Jack's business premises were destroyed in a fire and all his
records were lost apart from a recent analysis that he had made of
the latest period's results for his company. He managed to retrieve
the following:
Sales: $375000
GP margin: 28%
Total expenses ratio: 17%
Tax Rate 30%
Debt of equity 0,75:1
Current Assets as percentage of cost of 22%
Sales
Current ratio 1.8:1
Return on Equity 11%
Question:
From the information given reconstruct a Statement of Profit or...
BUSINESS LAW 1
9 . Under the doctrine of transferred intent:
a) liability for an intentional tort committed by one defendant
can be
transferred to another defendant
b) one plaintiff’s right to sue a defendant for an intentional
tort can be
transferred to another plaintiff
c) a defendant can be held liable for intentionally causing a
certain harm
(harm A) even though he actually intended to cause a different
harm
(harm B)
d) a defendant who commits a n act...
BUSINESS LAW 1
5 . The doctrine of market share liability may be used :
a) where the plaintiff cannot prove which one of multiple
defendants
caused his harm
b) where multiple plaintiffs sue the same defendant for the same
harm
c) where a defendant’s tortious conduct causes harm to the
plaintiff’s
business in the form of lost or decreased market share
d) as a defense to a products liability lawsuit ____
6 . Abby tells Bob that she will...
BUSINESS LAW
EMPLOYMENT LAW
8. Now, name 4 things that the IRS requires that employers
do.
9. What is the purpose for unemployment laws, and who pays
unemployment tax? What happens when the state unemployment
insurance fund runs out of money?
10. What is the purpose for workers compensation laws? What
happens to an employer who does not have workers comp insurance
when an employee is hurt at work?
Padres Co sells goods subject to a state sales tax of 8%. State
law requires that the amount of sales tax collected during the
month be remitted by the end of the following month. At the time of
a sale, Padres Co credits the sales account for both the amount of
sales revenue and sales tax. Sales tax, when paid, is then debited
to the sales account. Accrual for sales tax payable is made only at
December 31. Sales tax...
Business law:
Goods were displayed in the shop for sale with price tags
attached to each article and the self-service system was there. One
customer selected the goods. Could you describe this kind of
contract and when the contract is finalized? This case is an
Invitation to Treat and why?
8. Juliette formed a new business to sell
sporting goods this year. The business opened its doors to
customers on June 1. Determine the amount of start-up costs
Juliette can immediately expense (not including amortization) this
year in the following alternative scenarios. (Leave no
answer blank. Enter zero if applicable.)
a. She incurred start-up costs of $2,200.
Amount of start-up costs immediately expensed
?
b. She incurred start-up costs of $40,250.
Amount of start-up costs immediately expensed
?
c. She...
BUSINESS LAW 1 (3 Questions)
3 7 . The name for the judicial presumption that the directors
of a corporation
make informed business decisions acting in good faith in the
corporation’s
best interests is:
a) the business judgment rule
b) the fiduciary rule
c) the acts and omissions rule
d) the covenant of good faith and fair dealing ____
3 8. The employment relationship in which either party — the
employer or
the employee — can terminate the employment at...