The board of directors of a corporation: multiple choice do not have the power to bind the corporation to contracts, due to lack of mutual agency. may not also be executive officers of the corporation, due to the separate entity principle. are responsible for day-to-day operations of the business. are elected by the corporate registrar. are responsible for and have final authority for managing corporate activities.

The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. accounts receivable $ 435,000 debit allowance for doubtful accounts 1,250 debit net sales 2,100,000 credit all sales are made on credit. based on past experience, the company estimates 1.0% of credit sales to be uncollectible. what adjusting entry should the company make at the end of the current year to record its estimated bad debts expense

rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is

At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58