Corporate Law
The company is prohibited from purchasing, dealing in or lending money on its own shares. Therefore, a company is prohibited from buying back its shares, which tantamount to giving priority to the member who is selling his shares, over the company's creditors and other members. This transaction will also result in the reduction of the company's capital.
Based on the statement above critically discuss exceptions to
the prohibition of share buy-back as provided under the Companies
Act 2016. Support your answer with relevant statutory provisions of
the Companies Act 2016 and decided cases.
Thanks advanced.
In: Operations Management
Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low. Suppose a company wants to test the response to a new flyer and sends it to 1060 people randomly selected from their mailing list of over 200,000 people. They get orders from 110 of the recipients. Complete parts a through d below.
a) Create a 90% confidence interval for the percentage of people the company contacts who may buy something.
(___%,___%)
(Round to one decimal place as needed. Use ascendingorder.)
In: Statistics and Probability
Assume that the Moon's orbit around Earth us approximately circular, and use this to calculate the distance to the Moon from Earth.
In: Physics
Outline the advantages and disadvantages of purchasing a CALL at 67pence and writing a PUT at 66 pence for an MNC importing from the US
In: Finance
Are men and women inherently different, or are they essentially the same, through society teaches us to be different from each other?
In: Economics
Please only provide feedback for this discussion:
One major conflict of interest for a board member is when the CEO of the company is on the board, in anyway, but especially as the chair of the board. This is a problem for the company and shareholders because the board determines the salary of the CEO. The board is also in place to make decisions that would be in the best interest of the company and the shareholders, not just for the CEO, who is more likely to be looking for a way to build the company in order to increase their own salary. This could be avoided by no allowing the CEO to sit on the board at all.
Another way that a board could act unethically is to buy up major shares in the company to keep a buyout from happening. Often the buyout is necessary for growth, but the board will act in a way to keep their jobs, salaries and benefits. It seems like this could be unavoidable, but shareholders should determine the amount of shares needed to accomplish a buy out.
LA 1.2
A conflict of interest is usually understood by all involved and can be found in rules or regulations set by a company, for example, it is a conflict of interest in the U.S. Government or Military to have a spouse in command of their spouse. Morale reasoning is individually based and can change depending on who has to evaluate the situation.
In: Operations Management
What do you believe makes us human? Base your response from the GCU introduction and the textbooks. Cite references from your reading to support your answer
In: Nursing
Agents of socialization teach us ways that we should act and think about ourselves, but they also teach us how we should think about and act toward others. What kinds of messages did you receive from different agents of socialization about gender? What did you learn about boys and girls and from where did you learn these messages? What about race? What kinds of messages did you receive about white people? Black people? Asian? Hispanic?
In: Psychology
1a. Can COVID-19 induced fall in oil prices act to break the global carbon lock-in?
b. Oil prices have become 'evermore' volatile. Ranging from as high as US$160/barrel, oil prices went low and with the impact of COVID-19, WTI crude sold for below US$0/barrel on 20th April 2020. Based on the case of one oil producing country in Africa and one from any other region, discuss the differentiated impacts of oil price volatilities on economies.
In: Accounting
ABC Company began operations on July 1, 2019. The company was organized and owned by three former employees of a large computer manufacturer. The firm produces a component used in several brands of personal computers. One of the major stockholders has just finished her first accounting course at a nearby university and has agreed to perform accounting services for the firm. At the end of July, she prepared the following income statement: ABC Company Income Statement For the Month Ended July 31, 2019 US $ US $ Sales 600,000 Operating expenses: Selling and administrative 156,000 Raw materials purchased 192,000 Direct labor 161,000 Indirect labor 70,000 Building rent 60,000 Utilities 20,000 Royalty on production patent 60,000 Plant maintenance 18,000 Plant equipment rental 20,000 Total operating expenses 757,000 Net income (loss) (157,000) The accountant was very confused when she completed the income statement. Throughout the month, the three owners observed that the sales and production performance for the firm had been in line with their expectations. In addition, the selling price per component had been $20, which was the expected selling price. Yet, the income statement shows a significant net loss of $157,000 for the first month of operations. The company president’s reaction to the financial results was even more negative after he had a chance to review the calculations. “This simply cannot reflect what happened,” was his initial comment. “We were expecting a unit production cost for each component in the $12 to $13 range when we set our selling price of $20, which is compatible with the price charged by our main competitors. Now you are telling me that our unit cost must be significantly higher than that when we produced 40,000 units during July. What in the world is wrong? We cannot survive at this rate and we sure cannot raise our selling price. Let’s look at these numbers again.” The accountant reconsidered the situation and discovered the following: 1. Inventories at the end of July: Raw materials $22,000 Work in process $80,000 Finished goods ? 2. The production operation uses 70% of the building and the selling and administrative functions occupy the other 30%. Utilities are used in the same ratio. 3. A production patent used by the firm has a royalty of $2 per component produced. 4. Rent on the plant equipment is $5,000 per month plus $0.5 per component produced. Required: A. How many components were sold during July? B. How many components were in the ending finished goods inventory on July 31, 2019? C. Prepare a corrected income statement for July and a supporting cost of goods manufactured statement. Determine the unit production cost for each of the 40,000 components produced to compute the cost of the ending finished goods inventory
In: Accounting