Frank Zelco is a manufacturer's rep who represents the product lines of several manufacturers. Frank has worked with his brother, Dion, in their two person firm for almost five years. They have no written contract, but they split the profits. Frank
would like to create a business organization and put their arrangement in a written contract. Which sources of law will Frank need to help him do this?
A) Ordinances
B) The UCC
C) State laws on business organizations
D) Both b and c
Answer: C
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Indicate whether the statement is true or false
Which of the following describes a “black swan”?
A. highly likely and consequential event B. highly unlikely but consequential event C. highly unlikely and inconsequential event D. something difficult to explain in retrospect
Mystic Falls Inc Mystic Falls Inc bottles and sells a popular soft drink. In 2011, the company had expected to sell 1,000,000 bottles but actually bottled and sold 900,000 bottles. The standard direct materials cost for each bottle is $.40 comprised of 10 ounces at a cost of $.04 per ounce. During 2011, 10,000,000 ounces of material were purchased out of which 9,200,000 ounces were used at a cost
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