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lisabon 2012 [21]
3 years ago
11

Jason, Ellen and Frank are business partners. Each of them handles a separate area of the partnership's business. They periodica

lly have partners' meeting where they report to each other on the financial status of their areas and discuss potential new business. Jason's area of business has recently become extremely profitable, and Ellen and Frank are so happy with the new financials that they have not closely questioned Jason about the details especially since the partners continue to receive an equal share of the business profits each of them brings in. Ellen and Frank are shocked when the FBI comes to the office one Friday afternoon and arrest Jason. The FBI also informs Ellen and Frank that the office equipment is being seized and the partnership bank accounts have been frozen. Which of the following is a correct statement of the law?
a. Both Ellen and Frank can face criminal prosecution because the business was operated as a partnership.
b. Ellen and Frank will not be liable for Frank's conduct because Frank independently operated his area of the business.
c. Ellen and Frank should immediately file a Notice of Dissociation so that they will not be liable for Jason's conduct.
d. By not closely questioning Jason about his area of the business, Ellen and Frank will be seen to have ratified Jason's partnership operations.
Business
1 answer:
djyliett [7]3 years ago
4 0

Answer:

d. By not closely questioning Jason about his area of the business, Ellen and Frank will be seen to have ratified Jason's partnership operations.

Explanation:

Because Ellen and frank are partners with Jason, they would also both be liable for Franks conduct because the three of them are business partners and have shared profits equally in Jasons area of the business without paying attention to details about the source of the profit. This would make it seem like they were in agreement and accomplices with Jason.

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Answer:

It will take 30.10 year

Explanation:

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We know that future value is equal to A=P(!+\frac{r}{100})^n

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Taking log both side

log2=nlog1.0179

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Now in second case rate of interest

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How much would you have to invest today in the bank at an interest rate of 10% to have an annuity of $5600 per year for 7 years,
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Answer:

PV = $27,263.15

It will be needed to deposit the lump sum of $27,263.15

Explanation:

The question is asking for how much will you need to deposit in a lump sum  today to withdraw for seven years the sum of $5,600 with an interest rate of 10%

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3 years ago
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Answer and Explanation:

The computation of the effective annual rate in each of the following cases are

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2.

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densk [106]

Answer:

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