The possessor of non-negotiable commercial paper has:
a. the same rights--no more, no less--as the person who made the original contract.
b. fewer rights than the person who made the original contract.
c. more rights than the person who made the original contract.
d. equal, but different rights than the person who made the original contract.
a
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Explain any three of the main principles of GATT 1947?
What will be an ideal response?
Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2018. The book value and fair value of Vicker's accounts on that date (prior to creating the combination) are as follows, along with the book value of Bullen's accounts: BullenBook ValueVickerBook ValueVickerFair ValueRetained earnings, 1/1/20$250,000$240,000 Cash and receivables 170,000 70,000$70,000Inventory 230,000 170,000 210,000Land 280,000 220,000 240,000Buildings (net) 480,000 240,000 270,000Equipment (net) 120,000 90,000 90,000Liabilities 650,000 430,000 420,000Common stock 360,000 80,000 Additional paid-in capital 20,000 40,000 ?Assume that Bullen issued preferred stock with a par value of $240,000 and a fair value of $500,000 for all of the outstanding shares of
Vicker in an acquisition business combination. What will be the balance in the consolidated Inventory and Land accounts? A. $440,000, $496,000. B. $425,000, $505,000. C. $400,000, $500,000. D. $440,000, $520,000. E. $427,000, $510,000.
A limited partner has no right to participate in management of the limited partnership
Indicate whether the statement is true or false
The following data pertain to the Ouster Division of Klandestine Company:Divisional contribution margin$700,000Profit margin controllable by the divisional manager320,000Profit margin traceable to the division294,400Average asset investment1,280,000The company uses responsibility accounting concepts when evaluating performance; Ouster's division manager is contemplating the following three investments. He can invest up to $400,000.?No. 1No. 2No. 3Cost$250,000$300,000$400,000Expected income50,00054,00096,000Required: A. Calculate the ROIs of the three investments.B. What is the division manager's current ROI, computed by using responsibility accounting concepts?C. Which of the three investments would be selected if the manager's focus is on Ouster's divisional performance, as judged by
ROI? Why?D. If Klandestine has an imputed interest charge of 22%, compute the residual income of investment no. 3. If Ouster's Division manager is evaluated by residual income, is this investment attractive from Ouster's perspective? From Klandestine's perspective? Why? What will be an ideal response?