Jan hires Duncan to act as her agent in acquiring some property for the development of a new subdivision she is planning that will be an elegant planned community. Jan instructs Duncan that he is not to say he is working for her or, for that matter, that he is working for anyone. If Duncan enters into a contract for land for Jan that is the parcel she wanted:
A) Duncan only is liable on the
contract for the purchase of the land.
B) Jan can never be held liable for the land because Duncan acted in his name.
C) both Jan and Duncan are liable on the contract for the purchase of land.
D) it is fraud to conceal the identity of a party to a contract.
E)None of the above
C
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Harrison, Inc, has computed direct labor standards for the manufacture of its product to be 4 hours of labor per product at a cost of $15 per hour. During March, Harrison produced 45 products in 190 hours and incurred direct labor costs of $2,720 . Harrison's direct labor efficiency variance was
a. $20 (U). b. $130 (U). c. $150 (U). d. $130 (F).
In a case in which a buyer purchases goods from a thief who has stolen them, the purchaser does not acquire title to the goods.
Answer the following statement true (T) or false (F)
Assess how the identity and ethos of a successful not-for-profit enterprise contribute to its success. To what extent can executives manage identity and ethos?
What will be an ideal response?
Companies Heidee and Leaudy have the same sales, tax rate, interest rate on their debt, total assets, and basic earning power. Both companies have positive net incomes. Company Heidee has a higher debt ratio and, therefore, a higher interest expense. Which of the following statements is CORRECT?
a. Company Heidee has more net income. b. Company Heidee pays less in taxes. c. Company Heidee has a lower equity multiplier. d. Company Heidee has a higher ROA. e. Company Heidee has a higher times interest earned (TIE) ratio.