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A. Harry Ltd is a company and was hurt by a major downturn in the economy. It previously obtained a significant loan from Conway Bank,

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A. Harry Ltd is a company and was hurt by a major downturn in the economy. It previously obtained a significant loan from Conway Bank, and when Harry Ltd was unable to make its loan repayments, the bank made an agreement with Harry Ltd to become involved in the management of that company. Under the agreement between the two entities, Harry Ltd's managers had to obtain authority from the bank for acquisitions over $30 000 and were required to have bank approval for the company's budgets. Assume Harry Ltd is a) not a subsidiary b) is a subsidiary of another entity, Larry Ltd. A. Harry Ltd is a company and was hurt by a major downturn in the economy. It previously obtained a significant loan from Conway Bank, and when Harry Ltd was unable to make its loan repayments, the bank made an agreement with Harry Ltd to become involved in the management of that company. Under the agreement between the two entities, Harry Ltd's managers had to obtain authority from the bank for acquisitions over $30 000 and were required to have bank approval for the company's budgets. Assume Harry Ltd is a) not a subsidiary b) is a subsidiary of another entity, Larry Ltd

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