A partner's interest in a partnership is not transferable

Indicate whether the statement is true or false


False

Business

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In order to be a recorded contingent liability, the liability must be possible and easily estimated

a. True b. False Indicate whether the statement is true or false

Business

Sales quotas are specific sales goals that salespeople are required to meet

Indicate whether the statement is true or false

Business

On January 1, 2017, Tolvin Company signed a contract to have Bob's Builders construct a office building at a cost of $30,000,000. It was estimated that it would take four years to complete the project. Also on January 1, 2017, to finance the construction cost, Tolvin borrowed $20,000,000 payable in five annual installments of $4,000,000 plus interest at the rate of 8%. During 2017, Tolvin made

progress payments totaling $5,000,000 under the contract, and the average amount of accumulated expenditures was $6,000,000 for the year. The excess borrowed funds were invested in short-term securities, from which Tolvin realized investment income of $650,000. What amount should Tolvin report as capitalized interest at December 31, 2017? A) ?$ 400,000 B) ?$ 480,000 C) ?$ 650,000 D) ?$1,600,000

Business

Using ordinary interest, calculate the missing information for the simple discount note: Face Discount Date of  Maturity Bank  Value Rate Note Term Date Discount Proceeds $29,000 10.5% Sept. 2 90 days

What will be an ideal response?

Business