1. Who owed the taxes? 2. How was the corporate form misused? 3. What injustice would have...
Question:
2. How was the corporate form misused?
3. What injustice would have resulted if Wolfe had not been required to pay?
Charles E. Wolfe was the sole shareholder and president of the corporation, which leased tractor-trailers. Mr. Wolfe also operated a business as a proprietorship . . . which was an “over-the-road” trucking business.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
1 The corporation owed the taxes but the court found ...View the full answer
Answered By
Shehar bano
I have collective experience of more than 7 years in education. my area of specialization includes economics, business, marketing and accounting. During my study period I remained engaged with a business school as a visiting faculty member and did a lot of business research. I am also tutoring and mentoring number of international students and professionals online for the last 7 years.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business Law questions
-
The most recent balance sheet for the Armadillo Dog Biscuit Co. is shown in the following table. The company is about to embark on an advertising campaign that is expected to raise sales from the...
-
The accountant preparing the income statement for Bakersfield, Inc. had some doubts about the appropriate accounting treatment of the seven items listed below during the fiscal year ending December...
-
The most recent balance sheet for the Armadillo Dog Biscuit Co. Inc. is shown in the following table. The company is about to embark on an advertising campaign, which is expected to raise sales from...
-
int Temp [10] = { 22, 30, 40,28,20,60}; For the above code, answer the following questions i) Find the size of Temp array. ii) How many memory locations are present in Temp array ? iii) Find the...
-
What is meant by arbitrage profits?
-
A company has $ 1 8 0 , 0 0 0 in fixed costs and sells a single product at $ 3 0 per unit with a contribution margin of $ 1 0 per unit. The company broke even this year. What was the company's sales...
-
Figure P26.14 is a graph of the electric field between two capacitor plates as a function of distance from the left plate. The distance between the plates is \(d\), the direction of the field is to...
-
Blue Lagoon Corporation is projecting a cash balance of $31,000 in its December 31, 2011, balance sheet. Blue Lagoons schedule of expected collections from customers for the first quarter of 2012...
-
The video about sign language demonstrated: A . Most sign languages are very similar. B . All sign languages use the same gesture for the word "what". C . English - speaking countries use the same...
-
Following is information on two alternative investment projects being considered by Tiger Company. The company requires a 6% return from its investments. Initial investment Net cash flows in: Year 1...
-
1. What was the issue in this case? 2. The Cubs added lights in 1988. How could the board be meeting its duty of due care both in the 1960s by not erecting lights and in the 1980s by doing so?...
-
1. a. Why was Roses work for Right Away Foods considered a violation of the partnership agreement? b. Why did Roses after-hours argument fail? 2. Could Rose operate a gas station without violating...
-
Included in Outkast Companys December 31, 2025, trial balance are the following accounts: Prepaid Rent $5,200, Debt Investments (to be held to maturity until 2028) $56,000, Unearned Fees $17,000,...
-
Dont ever tell yourself, that wont happen to me. Just ask Cynthia Cooper, former Vice President of Internal Audit at WorldCom. Cynthia Cooper was a typical accounting student as an undergrad at...
-
An entrepreneur by the name of Matt Franklin recently entered into a new venture involving ownership and operation of a small, 18-room motel and cafe. The motel is located in a remote area of...
-
Suppose you are measuring annual U.S. GDP by adding up the final value of all goods and services produced in the economy. Determine the effect on GDP of each of the following transactions. a. A...
-
Suppose that an economy shows only the following activities in a specific year: i. It costs an automobile manufacturing company \( 10\) million to assemble 5,000 cars. The cars are then sold to...
-
Label each of the following statements true, false, or uncertain. Explain briefly. a. The largest component of GDP is consumption. b. Government spending, including transfers, was equal to \(18.1...
-
Combine like terms. n 4 - 2n 3 + n 2 - 3n 4 + n 3
-
The following data are supplied for the common stocks of Nikola Corporation, Tesla, Inc. and General Motors: Nikola Corp (NKLA) Tesla Inc. (TSLA) Close Price ($) Close Price ($) 67.53 30.00 40.81...
-
What are the main sources of randomness in the contemporary criminal justice system?
-
Do you think that this randomness discourages or encourages crime?
-
Opponents and proponents of capital punishment deny that their beliefs depend on the presence or absence of deterrence effects, 73 yet Ehrlichs study provoked intense debate and outrage. What do...
-
The fact that restrictive covenants are widely used does not mean, as NanoMech, Inc. v. Suresh shows, that they are always enforceable. NanoMech, Inc. v. Suresh 777 F.3d 1020 (8th Cir. 2015) OPINION...
-
What are the fundamental distinctions between prokaryotic organisms and their eukaryotic counterparts, particularly concerning cellular structure and organizational complexity?
-
What are the structural and biochemical features of prokaryotic cell membranes and cell walls, and how do these components contribute to cellular integrity, homeostasis, and environmental...
Study smarter with the SolutionInn App