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In: Accounting

In your own words, briefly state at least 1 thing you have learned from Chapter 19...

In your own words, briefly state at least 1 thing you have learned from Chapter 19 (Secured Transactions), Chapter 21 (Agency Relationships), and Chapter-24 (Merger & Acquisition)

Solutions

Expert Solution

SECURED TRANSACTION:

A transaction in which if we make the paymnt of debt for that we have to provide a guarantee by personal property.

The person who provides the guarantee is known as a debtor.

The person who holds interest in the secured property is known as a secured creditor.

This is done by signing an agreement known as security agreement.

Example:

A sells a laptop on credit to B. So therefore A has a security interest and can repossess the same if B fails to make the payment.

AGENCY RELATIONSHIPS:

Agency is a relationship between two parties. Such a relationship is made by an agreement o by law that binds both the parties towards one another.

In such a relationship the agent has full control to alter the legal relations of another.

the agent is bound for all the money to account for the pricipal and also the property of the principal.

The agent shall keep all the information of the principal confidential.

MERGER AND ACQUISITION

MERGER:

In a transaction of merger the the two companies are merged and the assets of both the organisations are consolidated.

For such transaction approval of shareholders is necessary and also the approval of shreholders.

In such a transaction the acquired company comes to an end and becomes a part of acquiring company.

Two companies join and dorm a new separate organisation.

ACQUSITION

An acqusition is atransaction in which one entity purchases another entity.

Acquisition is also known as takeover sometimes.

In such type of transactions one company takes over all the operational management decisions of another.

  

ekkarill92 answered 1 year ago
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