Hampton Inn's 100 percent satisfaction guarantee is a good example of a service guarantee that goes wrong and hurts a firm's financial performance
Indicate whether the statement is true or false
False
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When the purchase price of another entity exceeds the book value of the entity's net assets the purchaser allocates the excess to identifiable assets and liabilities in order to revalue them to market value and any additional excess is allocated to ____________________
Fill in the blank(s) with correct word
Norr and Caylor established a partnership on January 1, 2017. Norr invested cash of $100,000 and Caylor invested $30,000 in cash and equipment with a book value of $40,000 and fair value of $50,000. For both partners, the beginning capital balance was to equal the initial investment. Norr and Caylor agreed to the following procedure for sharing profits and losses:- 12% interest on the yearly beginning capital balance- $10 per hour of work that can be billed to the partnership's clients- the remainder divided in a 3:2 ratioThe Articles of Partnership specified that each partner should withdraw no more than $1,000 per month, which is accounted as direct reduction of that partner's capital balance.For 2017, the partnership's income was $70,000. Norr had 1,000 billable hours, and
Caylor worked 1,400 billable hours. In 2018, the partnership's income was $24,000, and Norr and Caylor worked 800 and 1,200 billable hours respectively. Each partner withdrew $1,000 per month throughout 2017 and 2018.Determine the amount of net income allocated to each partner for 2018. (Round all calculations to the nearest whole dollar.) What will be an ideal response?
Priscilla Han signs a mortgage document to mortgage her house to Pascal Wong. Pascal does not register it. Priscilla then sells the property to Danny Kwon who does not know of the mortgage and who registers the deed
Which of the following statements is TRUE? A) The mortgage is enforceable against Danny because Priscilla signed it when she owned the property. B) The mortgage is enforceable against Danny because it is in writing. C) The mortgage is not enforceable against Danny because it was not registered. D) The mortgage is enforceable because mortgage rights cannot be extinguished except by fraud. E) both A and B
William, who is a waiter, is injured when an unopened bottle of cola explodes in his hand while he is putting it into the restaurant's cooler. If William wants to sue the bottling company for his injuries:
a. he will lose, because it will be impossible for him to prove that the bottle was overpressurized by the bottler. b. he will lose, because the bottling company has no duty to him. c. he will probably win if the court allows him to use the res ipsa loquitur doctrine. d. he will win based on the last clear chance rule.