1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AnnyKZ [126]
2 years ago
8

Bryn, Cornell, and Duke are general partners in Equity Lending, a consumer credit, mortgage, and investment firm. Their agreemen

t states that it is a breach of the agreement for any partner to assign his or her interest to a creditor without the consent of the other partners.
(A) nothing with respect to the firm's existence.
(B) the continuation of the firm's business.
(C) the termination of the firm's legal existence.
(D) the temporary suspension of the firm's business.
Business
1 answer:
Viefleur [7K]2 years ago
3 0

Answer:

C. The termination of the firm's legal existence.

Explanation:

General partners are individuals, two or more , who come together to own a business and controls daily activities of the business. Each member has unlimited liability and their action can legally bind the activities of the business. They share profit and losses equally.

According to fact pattern 27-3, if the partners agree to dissolve one of their business line- equity lending as in the case above and the company's assets are shared among the partners, it would result in the termination of the firm's legal existence.

Once there is a breach by any of the partners as contained in the partnership agreement and the partner's asset shared, that is dissolution. The partnership business has therefore been terminated legally and cease to exit.

You might be interested in
The first person that answers ill give u 50 brainlist points, brainlist to, stars, and a heart
melisa1 [442]
Hi and I am cool
And thx
6 0
2 years ago
Read 2 more answers
Larned Corporation recorded the following transactions for the just completed month.
Galina-37 [17]

Answer and Explanation:

The journal entries are shown below:

Raw materials inventory $76,000  

   To Accounts payable $76,000

(being the raw material purchased on account)

Work in process inventory $65,000

Manufacturing overhead $9,000

      To Raw materials inventory $74,000

(Being the work in process and overhead is recorded)

Work in process inventory $101,500

Manufacturing overhead $21,500

      To Cash $123,000

(being cash paid is recorded)

Manufacturing overhead $195,000

        To Accumulated depreciation-Equipment $195,000

(being the manufacturing overhead is recorded)

7 0
3 years ago
What should you do to elicit the most useful data in your interviews? Ask primarily yes-or-no questions. Ask leading and ambiguo
grin007 [14]

Answer:

Make your questions objective and friendly.

Explanation:

An interview is an essential step in the process of selecting a candidate to fill a position in a company.

Through the interview, verbal and non-verbal data are collected that will help in the relationship between the profile of the interviewed candidate and the profile expected to fill the vacancy.

It is important that the interviewer uses some techniques to make the interview flow effectively, the first of which is to maintain a friendly posture, as it is common for candidates for an interview to feel intimidated or anxious due to the selection process.

It is also essential that the questions are objective and honest, so that there is a correct understanding and the candidate can answer correctly and effectively.

And the interview should be a step that does not cause intimidation and lack of ethics on both sides, it is ideal that the candidate feels motivated to ask relevant questions to answer their doubts, and that the interviewer conducts the interview schedule in an effective way.

5 0
2 years ago
Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,900 shares of its own common st
Nikitich [7]

Answer: See explanation

Explanation:

The journal entry to record the transaction for Sherman systems will be:

Oct-11

Debit Treasury Stock (5,900 × $34) =

$200,600

Credit Cash = $200,600

(To record repurchase of 5900 own shares)

Nov-01

Debit Cash (1,225 × $40) = $49,000

Credit Treasury stock (1,225 × $34) = $41,650

Credit Paid in capital-Treasury Stock = $7,350

(To record sale 1225 shares from treasury stock)

Nov-25

Debit Cash (5,900-1,225) × $29) = $135,575

Debit Paid in capital-Treasury Stock = $7,350

Debit Retained earnings = $16,025

Credit Treasury stock (5,900-1,225) × $34) = $158,950

(To record sale balance from treasury stock)

7 0
2 years ago
Mary is introduced to three new people at a party. Later, however, she cannot remember the names of any of her new acquaintances
MissTica

Answer:

She never encoded the names into long-term memory is the correct answer.

Explanation:

7 0
2 years ago
Other questions:
  • JED Corp., an e-commerce company, has created a network that supports its supply chain management system. The network provides t
    15·1 answer
  • Contractors Service, Inc., enters into a contract to build a restaurant for Dierdre’s Soup Spoons Bistro with Dierdre’s payment
    7·1 answer
  • What is Eduloan and is it a good choice is it affordable...Why should we choose Eduloan and how does it work
    13·1 answer
  • Match each item (characteristics, assumptions, principles, and constraint guide the FASB when it creates accounting standards) w
    13·1 answer
  • The ____ model of participation sees risks in greater participation and, thus, favors a larger role for elites.
    10·1 answer
  • Bryson Accounting Services performed accounting services for a client in December. A bill was mailed to the client on December 3
    14·1 answer
  • Sales revenue $900,000 Cost of goods sold 625,000 Sales discounts 30,000 Sales returns and allowances 15,000 Operating expenses
    11·2 answers
  • How much would you have to deposit today if you wanted to have $60,000 in four years? Annual interest rate is 9%. (PV of $1, FV
    9·1 answer
  • Chapman Machine Shop is considering a 4-year project to improve its production efficiency. Buying a new machine press for $576,0
    11·1 answer
  • In which situation would a savings account be the be investment to earn interest
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!