Accounting and consulting partnership

Reference no: EM13189480

Hannah is a managing partner of Andrusian Worldwide LLP, an accounting and consulting partnership. Acting within her implied authority, Hannah makes a contract for Andrusian to perform an audit for National Motors Company. The audit fee is $325,000. The performance of the audit takes more hours than Hannah expected, because Hannah has failed to determine the number of locations in which National Motors does business prior to setting the audit fee. As a result, Andrusian loses $50,000 on the audit. Has Hannah breached a fiduciary duty? If not, why not? If yes,which duty and how?

Reference no: EM13189480

Questions Cloud

Derive an expression for the marginal product of labor : Consider a Cobb-Douglas production function with three inputs, K is the capital(number of machines), L is labor (nuber of workers) and H is human capital (the number of college degrees among workers) The production fucntion isY=K1/3 L1/3 H1/3

The limitation on alice''s authority : Pete Principal tells Alice, his sales agent, that under no circumstances does she have authority to make any warranties covering goods she sells for Pete. No third party ever learns about Pete's limitation on Alice's authority.

Based on the following production and sales estimates : Based on the following production and sales estimates for May, determine the number of units expected to be manufactured in May.

How the semi-salt is earning monopoly profits : Despite the absence of patent protection, Semi-Salt has averaged accounting profits of 5.5 percent on investment since it began producing polyglutamate- a rate comparable to the average rate of interest that large banks paid on deposits over this ..

Accounting and consulting partnership : Hannah is a managing partner of Andrusian Worldwide LLP, an accounting and consulting partnership. Acting within her implied authority, Hannah makes a contract for Andrusian to perform an audit for National Motors Company.

What must opec do to maintain the price of oil : The opening statement on the Web site of the Organization of Petroleum Exporting Countries says, "OPEC's eleven members are all developing countries whose economies are heavily reliant on oil export revenues. THey therefore seek stable oil prices ..

Painting in the early renaissance : Did Cimabue's Madonna Enthroned have Byzanine elements in it and it is therefore of lessor quality than any painting in the early Renaissance?

Discussion of how the epic ramayana : Begin your response with a brief definition of dharma and follow with a discussion of how the epic Ramayana illustrates this crucial ideal. Include specific examples of how Sita, Rama and other characters fulfill (or do not fulfill) their dharma

What is the total cash collected (both from accounts : As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each month's sales are for cash. Of the remaining..

User Account

All Pages