Incorporators of Maizey Co signed and delivered the corporate charter to the proper office, but due to inefficiencies in the government office, the filing was delayed. During the period between the delivery of the charter and the filing, a promoter of Maizey Co entered a contract for the delivery of goods using the corporate name. The supplier, if it finds out the filing had not been completed
when the contract was entered, may hold the promoter personally liable on the contract.
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Who owns and controls an accountant's working papers?
A) The client, in practice B) The IRS C) The accountant, in theory and practice D) The client, in theory
Determine the p-value associated with each of the following values of the standardized test statistic z, and state your conclusion
a. two-tail test, with z = 1.50, and ? = .10 b. one-tail test, with z = 1.05, and ? = .05 c. one-tail test, with z = -2.40, and ? = .01
The partnership reports each partner's share of income to the partner on a Form 1099-MISC
a. True b. False Indicate whether the statement is true or false
Which of the following share option plans would involve the creation of a liability account over the life of the plan?
A. all share option plans B. fixed compensatory share option plans C. performance-based compensatory share option plans D. share option plans with stock appreciation rights