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dybincka [34]
3 years ago
13

After spending a summer "down under," two Oregon friends, Rick and Mick, created a general partnership to import emu from Austra

lia to the U.S. After a year, Rick found himself at the mercy of Mick, who seemed to keep the books and seldom share the financial results, even though Rick was out selling the emu idea to farmers and ecologically conscious consumers and shipments were increasing. As their consultant, one of the first things that you inquire about is whether they are familiar with the UPA (Uniform Partnership Act), specifically the right to participate in managing the operations of the business.
A. True
B. False
Business
1 answer:
I am Lyosha [343]3 years ago
8 0

Answer:

A. True

Explanation:

The Uniform Partnership Act, is an act that exists for the regulation of commercial partnerships of the states of the USA (with the exception of Louisiana).

Therefore, the question is true, as the law stipulates that in a common property, profits and losses must be shared equally and each party must have the right to obtain regular knowledge and receipt of the financial statements that relate to the business.

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Which option correctly describes a benefit of using professional networking websites? OA Reach out to friends and relatives for
Katena32 [7]

Answer:

B. you should get updates about the companies that interest you.

Explanation:

B. Because once you find something that interest you its easier to work at a  place you like than to be bored and sad at a place you don't like

6 0
2 years ago
A company reported beginning inventory of 100 units at a per unit cost of $25. It had the following purchase and sales transacti
patriot [66]

Answer:

14-Jan

Dr Trade Receivable $1,125

Cr Sales

14-jan

Dr Cost of sales 625

Cr Inventory 625

9-Apr

Dr Inventory 375

Cr Trade Payable 375

2-Sep

Dr Trade Receivable $2,500

Cr Sales $2,500

2 sep

Dr Cost of sales $1,375

Cr Inventory $1,375

Dec 31 No journal entry

Explanation:

Preparation to Records the month-end journal entries noted below, assuming the company uses a periodic inventory system

14-Jan

Dr Trade Receivable $1,125

Cr Sales (45*25)

14-jan

Dr Cost of sales[25*25] 625

Cr Inventory 625

9-Apr

Dr Inventory (25*$15) 375

Cr Trade Payable 375

2-Sep

Dr Trade Receivable $2,500

Cr Sales (50*50) $2,500

2 Sep

Dr Cost of sales $1,375

Cr Inventory $1,375

($2,500-$1,125)

Dec 31 No journal entry

8 0
2 years ago
Income elasticity of demand is
coldgirl [10]

Answer: Option (a) is correct.

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.

Income\ elasticity\ of\ demand=\frac{percentage\ in\ quantity\ demanded}{percentage\ change\ in\ income}

Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.

3 0
3 years ago
Read 2 more answers
During its first year of operations, Marigold Corporation had the following transactions pertaining to its common stock. Jan. 10
RideAnS [48]

Answer:

Journalize the transactions is given below

Explanation:

given data

Issued =  66,500 shares

cash = $6 per share

Issued = 41,500 shares

cash = $8 per share

solution

we get here Journalize the transactions

and we assuming that the common stock has a par value of $6 per share

so

Jan. 10 cash is 66,500 × 6 = 399000

and cash for July 1  is = 41,500 × 8 = 332000

and common stock = 41,500 × 6  = 249000

paid in capital excess =  332000 - 249000 = 83000

Date             Account Titles                           Debit               Credit

Jan. 10          cash                                            399000

                    common stock                                                   399000

July 1             cash                                             332000

                     common stock                                                 249000

                     paid in capital excess                                      83000

8 0
3 years ago
Unavoidable fixed costs are __________.
allsm [11]

Answer:

Irrelevant to the decision of whether to discontinue a product line because they will not differ between alternatives.

Explanation:

Unavoidable fixed costs can be defined as the costs that is sustained by an organization irrespective of if an activity is carried out or not.

Unavoidable costs are the costs that are encountered by a lot of businesses, this cost cannot be prevented even though production activities in the company are suspended in the short-run. These fixed costs are unavoidable and uncontrollable.

Unavoidable fixed costs is as a result of the various risks incurred by an organization inorder to stay relevant in the market. Example of unavoidable costs include tax payment, rental payments.

4 0
3 years ago
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