Unique Corp

question 67

Multiple Choice

Unique Corp. had 50,000 shares of $5 preference share, $100 par, and 100,000 shares of $1 par ordinary share outstanding throughout the year. Profit for the year was $780,000, and Unique declared and distributed a cash dividend of $1 per share on its ordinary share. Earnings per share amounted to:

• A) $7.80.
• B) $1.00.
• C) $5.30
• D) $2.30.

Understand the legal distinctions and implications of contracts with incompetent persons.

Distinguish between necessary and non-necessary goods and services in contracts with minors.

Comprehend the legal outcomes of misrepresentation of age in contract formation and disaffirmance.

Recognize the legal consequences of intoxication on contractual capacity and the voidability of contracts.

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Definitions:

International Brotherhood of Teamsters

A large and influential labor union in the United States and Canada, primarily representing workers in the transportation and warehousing industries.

UPS

United Parcel Service, an American multinational package delivery and supply chain management company.

Early Unions

Labor organizations formed in the past to protect workers' rights, negotiate wages, and improve working conditions.

Labor-Management Relations Act

A law designed to regulate the interaction between labor unions and employers to ensure fair practices in collective bargaining and labor relations.