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Alik [6]
2 years ago
6

James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for his father in the partnership

and was well qualified to do the work his father had done. Which statement best describes Frank's rights in the partnership if he inherits the interest?
a. Frank has no rights to his father's partnership interest.
b. Frank is entitled to the value in the partnership, but not to become a full partner.
c. Frank may become a partner only if his father’s will specified such action.
d. Frank has a right to take over for his father in the partnership.
Business
1 answer:
Mashutka [201]2 years ago
5 0

Answer:

B - Frank is entitled to the value in the partnership, but not to become a full partner.

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On Jan 5, a customer returned merchandise that had been purchased earlier on credit. The original sale was for $500, and the cos
Elodia [21]

Answer:

Debit Sales Returns and Allowances $500; debit Merchandise Inventory $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150.

Explanation:

Based on the information given the required appropiate journal entry to record the return on the books of the seller, in a situation were the goods can be sold to another customer is :

Debit Sales Returns and Allowances $500

Debit Merchandise Inventory $150

Credit Accounts Receivable $500

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(To record the return on the books of the seller)

6 0
3 years ago
While designing a management support system, it's important to remember that executives do not care about _____.
Morgarella [4.7K]

Answer:

a. sales figures

Explanation:

In the case when the design would be made with regard to management support system so it would be significant to remeber that the executives should not care for the sales amount or figures as they do not play any kind of role in the management support system.

So the same would be relevant

Hence, the correct option is a.

3 0
2 years ago
On February 1st, your accrual based company incurs $500.00 for services. On February 25th, your company pays $300.00 towards the
Zigmanuir [339]
                                              Debit                Credit

Feb 1
Services                                500
           Accounts Payable                               500

Feb 25
Accounts Payable               300
          Cash                                                      300

March 5
Accounts Payable               200
          Cash                                                      200

The entries made in March 5th zeroed out the Accounts Payable on the Services bought on account last February 1st.
3 0
3 years ago
What is a qualitative forecasting model, and when is its use appropriate?
BigorU [14]
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4 0
3 years ago
Heuristics a. are shortcuts that save time and energy in decision making. b. are rules of thumb that generate decisions that gen
saul85 [17]

Answer:

The correct answer is letter "A": are shortcuts that save time and energy in decision making.

Explanation:

Heuristics is a practical technique for problem-solving. It is creative at the moment of taking decisions and can be applied to any matter of study. Sometimes heuristics are emotionally-based but in some other cases, it is knowledge-influenced. <em>While heuristics can save an individual's time and energy it could not lead them to make the best choice.</em>

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