A limited liability company is a citizen of every state in which it does business.
Answer the following statement true (T) or false (F)
False
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The Automotive Department of K-Seers Corp shows net sales of $1,320,500 for tires and $759,800 for other goods. It has been determined that the tires cost $834,000 and the other goods cost $372,100 . What is the gross profit for the Automotive Department?
a. $2,080,300; b. $874,200; c. $387,700; d. $1,206,100; e. $486,500
When the parties do not agree on the duration of the agency and the agent has incurred substantial expenses in completing the agency, a court will likely hold that:
A. the principal cannot terminate the agency until after the agent has had a reasonable time to try to earn the expected commission. B. only the principal can terminate the agency and the courts cannot hold the agent liable for any expenses incurred by the agent during the agency period. C. the principal will be required to indemnify the agent if some fault of the agent causes a loss. D. the agency relationship must be terminated immediately to avoid unjust enrichment.
Orlando opened a hot dog stand in Brooklyn which unfortunately did not earn him a profit. He had borrowed $5,000 from the bank to set it up, which had to be repaid to the bank in two days
However, Orlando's friend Bob agreed to partner with him starting the subsequent month. From which of the following sources can the bank recover its $5,000 with interest? A) Orlando's secondary financer B) Orlando's savings account C) Orlando's family D) Bob, Orlando's prospective business partner
The difference between AON and AOA networks is that:
A) AOA networks sometimes require dummy activities. B) nodes consume no resources or time in AOA networks. C) both are acceptable in practice; however, Microsoft Project uses AON. D) nodes designate activities in AON, while arrows designate activities in AOA. E) All of the above are true.