A ________ is a partnership agreement in which members of the organization own shares that are transferable, but all goods are held in the name of the members, who assume partnership liability
A) joint stock company
B) syndicate
C) joint venture
D) franchise
A
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Which of the following is not a type of adjusting entry?
A) depreciation of long-term physical assets B) allocation of unearned revenue C) correction of an error in the general journal D) recording of accrued revenue
Which of the following approaches is recommended to help users view a new system as easy to use?
A. Develop a detailed specification of the features the new system will have. B. Show the look and feel of the new system (i.e., sample computer screens, reports, etc.) well before the new system is developed in order to help users feel comfortable with it. C. Make sure all user requests are addressed as enhancements to the system in its maintenance phase. D. Provide extensive training just after the system goes into production throughout the organization.
Which of the following best describes the reason for allocating a joint cost?
a. control. b. decision making. c. evaluating employee performance. d. product costing.
Mr. Raynold writes a will placing his estate in a trust on his death. He names a local bank as the trustee to administer the trust and invest its assets
The trust provides that when his grandson reaches the age of 23, the trust will terminate, and he will be given legal title to the assets. Mr. Raynold dies when the grandson is 12 years old. At the age of 23, the grandson inherits the title to the assets. What kind of trust is created by Mr. Raynold in this scenario? A) an inter vivos trust B) a testamentary trust C) a constructive trust D) a resulting trust