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Smith, Jones, and Brown were creditors of White, who operated a grain elevator known as White's Elevator. Heavily in debt, White was about to fail when the three creditors agreed to take title to his elevator property and pay all the debts.
It was also agreed that White should continue as manager of the business at a salary of $1,500 per month and that all profits of the business were to be paid to Smith, Jones, and Brown. It was further agreed that they could dispense with White's services at any time and that he was free to quit when he pleased.
White accepted the proposition and continued to operate the business as before. The agreement worked successfully and for several years paid substantial profits, enough so that Smith, Jones, and Brown had received nearly all that they had originally advanced. Were Smith, Jones, and Brown partners? Explain.
a. What is the range of transfer prices within which both the Divisions' profits would increase as a result of agreeing to the transfer of 4,000 special parts per year from the Parts Division to the Machinery Division?
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Which of Jack's activities or relationships impair his independence?
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Please read the article and provide your analysis about the success and failure of strategic alliances
Hood filed a petition for certiorari with the United States Supreme Court. Should the U.S. Supreme Court hear the case? Explain.
If you manage a phone assembly department, when during the month would you tend to request that your phone circuit boards be assembled by the board department (everything else being held constant)? Explain why.
Bettye Gregg offered to purchase a house from Head & Seeman, Inc. (seller). Though she represented in writing that she had between $15,000 and $20,000 in equity in another home that she would pay to the seller after she sold the other home, she kn..
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