Kwaku, an accountant, prepares a financial statement for Exc

Kwaku, an accountant, prepares a financial statement for Excel Company, a client, knowing that Excel will usethe statement to obtain a loan from First National Bank. Kwaku makes negligent omissions in the statementresults in a loss to the bank. Can the bank successfully sue Kwaku? Why or why not?Mickey Corporation and Mantle Company combine and a new organization, MM, Inc., take their place. Whatis the term for this type of combination?Peppertree, Inc., hired Robert Tido, a licensed contractor, to repair a condominium complex that was damagedin an earthquake. Tido completes the work, but Peppertree fails to pay. Tito is awarded $181,000 in anarbitration proceeding. Peppertree then forms another corporation and transfers all of its assets to the newcorporation without notifying Tito. Can Tito hold Peppertree’s shareholders personally liable for the debt?Why or why not?Kids International Corp. produced children’s wear for Target and other retailers. Marquita Jackson was a Kidsdirector and its chief executive officer. Because she felt that she was not paid enough for the company’s success,shestartedSuccessAppareltocompetewithKids. SuccessoperatedoutofKids’premises,useditsemployees,borrowed on its credit, took advantage of its. Business opportunities, and capitalized on its customerrelationships. As an administrative fee,” Marquita paid Kids 1 percent of Success’s total sales. Did Marquitabreach any fiduciary duties?Accountants must adhere to certain principles and certain standards. Name them.A buyer is in the market when it is ___________, __________, and _____________ to purchase.True or False? In a corporation, the shareholders select the CEO.One can acquire a company by purchasing the company’s ___________ or its ____________.What are the three relationships in business?Board of Directors has rights. What are they?Board of Director has duties. What are they?What is the difference between a merger and consolidation?What Is a short form merger?Name, and explain, two defenses that a company may use to prevent a takeover from another company.