Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Your firm has been hired to examine the financial statements of Bonanza Development Corp. for possible irregularities. As part of this task, you reviewed certain land transactions involving John Walters, who worked as an agent for Bonanza. Bonanza feared the price of land would skyrocket if it became known that it was trying to purchase a large number of tracts of land to develop a shopping center near Flats, Nebraska. It, therefore, instructed Walters not to disclose to prospective sellers that he was acting as an agent on its behalf. None of the sellers asked Walters if he was an agent for anyone. The agreement between Walters and Bonanza was in writing and signed by both parties.
Based on the above facts, answer the following questions as (1-6) True or False.
1. Bonanza is an unidentified principal.
2. Walters is personally liable on the contracts he enters into on behalf of Bonanza.
3. Bonanza cannot enforce the contracts made by Walters secretly on its behalf.
4. The sellers who entered into contracts with Walters can enforce the contracts against Walters, but not Bonanza.
5. Walters had actual authority to enter into the contracts with the sellers.
6. Walters is not an agent of Bonanza since the prospective sellers did not know he was working for Bonanza.
Financials Investments, a group of financial advisors and retirement planners, has been requested to provide advice on how to invest $200,000 for one of its clients. The client has
1. Prepare three years of monthly cash budgets, yearly income statements, and yearly balance sheets for the jewelry business Daisy & Company. General Information: 1. Th
FSN Analysis: In this method inventory items are classified as per the usage/consumption pattern. They are categorizing as: Fast Moving (F) items are stored in huge quant
Notice an Rs.50, 000 investment in a one year fixed deposit and rolled over yearly for the subsequently two years. The interest rate for the primary year is 5 percent yearly and
In the context of the public sector, discuss incremental system of budgeting and evaluate their strengths and weaknesses
Terry Marks is a well-known architect. He wants to start his own business and convinces Rob Norris, his cousin and a civil engineer, to contribute capital. Together, they form a pa
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
QUESTION 1: The Alpha Company Ltd was registered with Nominal Capital of 60,000 Equity shares of Rs.10 each. The following were the ledger balances on 31st March 2011.
Thatcher Corporation's bonds will mature in 12 years. The bonds have a face value of $1,000 and an 11.5% coupon rate, paid semi-yearly. The price of the bonds is $1,050. The bonds
Rules of intestacy:leaves several wives The intestate leaves several wives, married under any system of law which permits polygamy. His personal and household effects and the r
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd