An exculpatory agreement is one in which:
a. one party promises not to sue another in case of an injury caused by a tort or some other event
b. an employee agrees not to leave and go into competition against the employer or go to work for a competitor for a certain time
c. an employee agrees not to recruit fellow employees for another company when they leave their current place of employment
d. an employee agrees not to use illegal substances e. none of the other choices are correct
a
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What is the function of the judicial branch of the federal government?
A) It has the power to interpret and determine the validity of the law. B) It has the power to enact the law. C) It has the power to enforce the law. D) It has the power to act as a liaison between the legislative and executive branches.
Which of the following is true of a business operating under sole proprietorship?
A. It is not considered a separate legal entity. B. It cannot be sold when the owner decides to do so. C. It requires governmental approval when being transferred. D. It has access to unrestricted capital by means of investments.
On January 2, 20X8, Polaris Company acquired a 100% interest in the capital stock of Ski Company for $3,100,000. Any excess cost over book value is attributable to a patent with a 10-year remaining life. At the date of acquisition, Ski's balance sheet contained the following information: Foreign CurrencyUnits (FCU)Cash 40,000 Receivables (net) 150,000 Inventories (FIFO) 500,000 Plant and Equipment (net) 1,500,000 Total 2,190,000 Accounts Payable 200,000 Capital Stock 600,000 Retained Earnings 1,390,000 Total 2,190,000 Ski's income statement for 20X8 is as follows: Foreign CurrencyUnits (FCU)Revenues from Sales 1,010,000 Cost of Goods Sold (590,000) Gross Margin 420,000 Operating Expenses (exclusive of
depreciation) (120,000) Depreciation Expense (200,000) Income Taxes (40,000) Net Income 60,000 The balance sheet of Ski at December 31, 20X8, is as follows: Foreign CurrencyUnits (FCU)Cash 180,000 Receivables (net) 210,000 Inventories (FIFO) 520,000 Plant and Equipment (net) 1,300,000 Total 2,210,000 Accounts Payable 180,000 Capital Stock 600,000 Retained Earnings 1,430,000 Total 2,210,000 Ski declared and paid a dividend of 20,000 FCU on October 1, 20X8. Spot rates at various dates for 20X8 follow: January 21 FCU=$1.50 October 11 FCU=$1.60 December 311 FCU=$1.70 Weighted Average1 FCU=$1.55 ?Assume Ski's revenues, purchases, operating expenses, depreciation expense, and income taxes were incurred evenly throughout 20X8.Refer to the above information. Assuming the U.S. dollar is the functional currency, what is the balance in Polaris's investment in foreign subsidiary account at December 31, 2008? A. $3,294,500 B. $3,314,500 C. $3,323,400 D. $3,303,400
The existence of a mandatory relationship indicates that the minimum cardinality is 0 or 1 for the mandatory entity
a. True b. False Indicate whether the statement is true or false