When a new partner purchases the entire interest of an old partner, the new partner's capital account should be credited for the amount he or she paid to the old partner
Indicate whether the statement is true or false
False
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Which type of power is based upon the user’s ability to influence others by providing something of value to them?
a. coercive b. information c. reward d. expert
Which of the following can be classified as private law?
A) administrative law B) property law C) constitutional law D) criminal law
Component parts usually need to be processed significantly before they are used in production.
Answer the following statement true (T) or false (F)
While driving home from work, Bailey's car is struck from behind by a van full of drunken college students. Asimov is the driver of the van. The resulting damage to Bailey's car totals $7,000
Bailey files a claim under his own auto insurance policy to have his car repaired, but his insurance policy only covers $6,000 of the $7,000 loss. Bailey pays the remaining $1,000 of the loss out of his pocket. Which of the following is a true statement? A) Bailey has no legal right of subrogation against Asimov for the $1,000 that he had to pay out of his pocket. B) Bailey's insurer has no legal right of subrogation against Asimov for the $6,000 of damages it had to pay to Bailey. C) Bailey has the right under the principle of indemnity to now sue Asimov personally for the $7,000 damages to his car. D) Both Bailey and his insurer have subrogation RIGHTS against Asimov for the damages he (Asimov) caused.