Explain the concept of separate legal entity and the corporate veil In what circumstances may the veil be lifted by the Court Provide case examples in your answer (10 marks) Part b) 5 marks Can a company become liable under a corporate contract even when they did not authorise the transaction Expl...

a The concept of a separate legal entity refers to the principle that a company is a separate legal entity from its shareholders directors and officers This means that a company can sue and be sued in ...

Explain the concept of separate legal entity and the corporate veil. In what circumstances may the...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

See More Books

Posted Date: Feb 22, 2023 07:27 AM

See More Questions

In what circumstances may an employee be terminated?
Can you explain the concept of gap management?
Explain the concept of virtualization. Describe at least one type of virtualization that is being used in IT shops today. Why is virtualization becoming important?
Class Median Midpoint, x Income, I 19.5 $12,965 An individual's income varies with age. The table shows the median income I of individuals of different age groups within the United States for a...
Current thinking has managers trying to eliminate their stocks. This has been assisted by just-in-time operations, e-business, efficient customer response, point-of-sales equipment, electronic fund...
Mia's income is $35,000 for last year and $36,000 for this year. The money purchase limit is $23,820 for last year and $24,270 for this year. For both years, PA adjustment works out to 16.2857% of...
For each of the following situations, calculate the population standard error of the mean $\sigma \mathrm{X}^{-}$. a. $\sigma=18 ; N=36$ b. $\sigma=9.42 ; N=49$ c. $\sigma=1.87 ; N=60$ d....
Prepare a comprehensive report for Mario in which you outline and analyze the possible revenue models that ASIB might use for its Web site. You should address the two journals as separate issues....
A girl delivering newspapers covers her route by traveling 8.66 blocks north, 3.28 blocks west, and 4.00 blocks south. Find the angle (a positive value in , between 0 and 360) of her resultant...
Two identical particles, each having charge #q, are fixed in space and separated by a distance d. A third point charge -Q is free to move and lies initially at rest on the perpendicular bisector of...
A D E F H K 1 Group assignment 2: How to manage/hedge recievable. 2 Huntsman Corporation uses a variety of Forex hedging strategies. In 2018, the company disclosed is has $581 million in Euro...
Listed below are the stock returns for BETA Corp from years 2007-2021: Rate of Return BETA CORP 11.25 7 14 2.55 8 13 3 6 10 3.5 8.15 4 7.5 4.75 7 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016...
Songsu Company is struggling to control costs. We are hired as consultants to determine why the company's actual costs exceed budgeted costs. The Tableau Dashboard is provided for our analysis....
L23 7 5 6 8 9 10 11 12 13 5 14 15 16 17 18 19 20 21 22 23 24 25 26 27 B C D ACTG 382 Excel Homework Assignment #1 Winter 2024 A a. Total contract price Instructions b. Company Background Information:...
Consider the following function: g(x) = 2+ 3xcos(x) 2x+x 1) Write a MATLAB script that (i) prompts the user to enter a numerical vector x, and (ii) uses a for-loop to calculate g(x). 2) Write a...
Consider a user-item dataset where every datapoint consists of information matching user U to an item I. Just as in the previous part, we can represent this with a matrix R where each row corresponds...
Nicolette and Brady own a cabin in Lake Arrowhead, California, that they rent out during the winter and use the rest of the year. The rental property is categorized as personal/rental property, and...
a. Show that the expansion of q(x) in ascending powers of x can be approximated to 10 2x + Bx 2 + Cx 3 where B and C are constants to be found. b. Find the percentage error made in using the series...
What is the implication to the employer and to the employee if the employer delays the payment of remuneration to the employee?
A business that derives its income from selling personal services (plumbing repairs, for example) cannot be viewed as earning active business income. Is this statement true? Explain. How is a...
Why is it that the passive investor in a profitable business venture may receive a higher rate of return if the venture is organized as a limited partnership, rather than a corporation?
Victoria has prepared the following list of statements about corporations. 1. A corporation is an entity separate and distinct from its owners. 2. As a legal entity, a corporation has most of the...
Indicate whether the following items would appear on the income statement (IS), statement of financial position (SFP), or retained earnings statement (RES). a. Dividends. b. Cash. c. Salaries and...
Victoria has studied the information you gave her in that exercise and has come to you with more statements about corporations. 1. Corporation management is both an advantage and a disadvantage of a...

Explain the concept of separate legal entity and the corporate veil. In what circumstances may the...

Question:

Expert Answer:

a The concept of a separate legal entity refers to the principle that a company is a separate legal entity from its shareholders directors and officers This means that a company can sue and be sued in ... View the full answer

Canadian Income Taxation Planning And Decision Making

Students also viewed these accounting questions