In the Case in the Text,Krupinski V

question 28

Multiple Choice

In the case in the text,Krupinski v.Deyesso,what did the court decide would be improper for it to determine on summary judgment?

• A)Whether a breach of contract occurred between the promoter and the corporation.
• B)Whether a person was actually a promoter.
• C)Whether the promoter breached his fiduciary duty.
• D)Whether the plaintiff was entitled to damages.

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Definitions:

Accounts Payable

Accounts payable is an accounting term for the outstanding bills or debts a company owes to suppliers or vendors for goods or services received.

Operating Cycle

The operating cycle is the amount of time it takes for a company to purchase inventory, sell it to customers, and collect the cash from these sales, reflecting the efficiency of a company's operations.

Accounts Receivable Period

The average number of days that a company takes to collect payments from its credit sales.

Inventory Period

The duration of time it takes for a company to turn its inventory into sales, typically measured in days.