<span>Termination clauses always make a contract invalid for lack of consideration.</span>
Answer:
The bakery business is a good business for this location but the jewellery is not.
Explanation:
The bakery business is a good business for this location but the jewellery is not. This is because the vast majority of individuals in the area are most likely going to be people spending the day travelling and going to the beach or taking a walk on the boardwalk. Therefore, pasteries in the morning on a nice day or in the afternoon would be in demand in that area. However, jewellery probably will not be in high demand. The best place for a jewellery store is in the middle of the city where people go to shop, ideally a high income location.
Answer:
before tax 305,500
tax expense 48,880
after tax 300,620
Explanation:
income from continuing operations of 319,000
Capital gain 33,500
understatement of 2016 income 20,000
loss on available-for-sale securities. (58,800)
discontinued operations <u> (8,200) </u>
Total other comprehensive income 305,500
tax expense 16% <u> (48,880) </u>
net 300,620
We will list each transaction, notice the understatement of 2016 income means the company recognize a lower income than it should, so we increase the other comprehensive income.
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.
