Robert owns and operates a dry cleaning store as a sole proprietorship. Robert needs more
money for the business, so Janet agrees to lend him the money.
Janet is to receive one-half of the
net income of the dry cleaning store until the loan and interest is paid. This situation is:
A) A partnership because they share profits.
B) A partnership because there is an association of two or more people.
C) Not a partnership.
D) A partnership because they own the business together.
E) A partnership because they are carrying on a trade or business.
C
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On December 1, 2018, Atlas Company sold machinery to a customer for $24,000. The customer could not pay at the time of sale but agreed to pay 10 months later and signed a 10-month note at 9% interest. How much interest revenue was earned during 2019? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $1080 B) $2160 C) $1980 D) $1620
Which of the following is NOT an example of nonsampling error?
A. Coverage error B. Measurement error C. Interviewer error D. Statistical error
Punitive damages are always available for breach of contract
Indicate whether the statement is true or false
Nikolas is currently in an age group whose labor force participation rate is projected to increase between now and 2050 according to the U.S. Bureau of Labor Statistics. Given the following choices, how old is Nikolas?
A. 15 B. 27 C. 38 D. 58