MegaCorp is incorporated in the state of Delaware and is registered only in Delaware. Jolene purchased a MegaCorp product from a company's sales representative following a presentation in Michigan. Jolene was seriously injured by the product in Michigan. Under the Model Act, if Jolene sues in Michigan, can MegaCorp defend the suit there?
a. MegaCorp may only defend against a lawsuit in Michigan if it first registers by paying back fees, taxes, and penalties.
b. Yes, MegaCorp can bring or defend against a lawsuit in any state regardless of whether the corporation is registered to business in that state.
c. Yes, MegaCorp can defend against a lawsuit in Michigan regardless of whether MegaCorp is registered to do business in that state.
d. No. Jolene must sue and MegaCorp may defend a lawsuit only in Delaware.
c
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Dividends that are paid to owners would affect both the
A) balance sheet and statement of cash flows. B) balance sheet and income statement. C) income statement and statement of changes in equity. D) income statement and statement of cash flows.
Channel conflict often results when a manufacturer opens a new distribution channel, especially if it directly competes with its existing intermediaries.
Answer the following statement true (T) or false (F)
On January 1, 2017, Smeder Company, an 80% owned subsidiary of Collins, Inc., transferred equipment with a 10-year life (six of which remain with no salvage value) to Collins in exchange for $84,000 cash. At the date of transfer, Smeder's records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. Smeder reported net income of $28,000 and $32,000 for 2017 and 2018, respectively. All net income effects of the intra-entity transfer are attributed to the seller for consolidation purposes.What is the net effect on net income as a result of consolidating adjustments made in 2017 with respect to the equipment transfer?
A. Decrease net income by $12,000. B. Increase net income by $2,000. C. Decrease net income by $14,000. D. Increase net income by $10,000. E. Decrease net income by $10,000.
"How would I view the issue if I stood on the other side of the fence?" is one question in the process to analyze an ethical dilemma developed by: A) Milton Friedman
B) Laura Nash. C) Norman Vincent Peale. D) Kenneth Blanchard.