Dr. Nicholas Sollinger, as President of the Catalina Association of Retired Persons, may be an important advocate, both on the Board and in the larger Catalina community. Do you concur with him? (Please correct answer)
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- "The Board has adopted Corporate Governance Policies to ensure that the Board has the necessary authority and processes in place to review and evaluate our business operations as needed and to make decisions that are independent of our management. These policies include practices the Board follows with respect to its composition and selection, regular evaluations of the Board and its committees, Board meetings and involvement of senior management, senior management performance evaluation, and Board committees and compensation" Is a member of senior management present at all full Board and Board Committee meetings? Group of answer choices a) Yes b) It depends c) NoA) Assuming you are the company secretary of a construction firm in Ghana, what will be the ten (10) key areas regarding the roles a n d duties you will perform on the board as the company secretary and the company as a whole? B) As a company secretary, suggest to the board five (5) circumstances that may lead to the appointment of a director being terminated? C) Ghana was not long ago in the news as a result of the collapse of some commercial banks. The reasons for the collapse were attributed to weak governance structures among others. There is a new bank which is about to be set up in Accra. As a corporate governance consultant, suggest to the directors five (5) ways in which the application of Corporate Governance Principles will be beneficial for the new bank.John Smith has been appointed as director of Luxury Furnishings Ltd. – a companymanufacturing and supplying luxury furnishings to home stores, hotels, restaurantsetc. You are instructed to advise John on his duties to the company.
- Mario and Johnny want to start a business. They have very little capital. They are new partners and largely unfamiliar with each other’s management practices. They are happy, however, to be organizing a business together in order to avoid full liability for the business. Which detail of this situation is a good reason for Mario and Johnny to create a general partnership? Sharing profits Avoiding full liability Unfamiliar with each other’s management practices Little capitalC. Identify the Form of Business Organization being described. (a 1. Form of business organization with unlimited lives and the death or withdrawal of an owner does not affect its existence. 2. The establishment is generally an easy and inexpensive process. _3. The most important characteristic of this form of organization is always limited liability. 4. It involves a contractual agreement between all the partners that set the terms and conditions of their business relationship, including the distribution of ownership, responsibilities, and profits and losses. 5. This form of business organization generally enjoys fewer options to raise capital.As a source of income during the pandemic, Nena, together with friends in the barangay, established an enterprise wherein the group members made “bags” out of used garments and thereafter sold the products for profit. Is the income of each member excluded from gross income? a. Yes, it is clear that the enterprise is a “Barangay Micro-Business Enterprise” (BMBE). b. Yes, it is clear that each member is a minimum wage earner. c. Both A and B d. No, there is no showing that the enterprise is a duly-registered BMBE or that each member is a minimum wage earner.
- Sulaiman and Ahmad set up their business only through mutual understanding and trust. However disagreement and disputes related to their roles in the business often occur and sometimes this creates discomfort between them. Which would be the best solution for their disputes? a. Do not take any action as they are friends b. Create an agreement to formalize their partnership c. Hire expert to manage their business d. End their business and go separate ways1. Goldie and Hattie want to develop real estate and want to organize it under their state's Revised Uniform Limited Partnership Act. (a) Please advise Goldie and Hattie about what they will need to create and capitalize their partnership. (b) What advantages does the limited partnership business form offer to them over the general partnership? (c) What should Goldie and Hattie expect about their personal liability and tax situation?Joey and Monica were food and nutrition majors at State University, as well as close friendsand roommates. Upon graduation, Joey and Monica decided to open a French restaurant inTulsa, the small town were the University was located. There were no other Frenchrestaurants in Tulsa, and the possibility of two friends. They purchased an old Victorian homejust off Main Street for their new restaurant, which they named “Central Perk”.Joey and Monica knew in advance that at least initially they could not offer a full, varied menuof dishes. They had no idea what their local customers’ tastes in French cuisine would be, sothey decided to serve only two full-course meals each night, one vegetarian and the other nonvegetarian. Their chef, Tom, was confident he could make each dish so exciting and uniquethat two meals would be sufficient, at least until they could assess which menu items weremost popular. Tom indicated that with each meal he could experiment with differentappetizers, soups,…
- Shep and Gerald are nearing the end of the production of their new film, "It All Falls Sideways," and are seeking advice on how to end their limited partnership. Shep and Gerald have some outstanding bills and still expect some income as well. (a) What steps are necessary to end this limited partnership? (b) What would happen if Shep wanted to end the partnership, but Gerald wanted to continue making films? (c) What must Shep and Gerald do to wind up and distribute the remaining assets?24. When determining whether a partnership exists, which of the following factors would a court consider? Group of answer choices A. Whether the organization intended to make a profit B. Were the participants involved in the management of the business? C. Did the participants have an agreement? D. All of the aboveXYZ Corp. hires Sammy Bearkat to be the manager of its new office in Huntsville. XYZ gives Sammy business cards indicating that he is office manager, and buys an advertisement in the local paper to announce that it will be opening an office with Sammy as office manager. Sammy has: O a. implied authority to lease office space b. implied authority to enter into contracts for utility service c. express authority to run the daily operations of the office d. All of the above e. None of the above