Answer: D. James is entitled to keep the money he received from Mike.
Explanation:
From the question, we are informed that Mark and James established a partnership to deal in textiles. Both of them contributed equal capital to the partnership and that two years later James sold his share of the firm to Mike.
The option that is permissible is that James is entitled to keep the money he received from Mike.
Answer: the correct answer is e. Normative myopia
Explanation:
It could occur because:
1. The belief that normative values do not apply to managerial decisions
2. The belief that facts and values can be separated in decision making
3. The belief that normative values are outside the realm of business.
This question is too broad because there are many factors that determine the interest rate of a CD, such as the amount you are investing, the length of time, and the banking institution.
Answer:
Frank's widow will show $2000 as income in respect of the descent in her income tax return. Since Frank used the cash method of accounting and the income was not reported on the final return of the decedent or on the return of the estate the income should be included when it is actually received and it will be included in the Frank's widow income because she is the beneficiary and she has a right to receive it.
Intra-company standards for financial statement analysis :
Are based on a company's prior performance and relations between its financial items.
<h3>
What are Intra-company Standards for Financial Statement Analysis based on?</h3>
Three commonly used standards for financial statement analysis are rule-of-thumb measures, the company's past performance, and industry norms.
Rule-of-thumb measures are weak because of the lack of evidence that they can be widely applied. The past performance of a company can offer a guideline for measuring improvement but is not helpful in judging performance relative to other companies. Although the use of industry norms overcomes this last problem, its disadvantage is that firms are not always comparable, even in the same industry.
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