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gulaghasi [49]
3 years ago
5

James's partnership agreement with two other men was a bit unsound. One of the problems the men were encountering was uneven pro

ductivity among the partners. The agreement required each partner to contribute to every aspect of the business to receive an equal portion of the profits. This agreement did not reflect the idea that:
Business
1 answer:
levacccp [35]3 years ago
6 0

Answer:

All partners need not be equal.

Explanation:

The reason is that all the partners might have different roles and responsibility and are solely responsible for their assigned roles. Some of these partners might opt to not work for the organization and only have the share of profit which means they are not actively involved in business activities. So it would depend upon the experience and knowledge of individual persons.

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Requirement
Kipish [7]
The best early career choice for the senior interested in ultimately becoming a certified fraud examiner is to start working as an internal auditor. The work profile of an internal auditor complements the responsibilities performed by a certified fraud examiner. Since an internal auditor is someone who has the opportunity to work in all areas of the business. There is practical exposure in compliance, operational, and financial auditing.
7 0
3 years ago
Which item are mis-categorized balance sheet?
ivann1987 [24]

Answer:

B and C are mis-categorized balance sheet.

Explanation:

A. Accounts Payable: Accounts payable refers to amounts that are due to be paid by a company to vendors or suppliers of goods or services received without making payments yet. This is a liability item and the categorization is correct.

B. Prepaid expenses: These are advanced payments made by a company for commodities yet to receive. This is an asset item and the categorization is not correct.

C. Accounts Receivable: These refers to amounts that are owed to a company by its debtors for goods or services supplied to them for which they are yet to pay for. This is an asset item and the categorization is not correct.

D. Accrued expenses: These refers to expenses that have been incurred by a company but which the company is yet to pay for. This is a liability item and the categorization is correct.

E. Unearned revenue: This refers to advanced payment received by a company in respect of goods it is yet to deliver or services it is yet to render. This is a liability item and the categorization is correct.

F. Long-term debt: This refers to the amount of of outstanding debt of business with a maturity of 12 months or longer. This is a liability item and the categorization is correct.

Conclusion

Only B and C are mis-categorized balance sheet. The reason is that they are both asset items, current assets to be specific, not liability items.

6 0
3 years ago
Why is it important for a future Medical Administrative Assistant to understand of basic accounting and banking procedures?
Vinvika [58]
The medical administrative assistant is responsible for managing the front desk operations of a medical facility ( s hospital, a physician's office...). The job of a medical administrative assistant includes:  communicating with patients, scheduling appointments, accounting and billing, filing insurance claims, maintaining records.<span> For a future medical administrative assistant it is important to understand of basic accounting and banking procedures because his/her job will require </span>handle billing and light bookkeeping.
3 0
4 years ago
Charlena gives Megan the post of Vice-President of Procurement to express appreciation for Megan's hard work in stocking the she
Aliun [14]

Answer:

Apparent Authority

Explanation:

Based on the information provided within the question it seems that the authority that Charlene has given Megan is Apparent Authority. This term refers to a subtle authority given to an individual which a reasonable third party would understand that they are an agent acting on behalf of their employer. Such an example would be an employee driving a UPS truck, any reasonable person would see the UPS truck as a sign that the individual driving has authority to act on behalf of the UPS company. The UPS truck is similar to the business card that Megan has, giving her apparent authority to act on behalf of Thrift City.

8 0
3 years ago
Read 2 more answers
An employer will conduct a job interview with who
m_a_m_a [10]

Answer:

The correct answer is the interviewee. You can use the term candidate as well.

Explanation:

The purpose of conducting an interview is to identify a potential candidate for the job. During the process, many aspects of an individual's personality and technical proficiency is evaluated.

6 0
3 years ago
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