Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a ratio of 3:2 . Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000 . If the noncash assets are sold for $80,000, the Macki's capital account will
a. decrease by $16,000
b. decrease by $24,000
c. increase by $24,000
d. decrease by $40,000
a
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Documents with a sequence of long paragraphs may not be very readable, but too many short paragraphs make a document _____________________________
a. long and boring b. unofficial and non-binding c. choppy and hard to use d. unfocused and amusing
The determination of whether a lease is a capital or operating lease is an example of:
a. elastic uniformity. b. finite uniformity. c. flexible uniformity. d. rigid uniformity.
________ depicts a market in which the sources of competitive advantage can change quickly, and maintaining above-average profits over a long time is difficult.
a. Hypercompetition b. Low-level competition c. High-level competition d. Oligopoly
A party injured by fraud generally has the choice of suing for damages or rescinding the contract
a. True b. False Indicate whether the statement is true or false