Which of the following statements is true of Chapter 11 of the Bankruptcy Reform Act of 1978?
A. If a business is so far gone that it cannot keep operating, it must be liquidated.
B. A firm that files for bankruptcy protection cannot operate while its debts are being repaid.
C. Society should compensate those who have suffered an injury as a result of wrongful action(s) by others.
D. A bankrupt business can be reorganized only when the bankruptcy petition is filed voluntarily.
Answer: A
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The following information is available on TGR Enterprises, a partnership, for the most recent fiscal year: Total partnership capital at beginning of the year$180,000Partnership net income for the year$150,000Withdrawals by partners during the year$120,000Additional investments by partners during the year$60,000There are three partners in TGR Enterprises: Tracey, Gregory and Rodgers. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners.
A. Tracey = $90,000; Gregory = $90,000; Rodgers = $90,000. B. Tracey = $108,000; Gregory = $54,000; Rodgers = $108,000. C. Tracey = $204,000; Gregory = $102,000; Rodgers = $204,000. D. Tracey = $84,000; Gregory = $102,000; Rodgers = $84,000. E. Tracey = $60,000; Gregory = $30,000; Rodgers = $60,000.
Critics of Nike often complain that its shoes cost almost nothing to make, yet are priced so high. Identify the elements of providing and communicating value that add to Nike's cost structure and result in the high price of Nike shoes
What will be an ideal response?
Marissa, the CEO of Carmine Laboratories, appointed Raphael as a marketing manager and gave him express authority to hire other people to help him carry out his duties. Raphael hired Dana as his secretary. Based on these facts, which of the following statements is true?
A. Between Marissa and Raphael, it is Raphael who is ultimately liable for Dana's actions as an employee. B. Dana is solely bound to third parties for her actions as an employee. C. Neither Marissa nor Raphael is bound to a third party by Dana's actions as an employee. D. Only Marissa is bound to a third party by Dana's actions.
In which of the following cases is a company using a diversification growth strategy?
A) IBM is creating a new business laptop with advanced features and is promoting it as a replacement to older models in the same market. B) Microsoft is offering a bargain bundle, consisting of its gaming console, the Xbox 360, and the Kinect motion sensor, at bargain prices. C) Audi is creating a new small car in addition to its other products in order to capture the Asian market. D) Food Specialities Ltd. is including tomato ketchup and sauce in the existing "Maggi" range of processed food items.