Which of the following factors does the Court consider in order to determine if a partnership exists?
A) whether there is a joint contribution to the capital to start a business
B) whether the parties have an intention to share profits and losses
C) whether there is joint participation in the management of the business
D) A and B
E) all of the above.
E
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Which of the following items is usually classified as a noncurrent asset?
a. Prepaid rent b. Plant expansion fund c. Supplies d. Goods that are in the process of being completed for another company
The life expectancy of a particular brand of tire is normally distributed with a mean of 40,000 and a standard deviation of 5,000 miles. What is the probability that a randomly selected tire will have a life of at least 52,500 miles?
A. 0.0062 B. 0.9938 C. 0.0000 D. 1.0000
The Pension Benefit Guarantee Corporation performs a role similar to that of the Office of Thrift Supervision
Indicate whether the statement is true or false
Auditors obtain evidence about the inventory account through, among other procedures, observing the counting of inventory. What are some limitations "observation" has as an audit procedure?
What will be an ideal response?