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nordsb [41]
3 years ago
9

Theresa and Bobbi bought a racecar together. They agreed to share all expenses and split net profits equally. There was no agree

ment as to the duration of the partnership. After about a year, Bobbi decided she was tired of the racing business and left the partnership. Bobbi did not violate the partnership agreement. Theresa claims Bobbi's leaving was wrongful. Is Theresa correct?
Business
1 answer:
mestny [16]3 years ago
5 0

Answer:

<em>No she is not, a partner has the right to quit the partnership at any moment in a partnership at will. </em>

Explanation:

General partners get the option and ability to leave the joint venture at whatever moment, whereas limited and restricted partners are only allowed to leave the partnership in accordance with the terms of the partnership agreement.

Bobby is in accordance with the law to leave whenever, and hasn't broken any agreement.

Whenever a general or limited partner chooses to leave the joint venture, the business continues to remain unless it has been agreed by all partners to dissolve.

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If Shawn can produce donuts at a lower opportunity cost than Sue, then ____
Archy [21]

Answer:

(A) Shawn has a comparative advantage in the production of donuts.

Explanation:

Shawn renounce to less goods than Sue when producing donuts.

This meas, Shawn has a comparative advantage in the production of donuts as their cost from the economic point of view are lower.

This do not imply that Sue cannot outproduce Shawn, it means it cost her more than Shawn

For example, if Sue produce 10 Donuts, but to produce donuts resing to produce 20 of other goods, each donut has an opportunity cost of 2

While Shawn can produce 8 donuts and resing to produce 8 of other goods:

each donut has an opportunity cost of 1

Therefore, is better for the overall economy to Shawn produce donuts and trade with Sue for the other good.

4 0
3 years ago
On December 31, 2017, Ivanhoe Company had $1,313,000 of short-term debt in the form of notes payable due February 2, 2018. On Ja
gizmo_the_mogwai [7]

Answer:

They should be reported in 2 different parts, first under current liabilities as:

  • Notes payable $269,000

Then under long term liabilities:

  • Notes payable expected to be refinanced $1,044,000

Explanation:

the total short term notes payable on December 31 = $1,313,000

  • $1,044,000 were paid off by issuing common stocks, so that portion of the debt must be reported as notes payable expected to be refinanced (or refinanced debt)
  • the remaining $269,000 which were paid using cash reserves must be reported as current notes payable

5 0
3 years ago
You have two job offers. Alpha Firm offers a salary of $40,000 per year with no bonuses, while Beta Firmoffers a base salary of
ozzi

Answer:

$40,000 per year; $37,500 per year; $40,000.

Explanation:

From the question above, we are given the following parameters; Alpha Firm offers a salary = $40,000 per year + no bonuses, "Beta Firm offers a base salary of $35,000 per year with a 25% chance that you will receive an annual bonus of $10,000".

So, to answer the question,the expected salary of working for Alpha Firm will surely be = $40,000 per year.

At Beta Firm the expected salary is = $35,000 + 0.25($10,000) = $37,500.

Therefore, if I was risk neutral, the expected value of the year bonus offered by Beta Firm would need to be at least $40,000 for me not to be indifferent to the choice between the two options.

4 0
2 years ago
The transaction demand for money is very closely associated with money’s use as a
strojnjashka [21]
The transaction that uses money is clearly associated with money being used as payment. The money here is used as medium of exchange, as a storage of value, and also as a unit of account. One of the major uses of money is that it facilitate transactions. 
6 0
3 years ago
Crane Company issues $310,000, 20-year, 7% bonds at 102. Prepare the journal entry to record the sale of these bonds on June 1,
Volgvan

Answer:

The Journal entry is as follows:

On June 1, 2022

Cash A/c                        Dr. $316,200

To Bonds payable A/c                              $310,000  

To Premium on Bonds Payable A/c         $6,200

(To record the sale of these bonds on June 1, 2022)

Workings:

cash = $310,000 × (102 ÷ 100)

        = $310,000 × 1.02

        = $316,200

Premium on Bonds Payable = $316,200 - $310,000

                                               = $6,200

8 0
3 years ago
Read 2 more answers
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