Bob and Charlie are owners of BoChar, A partnership. Bob decides to go with a particular supply
company, Sammy supplies. He enters into a contract on behalf of the partnership. Charlie, upset that Bob made this decision, calls Sammy and informs them that BoChar Will not be doing business with them. Sammy supplies brings a lawsuit against Bob and Charlie for breach of contract. Who is liable here Explain.
McDonald's, a publicly traded C corporation, had a very profitable year in 2002. It had net income of $893 million and Paid $0.24 per share in dividends, Stephanie owned 20,000 shares of McDonald's stock that year and those received $4800. Who is taxed on their income in this case Explain.
J & M Inc., a U.S. corporation, seeks to avoid double taxation. Their accounted suggested that they file their taxes as an S Corp. J&M has 127 shareholders and three classes of stock. Majority of their shareholders are foreign investors and corporations. Are they able to file their taxes as an S corporation Why or why not
what are two common ways that a publicly traded company can get money OTHER THAN through a bank loan
Norman is a director of "Drive me crazy Co", A cab company. Because he doesn't want to spend a lot of company money, he hires a cab driver as chief executive officer, who has no experience in managing anything. Norman figures that if you can drive a cab you can probably manage the company. Derek, a shareholder, thinks that this is a lousy idea and asks if Norman's conduct can be challenged on any basis. Can it, Explain
Bombast, Inc. Want to acquire Whismey, Inc. The problem is that Bombast Has only $50 million in liquid assets and acquiring Whismey would cost over $500 million. What can Bombast do to overcome this problem? Explain at least one possible solution.
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