Corbin, a partner in Doctors Medical Clinic, applies for a loan with Evermore Bank allegedly on Doctors' behalf but without the authorization of the other partners. Evermore knows that Corbin is not authorized to take out the loan. Corbin defaults on the loan. Liability for its unpaid amount is imposed on
A. Corbin and Doctors, jointly.
B. Corbin only.
C. Doctors only.
D. Evermore only.
Answer: B
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On December 31 . 2014, Behring Enterprises leased equipment from R & R Equipment Rental. Pertinent lease transaction data are as follows: • The estimated seven-year useful equipment life coincides with the lease term. • The first of the seven equal annual $300,000 lease payments was paid on December 31 . 2014. • R & R's implicit interest rate of 1 . percent is known to Behring. •
Behring's incremental borrowing rate is 1 . percent. • Present values of an annuity of 1 in advance for seven periods are 5.11 at 1 . percent and 4.89 at 1 . percent. Behring should record the equipment on the books at a. $2,100,000. b. $1,533,000. c. $1,467,000. d. $0.
In which of the following scenarios would it be deemed that an act of constructive dismissal has occurred?
A) Vera quit her job as a result of her male colleagues consistently making sexually inappropriate remarks in the office. A) Polly, the sole female employee of a company, quit her job after being subjected to daily harassment owing to her religion. B) Harry, an assistant Vice President for ten years with his company, was demoted to Line Supervisor during a company restructuring process. C) All of the above D) None of the above.
On a balance sheet for a merchandiser, Merchandise Inventory is listed as a(n) ________
A) current asset B) current liability C) expense D) revenue
A written assignment may be either formal or ____________________
Fill in the blank(s) with correct word