In determining whether a partnership exists, which of the following factors is not evidence of a partnership?
A) Shared profits and losses
B) Co-ownership of property
C) Equal control of the business
D) Partner contributions.
B
You might also like to view...
Individuals with highly developed interpersonal construct systems demonstrate ______.
a. increased perception b. cognitive complexity c. hyper-selection d. high cognition
At March 31, Cummins Co. had a balance in its cash account of $10,000. At the end of March the company determined that it had outstanding checks of $1015, deposits in transit of $650, a bank service charge of $30, and an NSF check from a customer for $215. The true cash balance at March 31 is:
A. $9635 B. $10,000 C. $9755 D. $9385
Which of the following businesses can't use the cash receipts and disbursement method of accounting for tax purposes?
A. Partnership of individuals with $20 million average annual gross receipts B. Corporation with $50 million average annual gross receipts C. Personal service corporation with $50 million average annual gross receipts D. Sole proprietorship with $8 million average annual gross receipts
The U.S. Congress passed the Sherman Antitrust Act in 1890 in an attempt to prevent monopoly in business.
a. true b. false