The Environmental Protection Agency estimates that 400,000 tons of e-waste are sent to recycling services each year.
Answer the following statement true (T) or false (F)
True
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Seth and Rachel have original investments of $50,000 and $100,000, respectively, in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%; salary allowances of $27,000 and $18,000, respectively; and the remainder divided equally. How much of the net loss of $16,000 is allocated to Seth?
a. $8,000 b. $6,000 c. $4,000 d. $16,000
Arjun ensures that all of the departments and employees under him work together to accomplish strategic and operational objectives. As a manager, Arjun focuses on integration of department activities. Which concept is Arjun utilizing?
a. coordination b. authority c. differentiation d. flexibility
SFX Paintball Games, Inc., and Truck & Trailer Delivery Corporation sign an agreement that provides for the payment of "$1,000 by whichever party commits a material breach of the contract that creates damages difficult to estimate but approximately $1,000." This is
A. a liquidated damages clause. B. a mitigation of damages clause. C. a nominal damages clause. D. a penalty clause.
Accountant's Liability. In 1995, JTD Health Systems, Inc, hired Tammy Heiby as ac-counting coordinator. Apparently overwhelmed by the duties of the position, Heiby failed to make payroll tax payments to the Internal Revenue Service (IRS) in 1995 and
1996. Heiby tried to hide this omission by falsifying journal entries and manually writing three checks out of se-quence, totaling $1.7 million and payable to a bank, from JTD's cash account (to dispose of ex-cess funds that should have been paid in taxes). JTD hired Pricewaterhouse Coopers, LLP, to review JTD's internal accounting procedures and audit its financial statements for 1995. Coop-ers's inexperienced auditor was aware that the cash account had not been balanced in months and knew about the checks but never questioned them. The auditor instead mistakenly ex-plained that the unbalanced account was due to changes in Medicaid/Medicare procedures and recommended no further investigation. In 1996, the IRS asked JTD to remit the unpaid taxes, plus interest and penalties. JTD filed a suit in an Ohio state court against Coopers, alleging common law negligence and breach of contract. Should Coopers be held liable to JTD on these grounds? Why or why not?