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
Setler [38]
3 years ago
7

If no fixed duration of the partnership is specified, the partnership is a partnership in perpetuity, which means that the partn

ership cannot be dissolved.
a. True
b. False
Business
1 answer:
arsen [322]3 years ago
7 0

The answer is b. false.

In the absence of a partnership agreement on fixed duration, the Partnership Act 1890 may apply.

<span>Under the Act, a partnership will be automatically dissolved  if: a partner dies</span>

<span>·         </span>a partner becomes bankrupt;

<span>·         </span>the court orders it to be dissolved;

<span>·         </span>it's illegal to carry on the business of the partnership;

<span>·         </span><span>the partnership was created meet a goal and this  specific objective or the project is complete; or</span>

<span>a partner gives notice to dissolve the partnership to the other partners. The </span>
You might be interested in
Opportunity costs are not found in accounting records because they are not relevant to decisions.
Sergio [31]

The following statement "Opportunity costs are not found in accounting records because they are not relevant to decisions" is false.

The opportunity cost is the time spent learning and the money that might have been used for something else. When a farmer decides to grow wheat, there is an opportunity cost associated with not doing so or using the resources in another way (land and farm equipment).

The apparent advantage of not selecting the next best alternative when resources are limited is what is commonly referred to as opportunity cost. Opportunity costs are not just monetary or financial expenses. An opportunity cost is also the real price of missed productivity, time, or any other for-profit gain.

To know more about Opportunity Costs here

brainly.com/question/28347796

#SPJ4

6 0
1 year ago
Cromwell manufactures specialty electronic circuitry through a unique photo-electronic process. One of the primary products, Mod
WARRIOR [948]

Answer:

the  labor rate variance and labor efficiency variance is $2,000 favorable and $3,500 unfavorable

Explanation:

The computation of the labor rate variance and labor efficiency variance is given below;

For Labor rate variance

= $12,000 - (2000 × 7)

= $2000 F    

And, the Labor efficiency variance is

= 7 × (2000 - 3000 × 0.5)

= $3500 U

Hence, the  labor rate variance and labor efficiency variance is $2,000 favorable and $3,500 unfavorable

8 0
3 years ago
Consider an imaginary economy that has been growing at a rate of 6% per year. Government economists have proposed a number of po
Natasha2012 [34]

Answer:

11.67 years

Explanation:

The rule of 70 requires that in determining when the economy growth rate will double its current growth rate, the appropriate thing to do is divide 70 by the current growth rate of 6% per year.

The economy's growth rate of 6%  has its percentage ignored when the calculation is carried out.

=70/6= 11.67  

The current economy's growth rate would double in 11.67 years' time

8 0
3 years ago
On April 1, 2018, Owl Co. sold $2,000,000, 5% bonds at par, convertible to 18,000 common stock, but not converted in 2018. In 20
murzikaleks [220]

Answer:$4.44

Explanation:

Net income after tax is $600,00 less 20% =$480,000

Total shares for diluted eps 90,000+18,000= 108,000

Diluted eps= 480,000/108,000

= $4.44

.

3 0
3 years ago
Closing entries are not needed if adjusting entries are prepared need not be journalized if adjusting entries are prepared must
anastassius [24]

Answer: Closing entries: <u>" must be journalized and posted ".</u>

Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.

Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.

7 0
3 years ago
Other questions:
  • The most significant conceptual difference between the arbitrage pricing theory (apt) and the capital asset pricing model (capm)
    11·1 answer
  • The _______Inkblot Test employs a series of symmetrical inkblot cards that are presented to a client by a psychologist in an eff
    7·1 answer
  • The Broom Maker currently has annual sales of $387,000 and is operating at 88 percent of capacity. The profit margin of 5.5 perc
    8·1 answer
  • 1. Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 9 months of the year, and Marty e
    6·1 answer
  • The margin requirement on a stock purchase is 25%. You fully use the margin allowed to purchase 100 shares of MSFT at $25.
    15·1 answer
  • "The spot price of the market index is $900. A 3-month forward contract on this index is priced at $930. What is the profit or l
    15·1 answer
  • How do margin trades magnify both the upside potential and the downside risk of an investment position?
    11·1 answer
  • Looking through pages to find information that you have already identified is know as:
    13·2 answers
  • During 2019, $27,000 of cash dividends were declared and paid. A patent valued at $80,000 was obtained in exchange for land. Equ
    8·1 answer
  • The government banned running of an industry near a famous monument Taj Mahal, but ABC limited does not go by order of the court
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!