Answer:
a. According to UPA Section 6, a partnership is
“the association of two or more persons to carry on as co-owners a business for profit…whether or not the persons intend to form a partnership.”
b. "Association" means coming together to act as one.
c. Yes. They qualify as forming an "association."
d. Yes. The situation involved in the case involves "two or more persons."
e. Yes. The situation in the case involves a business being carried on for profit.
f. When we say the partners must be co-owners, it means that the "two or more persons" are joint owners. Each partner owns a part of the entity.
g. The four elements of the definition of a partnership are met. This implies that the two corporations could form a partnership under the UPA or the Revised UPA (RUPA).
Explanation:
The act clearly identified that a partnership must have two or more persons coming together to carry on the business for profit as co-owners. The implication is that there are four elements that must be met for an entity to be declared a partnership. They include: "association," "two or more persons," "carry on a business for profits," and "as co-owners."
The mutual benefit that the American Clothing Company derives by partnering with a Chinese Manufacturer comes because <u>E. It is</u> an example of counter-trading ...
<h3>What is Counter-trading?</h3>
Counter-trading occurs when goods or services are exchanged for other goods or services rather than for hard currency. It is a reciprocal form of international trade in which, for example, the American Clothing Company brings in its technology while the Chinese Manufacturer provides cheap labor and other resources.
<h3>Answer Options:</h3>
A. It is a strategic alliance in which two countries share the risks and rewards of starting a new enterprise together in a foreign country.
B. It is a wholly owned subsidiary in which a foreign subsidiary is totally owned and controlled by an organization.
C. It is a greenfield venture in which owning the organization has been built from scratch.
D. It is an example of a franchise in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company’s brand name and a package of materials and services.
E. It is an example of counter-trading in which the country is bartering for goods.
Thus, the counter-trade between these companies is mutually beneficial because of <u>Option E</u>.
Learn more about counter-trading at brainly.com/question/14659049
<span>A decrease in consumption and a decrease in GDP is likely to happen. The GDP is known as the gross domestic product. This is a monetary measure of the market value of all final goods and services that are produced over a time period.</span>
Answer:
$56,703
Explanation:
P=R(1-(1+i)^-n/i
Where P=500,000
R=?
i=10%
n=15
500,000=R(1-(1+.1)^-15/.1
R=500,000/7.61
R=$56,703
Answer:
How much net income (or net loss) did Sommer experience for the year?
$11000
Explanation:
earning 280000
Expenses salaries 159000
Expenses rent 85000
Expenses Utilities 25000
Net Income 11000
