Answer:
1. a GENERAL partner
2. a LIMITED partner
Explanation:
A GENERAL partner has responsibility or liability for losses beyond their investment. They are bound up to the extent of their personal assets incase the partnership is insolvent. They are also responsible in the management and decision-making process in the operation of the partnership. A LIMITED partner on the other hand is only liable in the partnership’s losses up to the extent of his investment in case of partnership’s insolvency. But a limited partner should NOT participate in the management and decision-making process of the operation in the partnership for him to be not liable up to the extent of his personal asset. A limited partner should also be recorded in the articles of the partnership as “LIMITED PARTNER”, otherwise he is liable as general partner.
Answer:
the probability that exactly 30 of the 500 calculators IS 0.0495
Explanation:
Given data:
number of calculators n = 500,
percentage of defected calculators p = 0.05
From Normal approximation method;
Therefore probability is
P(X= 30) = P(29.5< X< 30.5) ( from continuous correction)
![ =P[\frac{(29.5-25)}{4.87}] < \frac{(X-mean)}{s} < \frac{(30.5-25)}{4.87} =P(0.92](https://tex.z-dn.net/?f=%0A%3DP%5B%5Cfrac%7B%2829.5-25%29%7D%7B4.87%7D%5D%20%3C%20%5Cfrac%7B%28X-mean%29%7D%7Bs%7D%20%3C%20%5Cfrac%7B%2830.5-25%29%7D%7B4.87%7D%0A%3C%2Fp%3E%3Cp%3E%0A%3DP%280.92%3CZ%3C%201.13%29%0A)
=0.0495 (from standard table of Z )
Answer:
H.T. Tan Company
Computation of the Ending Inventory, using lower of cost or net realizable value:
Item Quantity (FIFO cost) Net Realizable Value Valuation
A 50 $15 $12 $600 ($12 x 50)
B 80 30 40 $2,400 ($30 x 80)
C 10 48 52 $480 ($48 x 10)
D 70 25 30 $1,750 ($25 x 70)
E 350 10 5 $1,750 ($5 x 350)
Total 560 $6,980
Explanation:
Conservatism principle requires that in valuing inventory, an entity should choose a method that does not overstate the inventory value. The LCNRV method meets this requirement. The method takes the lower of the historical cost of the goods and the market price to determine the value of inventory.
The price elasticity of supply for a good is 3 if a 1% decrease in price leads to a 3% decrease in quantity supplied.
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Explanation:</u></h3>
The measure of the response that a supply for goods and services shows after the modification of prices refers to the Price elasticity. When the price of any goods or services increases there will be a rise in the supply of goods and services. When the prices of any goods or services decreases then the supply of those goods and services will also decrease.
Price elasticity also measures the demand that a product or services has based on the modification of the price. When the product tends to be affected by the price changes it is said to be elastic. When it is not responding to the prices of the product the n these are said to be inelastic. In the given example the price elasticity of the supply of a good is said to be 3% and if a 1% decrease in price leads to a 3% decrease in quantity supplied.
Answer:
budget enough money for attractive pay levels.
Explanation:
