which are reasons that companies began to shift interest from local markets to larger markets during the industrial revolution and the civil war?
The Industrial Revolution enabled companies to expand to larger markets through increased production and in transportation, the middle class increased the demand for goods. This provided companies to capitalize on larger markets.
1. The need to expand and diversify production to meet the increasing demand of a growing population.
2. The availability of new markets with higher potential for profit.
3. Access to resources and raw materials that were not available in local markets.
4. The increased ease of transportation and communication between the larger markets and local areas.
5. The emergence of new technologies and techniques allowed for increased efficiency and increased production.
6. The development of financial and legal systems that provided incentives for companies to invest in larger markets.
7. The disruption of local markets due to political, economic, and social upheaval caused by the Industrial Revolution and the Civil War.
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one strategy with profit-enhancing appeal that a company can pursue to reduce its exposure to adverse exchange rate adjustments to the total production cost of pairs shipped from a production facility in one geographic region to distribution warehouses in a different region is to
(a) Pass the cost of the adverse exchange rate adjustment along to purchasers of the company's footwear by raising the prices of all footwear sold in a geographic region by the full amount of any adverse exchange rate adjustment per pair that the company incurs in that region.
(b) Build sufficient plant capacity in each of the four geographic regions to supply most/all of the pairs needed in that region and greatly reduce (or eliminate) the need to ship pairs to a distribution warehouse from a plant in a different geographic region-such a strategy also cuts a company's payments of import tariffs.
(c) Build plants in geographic regions where there are adverse exchange rate cost adjustments and ship pairs from these plants to regions where there are favourable exchange rate cost adjustments.
(d) Pursue a strategy of ignoring exchange rate cost adjustments that are either favourable or unfavourable--the sizes of the favourable and unfavourable exchange rate adjustments in each geographic region will cancel each out over the various decision rounds and thus have no net effect on the company over the long run.
(e) pursue a strategy of lowering the prices of all footwear sold in a geographic region by the full amount of any unfavorable/adverse exchange rate adjustment per pair that the company incurs in that region and raising the prices of all footwear sold in a geographic region by the full amount of any favorable exchange rate adjustment per pair that the companies incurs in that region--such pricing adjustments act to maximize the resulting gains in total profits.
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b2b company is considering the purchase of equipment that would allow the company to add a new product to its line. the equipment costs $360,000 and has a 12-year life and no salvage value. the expected annual income for each year from this equipment follows. sales of new product $ 225,000 expenses materials, labor, and overhead (except depreciation) 120,000 depreciation—equipment 30,000 selling, general, and administrative expenses 38,250 income $ 36,750 (a) compute the annual net cash flow. (b) compute the payback period. (c) compute the accounting rate of return for this equipment.
B2B company is considering the purchase of equipment that would allow the company to add a new product to its line. the equipment costs $360,000 and has a 12-year life and no salvage value.
The expected annual income for each year from this equipment follows. sales of new product $ 225,000 expenses materials, labor, and overhead (except depreciation) 120,000 depreciation—equipment 30,000 selling, general, and administrative expenses 38,250 income $ 36,750 (a) compute the annual net cash flow. (b) compute the payback period. (c) compute the accounting rate of return for this equipment.
Therefore, Payback period is 5.39 years and accounting rate of return is 20.42%
Equipment is a tangible lengthy-term asset that benefits a commercial enterprise over numerous years of use. computers, vans and production equipment are all examples of equipment. they may be tangible because they have a bodily shape—not like intangible assets (including patents, logos or copyrights) that don't.
Salvage fee is the estimated ebook cost of an asset after depreciation is entire, based totally on what a agency expects to get hold of in exchange for the asset at the stop of its beneficial lifestyles. As such, an asset's anticipated salvage cost is an essential element inside the calculation of a depreciation agenda.
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Describe how advances in technology in today’s business world have both legal and ethical implications.
To stay up with the rapidly changing technological environment, laws and regulations that safeguard customers, employees, and other stakeholders are frequently updated.
What legal and ethical ramifications do modern business technology advancements have?To prevent legal ramifications, businesses must make sure they are current with all applicable rules and regulations.
For corporations, technical advancements have ethical implications in addition to legal ones. If technology is used irresponsibly, it can create ethical questions about how employees are monitored and how customers' data is collected. The privacy of employees and customers must be protected, and businesses must use the data they collect in an ethical and responsible manner.
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frankin corporation's net cash provided by operating activities was $205; its capital expenditures were $86; and its cash dividends were $43. the company's free cash flow was:
Free cash flow = $205 - $86 - $43. Therefore, Free cash flow = $76.
What do you mean by free cash flow?The money a business has remaining after paying its operating expenses (OpEx) and capital expenditures is known as free cash flow (FCF) (CapEx). The more free cash flow a business generates, the more it may invest in dividends, debt reduction, and expansion opportunities.
How do you calculate free cash flow?Sales revenue minus (operating costs plus taxes) minus necessary operating capital investments equals free cash flow.
Net operating profit after taxes minus net investment in operational capital equals free cash flow.
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Free cash flow = $205 - $86 - $43. Therefore, Free cash flow = $76.
What do you mean by free cash flow?The money a business has remaining after paying its operating expenses (OpEx) and capital expenditures is known as free cash flow (FCF) (CapEx). The more free cash flow a business generates, the more it may invest in dividends, debt reduction, and expansion opportunities.
How do you calculate free cash flow?Sales revenue minus (operating costs plus taxes) minus necessary operating capital investments equals free cash flow.
Net operating profit after taxes minus net investment in operational capital equals free cash flow.
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supply chain management is:multiple choiceinternally focused from supply management to internal users/customers.internally focused to align with other functions and externally focused ups
Supply chain management is: Internally focused to align with other functions and externally focused upstream through the supplier network and downstream through the customer network.
On the maximum essential degree, supply chain management (SCM) is management of the glide of products, facts, and budget related to a product or service, from the procurement of uncooked substances to the transport of the product at its very last destination.
Supply chain management is the control of the float of products and services including all methods that remodel uncooked substances into very last products between companies and places.
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the introduction phase of the product life cycle (plc) for an industry is usually characterized by .
The introduction phase of the product life cycle (PLC) for the industry is usually characterized by the building of awareness of the product or service in certain markets. The introduction stage happens when a product is launched in the marketplace.
There are different stages of the product life cycle. These include development, introduction, growth, maturity, saturation, and decline. The development stage of the product life cycle is the research phase before a product is introduced to the marketplace. In this stage, companies typically spend a lot of money without bringing in any revenue because the product isn't being sold yet.
In the introduction phase, marketers focus on advertising and marketing campaigns. They also work on testing distribution channels and building product and brand awareness.
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zorn incorporated makes a sale for $400. the company is required to collect sales tax of 9%. what is the amount that will be credited to the sales tax payable account?
$36 will be credited to the sales tax payable account.
A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase.
Sales tax is an indirect tax that is often assessed at the time that certain taxable products are purchased or exchanged. It is assessed as a percentage of the item's retail price.
The formula to calculate sales tax is Total Sales Tax = Cost of item x Sales tax rate.
Cost of item = $400
Sales tax rate = 9%
Total Sales Tax = 400 × 9/100 = 36
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A very large study showed that aspirin reduced the rate of first heart attacks by %. A pharmaceutical company thinks they have a drug that will be more effective than aspirin, and plans to do a randomized clinical trial to test the new drug. What is the null hypothesis the company will use?.
Answer:
The hypothesis is :What are the effects on people having their first heart attack with this drug.
Explanation:
a price shock (inflation shock) is: a change in the price level that is not caused by a change in output or a change in input prices. a change in output prices that is not caused by a change in output or a change in the price level. a change in input prices that is not caused by a change in output or a change in the price level. a change in the price level that is caused by either a change in output or a change in input prices.
A supply shock is an unanticipated occurrence that alters the supply of a good or commodity, which prompts an abrupt shift in price. In contrast to a negative supply shock, which reduces output and raises prices, a positive supply shock boosts output and lowers prices.
An inflation shock is what?An inflationary shock occurs when prices of goods rise abruptly (for instance, after a reduction in government subsidies) without immediate salary adjustments throughout society (resulting in a temporary loss of purchasing power for many consumers); or when production costs start to outpace corporate.
We discover that a positive inflation expectations shock is deflationary and contractionary using data for the United States: inflation, output, and interest rates all decrease. The traditional New Keynesian model, which forecasts rising inflation and interest rates, is at odds with these findings.
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Provide an example of how a company could make modifications to their business operations to incorporate sustainable best practices. How could these modifications be measured in terms of triple bottom line?.
This may mean switching to a green energy provider or investing in solar or wind energy equipment.
What Is the Triple Bottom Line (TBL)?According to the triple bottom line (TBL) economic theory, businesses should make a commitment to giving social and environmental issues the same amount of attention as they give earnings. According to TBL theory, there ought to be three bottom lines: profit, people, and the environment. According to the triple bottom line (TBL) economic theory, businesses should make a commitment to giving social and environmental issues the same amount of attention as they give earnings. According to TBL theory, there ought to be three bottom lines: profit, people, and the environment. A TBL aims to evaluate an organization's level of adherence to corporate social responsibility and its long-term effects on the environment.
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james, an american who works for a u.s.-based company, has been sent to england for a work assignment. james would be known as a(n)
James, an american who works for a u.s.-based company, has been sent to england for a work assignment. James would be known as an expatriate.
Who is an expatriate?Basically, an expatriate is a person who resides outside their native country.In common usage, it refers to educated professionals, skilled workers, or artists taking positions outside their home country either independently or sent abroad by their employers.
In other word, an expatriate means the individual living and/or working in a country other than their country of citizenship often temporarily and for work reasons. It can also be an individual who has relinquished citizenship in their home country to become a citizen of another.
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in a typical product-mix problem in linear programming, the objective is to part 2 a. minimize resource usage. b. maximize total production. c. maximize profit. d. minimize cost.
In a typical product-mix problem in linear programming, the objective is to c. maximize profit.
A product is an object, or system, or provider made available for patron use as of the patron call for; it is something that can be offered to a marketplace to satisfy the preference or need of a customer.
A product is the item presented for sale. A product can be a carrier or an object. it can be bodily or in virtual or cyber shape. every product is made at a price and every is sold at a price. The charge that can be charged relies upon in the marketplace, the quality, the advertising and the phase that is centered.
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When making scrap or rework decisions, management should consider: (check all that apply. ).
When making scrap or rework decisions, management should consider:
revenue from selling defective units as scrap.incremental costs.What is meant by rework decisions?Rework is the process of fixing a product that initially does not fulfill the minimal quality requirements of an entity. The product can now be sold thanks to the corrective work, allowing a company to recoup some of the margin from a product that would have otherwise been destroyed.
After inspection, rework is the process of fixing products that are flawed, unsuccessful, or nonconforming. Disassembly, repair, replacement, and reassembly are all parts of this process.
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When making scrap or rework decisions, management should consider: (Check all that apply.)
revenue from selling defective units as scrap.
incremental costs.
existing sales.
costs already incurred in producing defective units.
Answer:
revenue and incremmental
Explanation:
what is budgetary control? question 1 options: another name for a flexible budget the use of budgets in controlling operations the degree to which the cfo controls the budget the process of providing information on budget differences to lower level managers
Financial jargon for managing income and expenses is budgetary control. In actuality, it is routinely comparing actual income or expenses to anticipated ones to determine whether remedial action is necessary.
For instance, annual funds for general equipment are allocated to the majority of university departments. A department will be able to determine if a certain item can be afforded by routinely comparing actual spending on this budget against projected spending. A department will need to find an other source of funding if the account is in deficit (e.g. departmental reserves or charging to a research grant or contract).
Budgetary control is the process of observing expenditures and taking appropriate action.
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A company that wants to use scenes from the pixar movie soul in its advertising campaign would have to have a __________ with the pixar company to use the movie.
A company that wants to use scenes from Pixar movie soul in its advertising campaign would have to have a licensing agreement with the Pixar company to use movie.
What is a licensing agreement?The licensor and the licensee are the two parties to a licensing agreement, which is a formal legal contract. The licensor typically grants the licensee permission to create and sell items, use the licensor's brand name or trademark, or make use of any patented technology in a licensing agreement. In return, the licensee typically consents to a number of restrictions on how to use the licensor's property and agrees to pay royalties. A wide range of well-known circumstances are covered by licensing agreements. Or a small manufacturer can, in order to acquire a competitive edge, license a proprietary production technology from a bigger company rather than investing the time and resources to try to develop its own technology.
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Vijay Inc. purchased a three-acre tract of land for a building site for $420,000. On the land was a building with an appraised value of $123,000. The company demolished the old building at a cost of $12,000, but was able to sell scrap from the building for $1,700. The cost of title insurance was $900 and attorney fees for reviewing the contract were $460. Property taxes paid were $2,400, of which $290 covered the period subsequent to the purchase date. The capitalized cost of the land is:
A. 435,760
B. 433,770
C. 298,190
D. 435,470
The correct option is: B. 433,770
Actual Cost of Land 420000
ADD:-
demolished cost 12000
Insurance 900
Attorney Fee 460
Property Tax Paid(2400-290) 2110 15470
435470
Less:-scrap sold -1700
Capitalized cost of land 433770
How Does Property Tax Work?
Property tax is a charge made on real estate that is owned by a person, a business, or another type of legal body. Property tax is most frequently a real estate ad-valorem tax, regarded as a regressive tax. The local government computes it in the area where the property is situated, and the owner is responsible for paying for it. Usually, taxes are calculated based on the value of the assets that are possessed, including land. However, a lot of places additionally tax things like vehicles and boats that are tangible personal property.
The local governing body will utilize the assessed taxes to pay for water and sewer upgrades and other community-beneficial services including libraries, law enforcement, fire protection, and road and highway building. Reconveyance deeds do not interact with property taxes.
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Michelle Robinson is thinking about two different decisions. One decision is quite risky, while the other decision is more conservative. To help her make the right decision, she decides to calculate the:
a. quickratio. b. managementanalysis. c. moneyfactor. d. risk-return ratio. e. entrepreneurial ratio.
To be able to make the right decision between the risky and conservative decision, Michelle Robinson should take a d. risk-return ratio calculation.
What is the benefit of the risk - return ratio calculation?The risk - return ratio allows us to find out if we are getting enough returns from an investment, relative to the risk that we are incurring. In other words, the risk - return ratio would show us if we are being adequately compensated for the risk that we take when we decide that an investment is the best option for us.
The risk - return ratio is important because it allows us to compare investments that have different risks. This means that Michelle Robinson can adequately compare the two decisions which are risky and conservative based on which decision brings in more returns, relative to the investment.
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Stellar Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Replacement Cost/Unit Estimated Selling Price/Unit $11.24 Item Unit Cost Quantity 1,800 Completion & Disposal Cost/Unit $1.61 0.96 Normal Profit Margin/Unit $1.93 1.28 A $8.99 $8.03 8.77 B 1,500 8.45 10.06 с 5.99 5.78 1.23 0.64 1,700 1,700 D 0.86 7.70 6.74 7.17 4.07 6.85 1.61 4.49 6.74 E 2,100 0.75 1.07 Greg Forda is an accounting clerk in the accounting department of Stellar Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant.
An inventory rule called Lower of Cost or Market (LCM) is used to follow the conservatism principle. Inventory should be recorded in the books at the lower of its historical cost and market values, as stated in this rule. Replacement cost is limited by a ceiling, or net realizable value, and a floor, or net realizable value less normal profit, to define the market.
What is the Market or Lower Cost Method?According to the lower of cost or market (LCM) method, a company's inventory is valued by recording it on its balance sheet at either its historical cost or its market value. Verifiable expense alludes to the expense at which the stock was bought.
Is market or cost reduction GAAP?After asset values change, a GAAP-approved method for revising the reported book value of certain assets is the Lower of Cost or Market Rule. The lower of either (a) the historical cost or (b) the market value is reported by owners as the new book value of securities or inventories in accordance with the LCM rule.
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neoliberalism is associated with a. selling public services like water and public transportation to for-profit companies. b. increased spending on health and education. c. increased financial regulation to protect consumers from predatory lenders. d. supporting fair trade to return profits to producers.
Neoliberalism is associated with selling public services like water and public transportation to for-profits companies.
Is neoliberalism a form of political philosophy?The World Bank, the International Monetary Fund, the World Trade Organization, and many of the United Nations' technical agencies, including the World Health Organization, all have neoliberalism as their dominant ideology. Neoliberalism also permeates the public policies of many governments in both developed and developing nations.
In terms of human rights, what is neoliberalism?The goal of neoliberal theory is to lessen or perhaps do away with the state's social and welfare duties, which are essential to the protection and realization of human rights.
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chegg for a perfectly competitive firm, if economic profits exist, how will this impact the number of firms in the industry? if economic losses exist? what will long-run economic profits be for the perfectly competitive firm?
Perfectly competitive firms are called price takers because pressure from competitors forces them to accept the prevailing equilibrium price in the market. In a highly competitive market, if a company raises the price of its product by even one cent, the company loses all its sales to its competitors.
Competitive markets create competition among consumers. This means that one consumer is competing with another for goods and services, especially for declining inventories. For example, when purchasing tickets to sporting events or music concerts, consumers often compete for the best seats.
A company seeks to maximize total revenue minus total cost profit in a highly competitive market. Average revenue is the total revenue divided by the quantity sold (quantity produced). Average turnover tells you how much the company has in terms of typical units sold. (Total sales is price x quantity).
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Suppose you write 44 put option contracts with a $70 strike. The premium is $2.40. Evaluate your potential gains and losses at option expiration for stock prices of $60, $70, and $80.
The correct option = 10560
If the price moves in your favor and the spot price at expiration is less than the strike price, you should sell your put option. However, writing a put option means that you are selling the right to do so to another party.
Profit will be made at any price higher than the strike price.
If the price rises above the strike price, the option buyer will not exercise the option.
Amount of premium received =number of put options written * premium *100 [put option contract comprise of 100 shares]
= 44 *2.4 *100
= 10560
Put Option Payoff:
A put option on a stock gives the holder the right to sell shares of that stock to the option writer. Because the selling price is fixed, the lower the market price, the higher the payoff for the option holder.
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The multiplier effect suggests that Not yet Wswered Select one a. spending $1 increases GDP by more than $1. Marked out of 1.00 Flag b. spending $1 increases GDP by less than $1. C. spending $1 decreases GDP by less than $1. question d. spending $1 decreases GDP by more than $1.
Tax multiplier amount = -9.00.Real GDP changed or increased by $9 billion. Less than $1 billion in spending would be required by the government. The explanation is that the tax multiplier's absolute value is bigger than the expenditure multiplier's absolute value, which is 10.
MPC = 1 - 0.90 = 0.10 MPS = Marginal Propensity to Save = 1 MPC = 1 - 0.90 = 0.10
As a result, we have:
The tax multiplier is equal to MPC / MPS, which is 0.90 / 0.10, or -9.00.Reduced tax X=-$1 billion
Tax multiplier equals -9.00.
Amount of change or growth in real GDP equals a decrease in taxes, multiplied by a -$1 tax multiplier.Multiplier for expenses = 1/ MPS = 1/ 0.10 = 10Real GDP growth is equal to the change in government spending multiplied by the expenditure multiplier (1). Solve for by substituting the appropriate values into equation (1). Government spending has changed.We possess.Change in government spending of $9 billion $9 billion / 10 = $0.90 billion in changes to government spending in one year.Given that the expenditure multiplier produced a change in government spending of $0.90 billion, this suggests that less than $1 billion in expenditures would be required.
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which of the following statements are true for both monopolistically competitive markets and monopoly markets? check all that apply. firms can earn positive profit in the long run. firms are not price takers. price equals average total cost in the long run. firms earn zero profit in the long run.
According to the claim, monopolistic competition makes others believe that its product is superior.
Why do you use the word "market"?Market: A mechanism whereby buyers and sellers come into touch with one another, both directly and through intermediary agents or organizations, and supply goods and services.
What does a company' market entail?A bazaar is a process in which the parties come together to transact business. Markets might be real-world, like a physical store, or digital, like an online merchant. The black market, the auctions market, as well as the financial market are more examples.
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The complete question is-
Which of the following statements are true about both monopolistic competition and monopolies?
a. Price equals average total cost in the long run.
b. Price is above marginal cost.
c. Firms are not price takers.
d. Firms can earn positive profit in the long run.
When sellers exit a market in which the average seller has losses, what results?
A. The market demand shrinks as consumers avoid struggling sellers.
B.The losses shrink or disappear as the market demand is spread over a smaller number of sellers.
C. The sellers that exit avoid the losses that the remaining market sellers continue to suffer.
D. The remaining sellers have higher demand but also face cost curves that shift upward.
Option B. The losses shrink or disappear as the market demand is spread over a smaller number of sellers. When sellers exit a market, the remaining sellers benefit from the reduced competition. This means that the market demand is spread over a smaller number of sellers, which results in the losses shrinking or disappearing.
Benefits of Sellers Exiting a MarketThe reduction in competition that results from sellers exiting a market has the potential to benefit the remaining sellers in the form of increased demand and lower losses. By reducing the number of sellers, the market demand is spread over a smaller number of sellers, which can lead to a reduction in losses. This can be beneficial to the remaining sellers, as they now face cost curves that do not shift upward and can enjoy higher demand.
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you have experienced issues with students losing focus and not being able to find information online that they had previously found. what can you do to help your students improve their online research productivity?
You can teach the children to search for history or bookmark the information that they want to use later.
While researching, a student might lose focus and has trouble in getting information from the internet that he might have previously researched.
In order to help students to retrieve searched information, you can teach the children to visit history from the search engine that they were previously using. By viewing the history, they can search to improve their research productivity.
You can also teach the children to bookmark the pages online that they want to retrieve later. By doing so, they will be able to mark the pages whose content they want to research and use later.
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which, if any, of the following statements is correct? select one. c corporations have unlimited liability. sole proprietorships offer limited liability. question 3 options: a. 1 only b. 2 only c. both 1 and 2 d. neither 1 nor 2
Corporations have limited liability whereas the sole proprietorship offers unlimited liability.so neither 1 nor 2.
what is Liability?
According to the definition of a liability in financial accounting, a liability is the obligation an entity has to forgo future financial gains to other entities as a result of previous transactions or other past events, the resolution of which could lead to the transfer or use of assets, the rendering of services, or other future financial gains.
Financial accounting liabilities might be based on equitable duties or constructive obligations rather than having to be legally enforceable. A responsibility based on moral or ethical principles is referred to as an equitable obligation. Contrary to an obligation that is founded on a contract, a constructive duty is one that is suggested by a particular combination of circumstances.
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A foreign subsidiary of Thun Corporation has one asset (inventory) and no liabilities. The functional currency for this subsidiary is the yuan. The inventory was acquired for 100,000 yuan when the exchange rate was $0.16 = 1 yuan. Consolidated statements are to be produced, and the current exchange rate is $0.12 = 1 yuan. Which of the following statements is true for the consolidated financial statements?
Multiple Choice
A remeasurement gain must be reported.
A positive translation adjustment must be reported.
A negative translation adjustment must be reported.
A remeasurement loss must be reported.
Following statements is true for the consolidated financial statements A negative translation adjustment must be reported.
Consolidated monetary statements are monetary statements that gift the assets, liabilities, equity, income, fees and coins flows of a determine and its subsidiaries as the ones of an unmarried monetary entity. A consolidated monetary announcement is a monetary announcement of a determine organization and all its divisions or subsidiaries.
A consolidated monetary announcement is regularly used via way of means of the Financial Accounting Standards Board withinside the context of a organization that has a collection of enterprises. While getting ready a consolidated monetary announcement, the determine organization's monetary statements and its subsidiaries should be mixed line via way of means of line via way of means of totaling collectively comparable objects inclusive of assets, liabilities, income, and fees.
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fundamental questions of justice arise because employees are subject to considerable harms from a lack of security in their jobs and do not have much power to create security.
True - fundamental questions of justice arise because employees are subject to considerable harm from a lack of security in their jobs and do not have much power to create security.
Employment is a courting between two parties regulating the availability of paid labour services. generally based totally on a agreement, one birthday celebration, the agency, which is probably a company, a not-for-earnings corporation, a co-operative, or any other entity, will pay the other, the employee, in go back for carrying out assigned paintings.[1] employees paintings in go back for wages, which can be paid on the idea of an hourly price, by way of piecework or an annual income, depending on the type of work an employee does, the triumphing conditions of the world and the bargaining power among the parties.
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cole is the vice president of hair beware corp., which provides hair transplant services. he is approached by a company called lasers, inc. which manufactures a new special laser, and is told that if he gets the board of directors to approve the laser manufacturer that he will get 10% of any profits from the new contract with lasers, inc. this contract could result in hundreds of thousands of dollars in personal profit for cole each year. if cole agrees to the deal, then he has violated:
Group of answer choices
His fiduciary duty for personally voting to approve the deal
His fiduciary duty of responsibility to the corporation
His fiduciary duty not to act negligently
His fiduciary duty of loyalty to the corporation
If Cole agrees to the deal, then he has violated his fiduciary duty of loyalty to the corporation.
The obligation of loyalty, which is sometimes referred to as the fundamental rule governing fiduciary relationships, is especially rigorous under the law of trusts.
In that sense, the phrase refers to a trustee's obligation to administer the trust in accordance with its provisions and only with regard to the interests of the beneficiaries. A trustee is normally prohibited from taking part in activities that might result in self-dealing or even the appearance of a conflict of interest. A fiduciary must also deal with openness with regard to important information they have learned through dealing with beneficiaries.
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