Unless otherwise stated by contract, the law of partnership presumes which of the following not to be true?
a. each partner has an equal voice in partnership management b. a majority vote controls ordinary business decisions
c. profits are to be divided among the partners
d. regardless of the amount invested in the partnership, each partner has an equal vote e. all of the other choices are true
e
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Slim Co is ordering a new computer for its corporate office. Which of the following events would trigger the recognition of the computer and related liability on Slim's books?
A) The company generates a purchase order. B) The purchasing department sends a purchase order to the supplier. C) The company receives the computer. D) The company receives the bill from the supplier.
Joe buys a trailer from a used-car dealership. On enquiry, the dealer tells him that the trailer is in great condition. However, three days later, the trailer breaks down
Investigation by Joe reveals that the trailer had seven previous owners and that the engine has been replaced thrice. An automobile expert tells Joe that the trailer is dangerous. Which of the following frauds would the dealer be liable for? A) fraud in the factum B) fraud in the inducement C) fraud by concealment D) misrepresentation of law
Which element below is an example of internal noise disturbance of the communication process?
a. Jargon or complex language b. Construction work c. Telephone ringing d. Loud talking
An over-the-counter (OTC) market is a physical exchange, much like the New York Stock Exchange, where securities dealers provide trading in unlisted securities.
Answer the following statement true (T) or false (F)