Which of the following is true of the relationship between partners?
A) In most general partnerships, each partner has two votes in decisions pertaining to the management of the business.
B) Each partner should have a fiduciary relationship with the partnership.
C) Decisions pertaining to merging with another partnership should never be decided by a unanimous vote.
D) The duty of loyalty and a duty of good faith and fair dealings by partners are established by the Uniform Partnership Act.
B
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Which of the following is not an error that would require a company to record a prior period adjustment? Assume all are material
A) A mathematical mistake is made in the calculation of bad debt expense. B) Facts of a bond retirement transaction are misconstrued. C) Accounting principles are misapplied in the valuation of inventory. D) A correction is made to the estimated useful life of a building.
Graciella’s Instagram account showcases hundreds of photos from her trip to India, while Dante posts photos of his studio and his paintings and Marla features selfies with her boyfriend and friends. Which characteristic of new media theory does this represent?
a. always evolving b. active c. personalized d. interactive
The Supreme Court interprets the Commerce Clause:
a. narrowly. b. as granting virtually complete power to Congress to regulate the economy. c. as restricting Congress to the coining of money and taxation. d. to mean that the Court may invalidate legislation enacted by Congress when the activity affects the individual states' regulation of their own role in interstate commerce.
Your employer prepares a request for proposal that describes in vivid detail all of the capabilities that a new computer system should possess
A software product that can meet this request for proposal has performance characteristics that can be described as order qualifiers. Indicate whether the statement is true or false.