Answer:
e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.
Explanation:
The Uniform Partnership Act is a provision that resolves conflicts in a partnership that is not addressed in the partnership agreement.
The Act is used mostly with small and informal partnerships.
It has been adopted in all states except Louisiana.
Partners must settle their debts in order to redeem their interest in the partnership.
UPA provides that partner with deficit contributes personal assets only If those personal assets exceed personal liabilities.
Answer:
<em>A. cannot expect to collect the $500 because he had a preexisting duty to arrest the inmate.</em>
Explanation: An Inmate is a term commonly used to refer to prisoners or persons placed within a confinement. An inmate can also be used to refer persons with mental health challenge who are placed within an enclosure or in a hospital to be attended to.
A Sheriff is a top Law enforcement officer in a county who engages in certain activities like being in charge of prisoners,traffic etc
Answer:
b. capitalized
Explanation:
The purchase price and all costs to bring an asset to its desired condition and location for use should be capitalized.
Answer:
C. Are readily converted to a known cash amount.
Explanation:
Highly liquid short term assets are those which are ready available for conversion into cash. These are also called Liquid assets. Highly liquid investment are made for short term investment interest revenues.
