Tristan asks : how does a person cease to be a member of a company?
Q: iggy, owner of Jaguar Security Agency offers security services unto Honest Industries Co. of which…
A: The contract refers to the legal form of agreement between parties that reflects the duties and…
Q: Recently, ABC Ltd learned that one of its own minority shareholders registered a new company and was…
A: Minority shareholders are equity holders in a company who do not have voting power because they…
Q: Bagi company is private and wants to go public, before it go public thus joining the Ghana Stock…
A: Private Company section- 2(68) AMMENDMENT ACT ,2015 A private company is a company having minimum…
Q: Which of the following people would not be considered an “Other Member” (OM) for Code of…
A: The term "Other Member" refers to individuals who are not engaged in the practice of public…
Q: A real person (Ahmet) owns some shares of a publicly traded company (Asia AŞ). Ahmet wants to make a…
A: Companies issue shares in order to make raise the funds by way of equity method. Under it the holder…
Q: Tim, a member of a company desired to put forward a resolution about changing the director of the…
A: A company is a legal entity that is formed by operation of law. Fiji corporations are governed by…
Q: Only if the business has more than one shareholder is it required to account for business…
A: The Answer
Q: Can the taxpayers claim a capital loss on the XYZ stock they sold? If so, how much may they deduct…
A: Capital loss is the loss which has been incurred by the taxpayer during the year which has been due…
Q: Nelson is Organic Coffee Company's majority shareholder. Nelson decides to sell his Organic Coffee…
A: A majority shareholder is a person or entity, who owns more than 50% of the State in the company and…
Q: Indicate which activities of Stockton Corporation violated the rights of a stockholder who owned one…
A: The company raises the finance from various sources, one of them is common stock. The investor who…
Q: What is Jenna’s basis in TOBY, INC. stock? Does Ollie have income, gain , or loss on the…
A: The basis of anything for tax purposes is the worth of the asset that will be recorded for tax…
Q: Tristan is thinking about purchasing stock in a corporation. Specifically, Tristan has asked you to…
A: The answer:
Q: Robert is the CEO of a closely held business, and he would like to provide life insurance to all of…
A: Cash Value Life insurance : It is the cash amount offered to the policy holder by issuing the life…
Q: Jack is considering incorporating and asks for advice. Which of the following is not a major concern…
A: Incorporation involves filing specific documents with the appropriate government authorities,…
Q: If you were only allowed one, which of the five statements would you select to determine whether or…
A: Income statement are prepared for assessing a company's financial performance over the specific…
Q: While meeting with a CPA, a new business owner finds out that the business is considered a…
A: A business entity is a set-up for doing business activities and every business has some goal vision…
Q: Ethical Considerations. Are poison-pill defenses ethical? If a potential acquirer buys company stock…
A: While taking business decisions, business ethics play an important role. Business ethics means right…
Q: Tarun has decided to roll out his own startup and plans to register a One Person company. Inform him…
A: One-person company (OPC) refers to a company that is being formed by a single person who is the only…
Q: which type of organization should be formed. Sharif, Henry, and Korb want to start a tech firm. They…
A: Limited liability: This is one of the distinct features of a corporation that describes that, the…
Q: Umar applied to a company to buy some shares in April and paid a deposit. He didn't hear anything…
A: Financial Management: Financial management comprises of two words i.e. Finance and management.…
Q: The preemptive right allows common stockholders to: Group of answer choices vote for the board of…
A: Its purpose is to maintain the proportionate ownership of existing stockholders when new shares are…
Q: Rashmi has heard about shares and debenture but she is confused in between both terms as you are…
A: Shares represent ownership of the company. The company gets capital but in return provides the…
Q: Which of the following statements are true regarding corporations? (You may select more than one…
A: Corporation is the type of entity in which owner's are called shareholder's and there are so many…
Q: You are the CEO of a company that has been the subject of a hostile takeover. Thibeaux Piques has…
A: Share buy back- Under this type of transaction, a company buy back its own shares from the share…
Q: You are a CPA working with sole proprietors. Several of your clients are considering incorporating…
A: The Sole proprietorship indicated the business entity by an individual owner where the owner cannot…
Q: Note: Explain why it is unfair and unethical. How does this affect the shareholder’s control Gree…
A: Corporation - An organization that has been registered as a corporation under a corporation act has…
Q: What is a shareholder's basis in S corporation stock received for services rendered? - The average…
A: Refer explanation for conclusion to correct answer In accounting terms, shareholders start with an…
Q: What is the control requirement of § 351? Describe the effect of the following in satisfying this…
A: Sec. 351 allows a tax-free incorporation transfer if: a. The property must be transferred to a…
Q: Jack is a board member of firm A but is not an employee of firm A; Jack is a senior executive from…
A: Both executive and non-executive directors are members of the board but the non-executive director…
Q: f the utility stock purchased their shares through an online brokerage, whereas Tony and the owner…
A: From this clue, we can say that Anita is not the owner of the utility stock and Tony is not the…
Q: Which of the following actions would the Board of Directors have to have a shareholder vote in order…
A: Shareholders have not just the right to receive dividend, but they have the right to vote for…
Q: Mr. Ali started business with a small amount of capital and he is responsible for all his losses and…
A: Sole proprietor: It is an individual who owns and manages the business on his own. He is the sole…
Q: Kelley wants to purchase shares in Classic Kars, Inc., but is torn between buying shares of common…
A: Preferred Stock is those stocks that enjoy preference over dividend over the common stock at the…
Q: In the wake of acquiring his shares, you're asked by Tristan to explain to him what a member's…
A: The Answer
Q: Tammy comes home from her day job and usually spends a couple of hours every evening “managing” her…
A: Step 1 Trading is not a commercial operation, according to the Internal Revenue Service (IRS).In…
Q: Write an e-mail to a cli
A: Partnerships are typically governed by a partnership agreement, which outlines the rights and…
Q: Kelvin is considering buying shares in a company. Kelvin asks you to explain to him what is meant by…
A: Member An individual who subscribes to the MOA on the acceptance of the company by signing the MOA…
Q: Which is true about corporations? 1. Managers almost always own shares in the corporation they…
A: Common shareholders rights include: Right to access financial records Right to sue for wrongful…
Q: A local clothing shop has been operating as a proprietorship. The business is growing and now the…
A: The easy to do and costs very little time and money is not a reason for the owner to incorporate.
Q: Bailey's dream is to open a chain of salons. She hopes to attract investors to help finance growth.…
A: Limited liability partnership is the type of partnership where the liability of the partners is…
Q: Robert and Charles are trying to decide what form of business to form for their new company. They…
A: Please fallow the answer below: Solution: The transfer of a corporation to an LLC is regarded as a…
Q: Which of the following statements are true regarding dividends? (You may select more than one…
A: Dividends are considered as the distributed part of the net income of corporate form of…
Tristan is considering buying shares in a company. Tristan asks you to explain to him what is meant by the terms ‘member’ and ‘shareholder’, and the different ways in which a person may become a member. He also asks you to explain who may be eligible to become a member, and how many members a company is permitted to have. Finally, Tristan asks : how does a person cease to be a member of a company?
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Which of the following represents one of the basic rights of stockholders? a. Stockholders may sell their stock back to the company if they wish. b. Stockholders may authorize a business contract on behalf of the corporation. c. Stockholders may determine at what price the company issues stock. d. Stockholders may participate in management by voting on corporate matters.A large, listed business has become the target of a shareholder activist. What steps should the board of directors take in response to this event?Kelvin is considering buying shares in a company. Kelvin asks you to explain to him what is meant by ?he ?erm? ?member? and ??hareholder?? and ?he differen? ?a?? in ?hich a person may become a member. He also asks you to explain who may be eligible to become a member, and how many members a company is permitted ?o ha?e? Finall?? Kel?in a?k? ?How does a person cease to be a member of a company??Required: Advise Kelvin.
- : Umar applied to a company to buy some shares in April and paid a deposit. He didn’t hear anything from company until November when company sent him a letter of allotment as acceptance and a request for the balance. By this time, Umar had changed his mind and no longer wanted the shares. Question a.Is Umar bound to buy the shares? Why or why not?After purchasing his shares, Tristan asks you to explain to him what the register of members is, what information is in that register, and whether all companies must keep one. Tristan is quite fascinated by the existence of a register and asks you whether he can inspect the one his details are recorded on and, if so, where can he find it. Tristan confides in you that if he can get access to the personal details of all his company’s members, he could then sell that information to commercial call centres and socio-economic survey research companies. Also, Tristan cannot understand why the court has sole power to correct any errors made on entries into the members register. Advise Tristan. specify ASIC ruleswhich type of organization should be formed. Rob and Bran want to form a snow removal business. They are deciding between a general partnership and a limited liability company. Bran says it is important that the two have limited liability and do not pay corporate income taxes.
- You are offered a job you know that accepting this job may eventually lead to a promotion into the role of the financial manager. As the potential financial manager, what federal and shareholder requirements would you need to be familiar with in order to ensure that you are being completely compliant? While investigating the shares offered to you by your potential boss, you discover that the company you are considering working for is not registered as required under the Securities Act of 1933. How does this influence you as a potential employee and as a potential shareholder relative to any applicable statutes or laws?Eric is interested to invest in shares. However, he realizes there would be a risk if he invests in only similar industry. Identify and explain the concept that Eric should apply to encounter this risk.Which of the following statements are true regarding corporations? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. 1. It does not end with the death of an owner. 2. Owners are personally liable for corporate debts. 3. Stockholders do not have the power to bind the corporation to contracts. 4. The president and vice presidents choose the board of directors. 5. It has many of the same rights as an individual. 6. The sale of shares from one stockholder to another does not impact operations. An exception is when it changes the makeup of directors. 7. Corporations are often subject to fewer regulations than partnership.
- Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) ? Corporate income that is distributed to shareholders is usually taxed twice. ? Corporations are often subject to fewer regulations than partnerships. ? The sale of shares from one stockholder to another does not impact operations. An exception is when it changes the makeup of directors. ? It has many of the same rights as an individual. ? It does not end with the death of an owner. ?Stockholders are expected to hire and fire key executives. ? The president and vice presidents choose the board of directors.Why the maximization of shareholders wealth overrules the objective of maximizingearnings?b) How does being a limited partner in a business enterprise differ from being a stockholder,assuming the same percentage of ownership?c) If you are scheduled to receive a certain sum of money five years from now but wish tosell your contract for its present value, which type of compounding would you prefer tobe used in the calculation? Why?d) John Selvester is 47 years old and is presently experiencing the “good” life. As a result,he anticipates that he will increase his weight at a rate of 4 percent a year. At present heweighs 250 pounds. What will he weigh at age 60?e) Allen wishes to purchase an annuity contract that will pay him $8,000 a year for the restof his life. The State Life Insurance Company figures that his life expectancy is 25 years,based on its actuary tables. The company imputes a compound annual interest rate of 6percent in its annuity contracts. How much will Allen have to pay…Which of the following statements are true regarding corporations? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. It has many of the same rights as an individual. The sale of shares from one stockholder to another does not impact operations. An exception is when it changes the makeup of directors. Stockholders are expected to hire and fire key executives. It does not end with the death of an owner. Corporate income that is distributed to shareholders is usually taxed twice. Corporations are often subject to fewer regulations than partnerships. The president and vice presidents choose the board of directors.
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)