Mobile Minutes Company offers Nate an unlimited number of monthly phone minutes for $4.50 per month. Nate ac¬cepts. If a dispute arises, a court would likely
a. enforce the deal after questioning the adequacy of the consideration.
b. not question the adequacy of the consideration.
c. rewrite the deal after questioning the adequacy of the consideration.
d. set aside the deal after questioning the adequacy of the consideration.
B
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Whirlpool took a 53 percent stake in the Dutch electronics group Phillips' home appliances business to leapfrog into the European market. This is an example of a ________
A) straight extension B) joint venture C) contract manufacturing agreement D) licensing agreement E) franchising agreement
________ is a basic restriction governing the transferability of shares in a close corporation.
A. Piercing the veil B. Right of first refusal C. Quo warranto D. Ultra vires
Cyril is currently checking all of his inventory to make sure it meets standards. Cyril is engaged in ______.
a. total quality management b. quality control c. quality assurance d. statistical quality control
Which of the following is a true statement regarding SFAS No. 52?
a. When a foreign entity’s currency is the functional currency, net income is measured in the foreign currency and then restated into dollars at the current exchange rate at the end of the period. b. When a foreign entity’s currency is the functional currency, any exchange adjustment resulting from translating balance sheet and income statement items at different exchange rates is recognized as a gain or loss on the income statement. c. When a foreign entity’s currency is the functional currency, all balance sheet items are translated at the average exchange rate for the period. d. If the results of foreign-currency-denominated operations will not affect U.S. dollar cash flows, no exchange gain or loss is recorded.