The corporate veil can be pierced under the alter ego theory when:
A) there were insufficient assets put into the corporation at its creation
B) the corporation was formed to avoid personal liability.
C) personal and corporate assets or debts are mixed.
D) too many meetings have occurred.
C
You might also like to view...
Answer the following statements true (T) or false (F)
1. Government legislation often requires the submission of an environmental assessment document for review and approval. 2. The level of cooperation between ENGOs and business is increasing. 3. ENGOs are groups that hold shared values or attitudes about challenges confronting the environment. 4. Environmental groups are easy to deal with. 5. Market environmentalism involves self-regulation.
What factor related to manufacturing costs causes the difference in net earnings computed using absorption costing and net earnings computed using variable costing?
a. Absorption costing considers all costs in the determination of net earnings, whereas variable costing considers only direct costs. b. Absorption costing "inventories" all direct costs, but variable costing considers direct costs to be period costs. c. Absorption costing "inventories" all fixed manufacturing costs for the period in ending finished goods inventory, but variable costing expenses all fixed costs. d. Absorption costing allocates fixed manufacturing costs between cost of goods sold and inventories, and variable costing considers all fixed costs to be period costs.
Use this information to answer the following question. Oct. 1 Inventory 200 units @ $12.00 6 Purchase 300 units @ $13.20 13 Purchase 100 units @ $14.40 20 Purchase 200 units @ $15.60 25 Purchase 40 units @ $16.80 Total sales 620 units A periodic inventory system is used. Using FIFO, the cost assigned to ending inventory is
A) $8,112. B) $2,664. C) $3,480. D) $8,928.
Trespass may occur below the surface of land
a. True b. False Indicate whether the statement is true or false