Answer:
A. both are general partners
Explanation:
Both Chris and Paul are general partners. It is true that Chris makes all business decision and that made Paul irrelevant to the management of the partnership. And he made Chris signed a partnership agreement that he will be liable up to the extent of his capital contribution. Yet that is not a solid evidence towards third party liability in case of solvency. In order for him (Paul) to become a limited partner, he should be registered to the state as “limited partner” during the partnership’s registration and that will be recorded into the Articles of Partnership. Otherwise, he is classified as general partner and is liable up to the extent of his personal asset. The contract (partnership agreement) that he and Chris had is valid only up to them but not into third party.
Answer:
$120,000
Explanation:
NFAI = Change in net fixed assets + Depreciation
= $300,000 + $204,000
= $504,000
NCAI = Change in current assets - Change in accounts payable
= $146,000 - $73,000
= $73,000
OCF = $697,000
FCF = OCF - NFAI - NCAI
= $697,000 - $504,000 - $73,000
= $120,000
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Answer:
Corruption
Explanation:
Corruption is the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats. It is a form of dishonesty (morally speaking) and also a criminal offense ( legally speaking) committed by an official or organization entrusted with a position of authority (politically speaking), for acquisition of benefit or abuse power for personal aggrandizement.
It can also be called a manifestation of fraudulent behavior and bribery is a major component.
