Critically evaluate the following autonomous cases : For each case , determine whether APES 110 has been breached and explain your answer. (a) Kelly Brown, sole proprietor of an audit firm, plans to establish a separate business that will provide management consulting services. She intends to operate both businesses simultaneously.
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Critically evaluate the following autonomous cases : For each case , determine whether APES 110 has been breached and explain your answer.
(a) Kelly Brown, sole proprietor of an audit firm, plans to establish a separate business that will provide management consulting services. She intends to operate both businesses simultaneously.
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- Mr Abuhas set up a Limited Liability company as a retail business. He employed a Managing Director to manage the affairs of the business. The managing Director openvacancies and employed several subordinates into the company to work under him. Two years down the line,The MD resigned from the company and one of the employees was promoted as the New MD. During the First MD regime, Sales staffs were meeting their targets over and above expectations but as soon as the New MD assumed his position two Sales staffs resigned and hence sales within the first term ofh is office fell 15%. a.What type of people do you think he employed? b.What challenges do you think the new MD will face? c.What should the new MD do? d.As as staff of the company, what will you feel or think? e.What type of leader is the new MD?Mr Abuhas set up a Limited Liability company as a retail business. He employed a Managing Director to manage the affairs of the business. The managing Director openvacancies and employed several subordinates into the company to work under him. Two years down the line,The MD resigned from the company and one of the employees was promoted as the New MD. During the First MD regime, Sales staffs were meeting their targets over and above expectations but as soon as the New MD assumed his position two Sales staffs resigned and hence sales within the first term ofh is office fell 15%. 1.What should the new MD do? 2.As as staff of the company, what will you feel or think? 3.What type of leader is the new MD?SECTION D Read the following extract and then answer the question belowA client is interested in setting up a business and does not know which form of business to use. He has been told that he can form a sole proprietorship, or partnership, or a limited liability company. He comes seeking for business advises on the advantages and disadvantages of a registered company. Make a comparison between a sole proprietorship, partnership, and a limited liability company.
- The insured is covered under O.A.P. 1 Owner’s Policy including Direct Compensation-Property Damage and is involved in an accident in Ontario with an automobile, for which he/she is not at fault. His/her car is severely damaged and personal belongings in the car are destroyed. Which one (1) of the following statements is correct? O A) Damage to the insured's car and reimbursement for a rental vehicle are covered by the third party’s policy. O B) Damage to the insured’s car, replacement of destroyed personal belongings and reimbursement for a rental vehicle are covered by the insured’s policy, less the policy deductible. O C) Damage to the insured’s car, replacement of destroyed personal belongings and reimbursement for a rental vehicle are covered by the third party's policy. O D) Only damage to the insured’s car and reimbursement for a rental vehicle are covered by the insured's policy.During the year ended December 31, 20X1, Greenacre Hospital received the following donations stated at their respective fair values: Essential specialized employee-type services from members of a religious group $100,000 Medical supplies restricted for indigent care from an association of physicians and used for such purpose in 20X1 30,000 How much total revenue from donations should Greenacre report in 20X1? A. $130,000 B. $100,000 C. $30,000 D. $0V1.A retired businessman who owned a track of land was approached by a real estate agent, who is interested to buy his land. The purchase price offered by the agent was above the prevailing fair market value (FMV). The agent wants to develop the land into a commercial area and sell it to the public. The agent discussed the terms and conditions of the deed of sale in detail to the businessman, and the businessman agreed to the deal. Last year, the businessman was diagnosed of dementia by his family doctor, and the agent though was aware of it. Was a contract of sale formed? If yes, is it enforceable? Please state your reasons. 2. Jacky invited her friend, Lourdes, to her house. Lourdes has a beautiful sport car and Jacky is interested and offered to purchase it at a prevail market price or FMV, but Lourdes rejected her offer. Jacky offered Lourdes a bottled of vodka. When Lourdes consumed so much of it, she feels dizziness. Jacky took advantage and offered again to purchase her sport…