Which of the following will not result in dissolution of the partnership by court decree?
A) Insanity of a partner.
B) Incapacity of a partner.
C) Withdrawal of a partner.
D) Habitual drunkenness of a partner.
C
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When bonds are purchased between interest dates, the accrued interest should be
A) debited to Interest Receivable. B) debited to Interest Income. C) debited to Investment in Bonds. D) either a or b.
A business uses the allowance method and estimates the balance of the Allowance for Bad Debts account using the aging process. If the credit balance of the allowance account is $400 prior to the adjustment, and aging the receivables determines a balance of $4,000 is required, the adjusting entry will debit Bad Debt Expense and credit Allowance for Bad Debts for $3,600
Indicate whether the statement is true or false
Law protects persons from the unauthorized:
A) Touching. B) Restraint. C) Other contacts. D) All of the above.
To carry out systematic retirement of bonds, a corporation makes semiannual or annual payments that are used to retire bonds by purchasing them in the marketplace
Indicate whether the statement is true or false