Frank is an agent for private home owners wishing to locate tenants to lease their homes. Frank's duties include advertising for tenants, processing the paperwork for the lease, collecting the rent payment from the tenants and issuing the proceeds to
the owners, and serving as a conduit for messages. Near the end of his one year contract with home owners John and Becky Ward, Frank tells the tenants that the Wards are going to evict them. In reality, the Wards have no intentions of evicting the Wards. Frank convinces the Wards to move out early, saving themselves the embarrassment of eviction, but forfeiting their security deposit (which Frank conveniently holds in escrow.) What fiduciary duties has Frank violated?
Frank has probably violated all the fiduciary duties (and broken a few laws too!) He has definitely been disloyal and not trustworthy. He did not obey the principles' wishes, and did not use prudent care. In fact, this situation actually happened, and Frank ended up in prison for fraud and theft. He told the Wards that he had refunded the security deposit to the tenants (and had no forwarding address for them, so the Wards could not verify this), but had actually kept the deposit himself. And the house was trashed... a good warning to be careful who you give agency power to!
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In the communication process, the reaction of the receiver after being exposed to a message is called the ________
A) response B) disturbance C) noise D) code E) distortion
Professional buyers often learn to use specific tactics in dealing with salespeople. List three tactics that were identified in Homer Smith's book, Selling Through Negotiation
What will be an ideal response?
In a(n) ________, every available job is advertised throughout the organization via "job posting," and anyone can apply.
A. closed external labor market B. external labor market C. market-based pay system D. open internal labor market
Rosemont Company began operations on January 1, Year 1, and on that date issued stock for $60,000 cash. In addition, Rosemont borrowed $50,000 cash from the local bank. The company provided services to its customers during Year 1 and received $35,000. It purchased land for $70,000. During the year, it paid $10,000 cash for salaries and $9,000 cash for supplies that were used up in its operations. Stockholders were paid cash dividends of $8,000 during the year.Required: a) List the transactions from the information above (for example, issued common stock for $60,000) and indicate in which section of the statement of cash flows each transaction would be reported.b) What would the amount be for net cash flows from operating activities?c) What would be the end-of-year balance for the cash
account? d) What would be the amount of the total assets for the Rosemont Company at the end of Year 1?e) What would be the end-of-year balance for the Retained Earnings account? What will be an ideal response?