At what level of moral development do most people operate?
What will be an ideal response?
The conventional level.
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Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000 . They agree to salaries of $12,000 and $18,000 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will Singer's share of the income be if the income for the year is $15,000?
a. $9,000 b. $2,400 c. $1,000 d. $5,600
According to the RMBCA, only corporations with 50 or fewer shareholders may elect statutory close corporation status
Indicate whether the statement is true or false
Andre invested $100,000 in a partnership with Erik and Louis. Andre's contract with the partnership states he will receive a portion of partnership profits, but he will be liable for partnership's debts only to the extent of the $100,000 he invested. Andre is:
a. a subpartner. b. a dormant partner. c. a limited partner. d. an aggregate partner.
If a business firm refuses to comply with an agency's request to inspect facilities or business records, the agency must defer to the refusal
a. True b. False Indicate whether the statement is true or false