Answer:
C. The termination of the firm's legal existence.
Explanation:
General partners are individuals, two or more , who come together to own a business and controls daily activities of the business. Each member has unlimited liability and their action can legally bind the activities of the business. They share profit and losses equally.
According to fact pattern 27-3, if the partners agree to dissolve one of their business line- equity lending as in the case above and the company's assets are shared among the partners, it would result in the termination of the firm's legal existence.
Once there is a breach by any of the partners as contained in the partnership agreement and the partner's asset shared, that is dissolution. The partnership business has therefore been terminated legally and cease to exit.
Answer:
Break Even Point
In Units = 2,000 units
In value = $80,000
Explanation:
Break even Point = 
When we use contribution per unit, we get the break even point in units sales.
When we use the contribution margin as a percentage of sales we get break even sales in value.
Contribution per unit = $20
Contribution margin in percentage = $20/$40 = 50%
Therefore, Break even Point in units = 
Break even units = 2,000
Break Even Point in value = 
Sales to be made in value at break even = $80,000
Answer:
$294,412.8
Explanation:
In order to obtain a seat on the board of directors, Raul must hold more than 50 percent of the total number of outstanding shares if there are three open seats and straight voting occurs.
Total number of shares required = (46,000 ÷ 2) + 1
= 23000 + 1
= 23,001 shares
Market price of share = $ 12.80
Total amount = Total number of shares required × Market price of share
= 23,001 × $ 12.80
= $294,412.8
The amount Raul wants to invest on obtaining a seat on board of directors is $294,412.8
Phil Ruffin bought treasure island
Answer:
1. Commercial banks
2. Life insurance companies
3. Mutual funds
Explanation:
commercial banks
The commercial bank is a financial institution that accepts deposits and offer other services such as giving loans and other basic financial services to both individuals and organisations.
Life insurance companies
The life insurance companies are financial institutions that provide lump sums otherwise known as death benefits to beneficiaries of their policy holders upon their demise, provided that premium is paid on regular basis.
Mutual fund
A Mutual Fund is an investment vehicle made up of a pool of funds collected from numerous investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual Funds are operated by professional fund managers, who invest the fund's capital and attempt to produce capital gains and income for the investors.
One of the main advantages of Mutual Funds is they give small investors access to professionally managed, diversified portfolios of equities, bonds and other securities. Each shareholder, therefore, participates proportionally in the gain or loss of the fund.
