The Revised Act permits the board of directors to adopt certain amendments without shareholder action, unless the articles of incorporation provide otherwise. These amendments would include:
a. extending the duration of a corporation if it was incorporated when limited duration was required by law.
b. changing each issued and unissued authorized share of an outstanding class into a greater number of whole shares if the corporation has only one class of shares.
c. making minor name changes.
d. All of these.
d
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Modern Designs is a new business. During its first year of operations, credit sales were $43,000 and collections of credit sales were $34,000. One account, $625, was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. Bad debts expense for the first year of operations is ________.
A) $665 B) $1290 C) $625 D) $2310
______ was passed to give employees 60 days’ advance notice in cases of plant closings or large-scale layoffs.
A. Worker Adjustment and Retraining Notification Act of 1988 (WARN) B. National Labor Relations Act of 1935 (NLRA—Wagner Act) C. Labor Management Relations Act of 1947 (LMRA—Taft-Hartley Act) D. Labor Management Reporting Disclosure Act of 1959 (LMRDA—Landrum-Griffin Act)
What are the main benefits (to the franchisee) of franchising?
What will be an ideal response?
Which of the following is not included in cash and cash equivalents on a company's balance sheet?
A) A savings account at the bank B) A checking account at the bank C) A bank certificate of deposit for one year D) Petty cash