subject
Business, 09.04.2020 19:20 QueenNerdy889

Joe Helquist and Samantha Gillis were partners in the operation of an office supply business for 32 years. Joe had always handled suppliers and Samantha was responsible for running the store and managing employees. Joe decided to retire and Samantha gave him a fine retirement dinner. Joe had some financial setbacks shortly after retirement when his wife became ill and two of his children decided to go on for their masters' degrees. Joe began ordering supplies from the usual suppliers since they were not aware of his retirement. Joe would intercept the supplies at the loading dock and then sell them on his own. Samantha soon caught the discrepancy in the bills and her inventory and refused to pay the suppliers when she learned of Joe's scheme. Which of the following statements is correct?a. Samantha is not liable to the suppliers since Joe's authority terminated. b. Samantha is not liable to the suppliers because Joe's acts constituted fraud. c. Samantha is liable to the suppliers. d. none of the above

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 03:00
For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.
Answers: 3
question
Business, 22.06.2019 06:40
10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.
Answers: 3
question
Business, 22.06.2019 11:30
Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer
Answers: 3
question
Business, 22.06.2019 11:40
On january 1, 2017, sophie's sunlounge owned 4 tanning beds valued at $20,000. during 2017, sophie's bought 3 new beds at a total cost of $14 comma 000, and at the end of the year the market value of all of sophie's beds was $24 comma 000. what was sophie's net investment
Answers: 3
You know the right answer?
Joe Helquist and Samantha Gillis were partners in the operation of an office supply business for 32...
Questions
question
Mathematics, 14.07.2020 21:01
Questions on the website: 13722363