According to the text, can an employer be held liable for negligence when an intoxicated employee causes an automobile accident after drinking alcohol at a company function? (See the Lev v. Beverly Enterprises-Massachusetts, Inc, case.)
a. Yes, an employer can be liable to the plaintiff injured in the accident, based upon the principle of vicarious liability.
b. Yes, an employer can be liable to the plaintiff injured in the accident, under an aided-in-the agency theory.
c. Yes, the employer can not be liable to the plaintiff injured in the accident, based upon violations of its own alcohol-abuse policy.
d. No, the employer is never liable to the plaintiff injured in the accident.
a
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Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a ratio of 3:2 . Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000 . If the noncash assets are sold for $80,000, the Macki's capital account will
a. decrease by $16,000 b. decrease by $24,000 c. increase by $24,000 d. decrease by $40,000
If you lie to the other party by saying "Your sins are about to be uncovered" indicating that you know what they know but will not discuss it, is the verbal tactic of ________ to determine whether the other party is acting deceptively.
Fill in the blank(s) with the appropriate word(s).
Alpha Company has assets of $640,000, liabilities of $270,000, and equity of $370,000. It buys office equipment on credit for $95,000. What would be the effects of this transaction on the accounting equation?
A. Assets increase by $95,000 and expenses increase by $95,000. B. Assets increase by $95,000 and liabilities increase by $95,000. C. Liabilities increase by $95,000 and expenses decrease by $95,000. D. Assets decrease by $95,000 and expenses decrease by $95,000. E. Assets increase by $95,000 and expenses decrease by $95,000.
____________________ is both an expense to the firm and an investment in future sales.
Fill in the blank(s) with the appropriate word(s).