Indicate whether the statement is true or false