You are the financial manager of a midsize nonprofit that has just received an endowment of a substantial amount from a longtime supporter. The board members are excited because years of effort have gone into seeking this endowment, and they are expecting that the endowment will mean increased financial stability for the nonprofit in the future. The board members have been distressed by money shortages in recent years caused by donor fatigue and the economic downturn. They do not, however, know how an endowment should be managed. A couple of members have knowledge of accounting and auditing, but no one on the board is an investment expert, and the nonprofit has no experience in endowment investment, given that this is the first endowment the nonprofit has received. You, as the financial manager of the nonprofit, have been asked to take on the responsibility of establishing and managing the endowment (a situation not uncommon in small and midsize nonprofits). You are very happy with the infusion of capital as an endowment, but you take on the role of managing the endowment with some trepidation, knowing how unprepared the nonprofit is for this new financial management task. You want to perform well with the endowment for the mission of the nonprofit, but you do not want to take the blame if the endowment does not achieve excellence, despite your best efforts, because of uncontrollable events such as swings in the market and economic fluctuations. What should you take into consideration and what steps should you undertake if you intend to take on responsibility for the endowment in addition to your other duties?

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Harry buys a toaster. Sally, who is visiting Harry, uses the toaster. Unfortunately, the toaster explodes and Sally is severely burned. Sally sues the manufacturer of the toaster. More than likely Sally will () a. prevail because she is in privity of contract with the manufacturer. [) b. prevail because she is not in privity of contract with the manufacturer. O c. prevail despite the fact she is not in privity of contract. O d. prevail because she is not in privity of contract with the manufacturer.According to the authors of the article entitled "Vicarious Liability: The Legal Responsibility of Employers": Select one: O a. The vicarious liability rule does not instill a sense of social responsibility on the part of employers. O b. All employment contracts should contain hold-harmless or indemnity clauses in favour of the employer because these clauses offer significant protection to employers. O c. The purpose of vicarious liability is to obtain a just and practical remedy for the victim so far as possible and to deter future harm. O d. At least one of the reasons for the vicarious liability rule is that most employees have "deeper pockets" than their employers.which is not a legislative body of the People's Republic of China? A. NPC C. CCA B. SCNPC D. The State Council 4. Who of the following persons have sufficient capacity to settle a contract? A. Minors B. Mentally incompetent persons C. University students above 20 years old D. Intoxicated persons 5. In which of the following circumstances the contracting party has no excuse for non-performance? A, flood B. earthquake C. continuous rainfall D. volcano eruption 6. Who could not be a legal representative of a company according to China's Company law? A. chairman of the BOD B. supervisor C. manager D. acting director 7. According to China's Company law, who of the following persons could be eligible for appointment as a director, supervisor or senior manager of a company? A. A person who has been convicted crime of corruption B. A physical disabled person who has full civil capacity C. A former director of a company which has been declared bankrupt where he was personally responsible for the bankruptcy D. A person who has significant unpaid debts. 8. Which of the following FIE forms is not a legal person? A. CJV B.EJV C. Branch office D.IHC 9. According to China's company law, a company may not purchase its own shares in which of the following circumstances! A. to reduce the registered capital B. to merge with another company that holds its shares C. to reward the staff of the company with shares D. to escape some tax Page 2 7 pages in totalQuestion 4: (A) If you have been hired as company law expert to make immediate changes in the company law. Point out and describe any three (3) major changes, which you will suggest bringing change in law to promote business activities. (Maximum 400 words) (5 Marks) (B) Mismanagement is a severe issue in almost all types of companies. Discuss any three major situations when its existence is formally recognized under company law. Examine a real time example of any company which termed as mismanagement and curbed by law. (Maximum 400 words)