With respect to management decisions a majority of the partners must agree, irrespective of the size of each partner's interest in the partnership.
<h3>What is
partnership?</h3>
A partnership is an agreement in which two or more parties, known as business partners, agree to work together to advance their mutual interests. Individuals, businesses, interest-based organizations, schools, governments, or combinations can form partnerships.
A partnership is a single business owned by two or more people. Each partner contributes to every aspect of the business, whether it's money, property, labor, or skill. In exchange, each partner shares in the company's profits and losses.
The goal of a partnership agreement (or partnership contract) is to create a legally binding contract between two or more individuals or other legal entities in order to establish a business enterprise. This partnership agreement specifies each partner's or entity's rights and responsibilities.
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Answer:
Check the following explanation
Explanation:
a) Goods available for sale = Beginning Inventory + Net Purchases
13500 + 17500 = 31000
Cost of goods sold = Goods available for sale - Ending Inventory
31000 - 8100 = 22900
Gross Profit = Net Sales - Cost of goods sold
26500 - 22900 = 3600
b) Net Income for Krug Service Company = Revenues - Expenses
= 31000 - 10500
= 20500
Net Income for Kleiner Merchandising Company = Gross Profit (Computed Above) - Expenses
= 3600 - 2300
= 1300
Answer:
$12.40
Explanation:
Activity Estimated Indirect Allocation Base Estimated Q. of
Activity Costs Allocation Base
<u>Materials handling $7,700 Number of parts 7,350 parts </u>
<u>Assembling $10,500 Number of parts 7,350 parts </u>
Packaging $2,410 Number of units 1,470 bookshelves
The direct materials cost per bookshelf is $39. What is the cost of materials handling and assembling per bookshelf?
materials handling cost per part = $7,700 / 7,350 parts = $1.05
assembling cost per part = $10,500 / 7,350 parts = $1.43
total cost per part = $2.48
cost per bookshelf = 5 x $2.48 = $12.40
Answer:
The principle in Law 'Nemo dat quod non habet' states that an individual connot give what he does not have
Indeed Tom can rescind the contract with Matthew as he possesses voidable title to the balls
Explanation:
Until consideration has moved from Matthew to Tom the validity of the agreement/Contract remains inconclusive.
Considering his Account is not funded means he has no valid title to the Balls, he is merely in possession of the Balls but not the Owner.
Tom can sue demanding a return of the Balls irrespective of Matthew having sold them to Aaron.
Another illustration could be given of a thief who sells off a property. Inspite of the Buyer being unaware, because the thief has a voidable title it makes the transaction invalid.
I think it’s b but I can’t garauntee I’m sorry
