The strength to act or to compel another entity to act is called power.

a. true
b. false

Answer: a. true

Business

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Which of the following corporate characteristics is a disadvantage of a corporation?

A) Stockholders have limited liability. B) A corporation has a continuous life. C) There is no mutual agency between the stockholders and the corporation. D) Earnings of a corporation may be subject to double taxation.

Business

Hilltop Golf Course is planning for the coming golfing season

Investors would like to earn a 10% return on the company's $50,000,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $32,000,000 for the season. About 500,000 rounds of golf are expected to be played each year. Variable costs are about $17 per round of golf. Hilltop golf course has a favorable reputation in the area and, therefore, has some control over the sales price of a round of golf. Using a cost-plus pricing approach, what sales price should Hilltop charge for a round of golf to achieve the desired profit? A) $64 B) $81 C) $47 D) $91

Business