An assignment of the interest of a limited partner dissolves a limited partnership.
Answer the following statement true (T) or false (F)
False
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Similar to the constraints in the FASB's qualitative characteristics, the joint IASB/FASB boards have identified which constraint
A) consistency B) benefits that justify the costs C) materiality D) objectivity
Budde Chemicals produces two industrial chemical compounds, X15 and Z24, from the same process, which last year cost $600,000 . Budde produced 10,00 . gallons of X15, which sells for $40 per gallon and 40,00 . gallons of Z24, which sells for $20 per gallon. Using the relative sales method, how much of the joint cost should be allocated to X15?
a. $200,000 b. $400,000 c. $120,000 d. $150,000
Kaylin graduated from college in June. For the last three years she successfully ran a small part-time business while attending school
Her business arranged for the delivery of personalized birthday cakes and other gifts to students in her school. Since many of these students were from different states or countries, this service provided a way for their family and friends back home to celebrate the occasion. Kaylin used social media like Facebook and Twitter to remind potential customers of upcoming birthdays and other gift-giving occasions, like holidays or campus events (care package for mid-term exams, picnic packs to celebrate the arrival of spring after a snowy winter, etc.). Describe some of the communication issues that Kaylin might have faced while running her college business. What will be an ideal response?
Periodic review systems are ______.
a. characterized by a continuous physical count of inventory b. best suited for businesses that sell low-volume products c. also known as seasonal review systems d. used extensively in the service industry