A key characteristic of a partnership is that each partner
A. must contribute capital to the business.
B. shares in company assets upon the dissolution of the partnership.
C. is capable of legally contracting.
D. must manage the business.
Answer: C
You might also like to view...
The body of a proposal should
A) capture the reader's attention. B) explain the complete details of the solution. C) make whatever promises it takes to win the contract. D) aggressively attack any other companies competing for the audience's business. E) explain the advantages for your company if the proposal is accepted.
Which of the following statements is true?
A) A company's value chain is not part of its supply chain. B) A manufacturer's supply chain typically includes research and development and customer service. C) A company's supply chain includes the value chains of its suppliers. D) Your supplier's suppliers are part of your value chain.
Firms account for leases using either the operating lease method or the capital (finance) lease method. Which of the following is not true?
a. The operating lease method treats leases as executory contracts. b. The operating lease method does not recognize a leased asset on the lessee's balance sheet. c. The operating lease method recognizes a lease liability on the lessee's balance sheet. d. The lessor recognizes rent revenue as the lessee uses the leased asset over time e. The lessee recognizes rent expense as the lessee uses the leased asset over time.
___________________ are individuals that advise line management of the firm in a field of expertise, basically acting as internal consultants for the company within their fields of specialized knowledge.
A. Staff managers B. Line managers C. Night shift managers D. Strategic advisors E. Staffers