Parker and Oscar sign a partnership agreement to do business as "Parker's Plumbing" without specifying a duration. This partnership is terminable
A. at any time by either partner.
B. only after a reasonable term.
C. only if Parker dissociates from the firm.
D. only if Oscar dissociates from the firm.
Answer: A
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Assume that a major customer of the company that you are auditing files for bankruptcy during the subsequent period because of a deteriorating financial condition. Neither you nor the client becomes aware of the event until the bankruptcy filing is reported. What type of subsequent event would this be?
a. Type I subsequent event b. Type II subsequent event c. Neither Type I or Type II d. Both Type I and Type II
When deciding how to allocate the results of the coalition's efforts, those advocating an equity allocation standard argue that those who contributed more should receive more, in proportion to the magnitude of their contribution.
Answer the following statement true (T) or false (F)
GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and profit projections for some new products to find out whether they satisfy the company's objectives. This activity is called business product development
Indicate whether the statement is true or false
Which of the following statements regarding the traditional manufacturing environment is not true?
A) Machines are often put into "manufacturing cells" whereby dissimilar machines are grouped together. B) Raw material is "pushed" to the next production area in anticipation of customer demand. C) Manufacturers often have raw material, work in process, and finished goods inventory on hand. D) Buffers of inventory may result in workers being less efficient.