A principal may be held liable for the torts of a(n) __________ only in extraordinary circumstances, usually involving highly dangerous acts or nondelegable duties
a. agent
b. servant
c. employee
d. independent contractor
d
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Tracing back to individual business events that have been aggregated into account balances is done by means of a(n):
a. electronic reference service b. general ledger account c. audit trail d. data dictionary
The Securities and Exchange Commission (SEC)
A) regulates both primary and secondary markets. B) regulates initial public offerings, but not seasoned equity offerings, in the primary market. C) regulates only initial public offerings, or IPOs. D) regulates only primary market transactions to ensure investors are provided with adequate and accurate information on new securities.
The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 1,600 direct labor-hours will be required in February. The variable overhead rate is $3.40 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $28,320 per month, which includes depreciation of $3,680. All other fixed manufacturing overhead costs represent current cash flows.The February cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
A. $33,760 B. $24,640 C. $30,080 D. $5,440
Bill Anders is considering investing in a franchise in a fast-food chain. He would have to purchase equipment costing $420,000 to equip the outlet and invest an additional $30,000 for inventories and other working capital needs. Other outlets in the fast-food chain have an annual net cash inflow of about $120,000. Mr. Anders would close the outlet in 5 years. He estimates that the equipment could be sold at that time for about 10% of its original cost and the working capital would be released for use elsewhere. Mr. Anders' required rate of return is 8%. (Ignore income taxes.)Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.Required:What is the investment's net present value? Is this an acceptable investment?
What will be an ideal response?