Which of the following describes the duty of loyalty?
a. It requires managers to make decisions they reasonably believe to be in the best interest of the corporation.
b. It prohibits making a decision that benefits the decision-maker at the expense of the corporation.
c. It requires consideration of the interests of the surrounding community.
d. It requires using care that an ordinarily prudent person would take in a similar situation.
b
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When using a money market hedge, the hedger will immediately convert the currency borrowed into his or her own currency.
Answer the following statement true (T) or false (F)
McQueen, Inc. grants 200,000 nonqualified stock options to Robert Chalmers, the CEO, on January 1, 2018. The par value of McQueen's common stock is $1. The exercise price on the options is $35 per share, and the options are exercisable in two years.The stock price on January 1, 2018 is $31 per share. This is a fixed option plan. Using the Black-Scholes option pricing model, the value of each option is estimated to be $15.50 at the date of grant. Stock prices are $45, $65, and $50 at December 31, 2018, 2019, and 2020, respectively. Robert exercises his options on April 14, 2021, when the stock price is $57 per share.Required:
Using current GAAP, how much expense will McQueen, Inc. recognize for the year ended December 31, 2019 related to the options?Prepare the journal entries needed on the date of exercise. What will be an ideal response?
In the numerator of the debt service coverage ratio,__________is a good substitute for cash flow from operations before interest and tax payments, especially where changes in these accounts are insignificant
Fill in the blank(s) with correct word
The signature of the person who is enforcing the contract is necessary
Indicate whether the statement is true or false