During the course of a partnership's winding-up process, the partners owe each other:
a. a duty to disclose all finances of the partnership b. a duty to compete fully
c. a duty to refrain from termination d. a duty of discounting
e. a duty to mitigate
a
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Which of the following is a benefit of using a computerized accounting information system?
A) The software can accurately measure the intrinsic value of the firm using the built-in simulation techniques. B) There is no need to review the financial statements for accuracy. C) The software is easy to use and thus no training or financial statement review is necessary. D) The software automatically transfers the amounts from the general ledger to the financial statements.
Any initial direct costs incurred by the lessor for a sales-type lease should be
A. expensed in the same period that the lease receivable is recognized. B. recorded as a prepaid asset and allocated to expense over the lease term. C. deferred and recognized as a reduction in the interest rate implicit in the lease. D. directly charged (debited) to Retained Earnings.
The view that leadership performance is a function of the time and place within which the leader acts comes from which theory?
a. Postmodern theory b. Contingency/situational Theory c. Trait Theory d. Behavioural Theory
Which of the following statements is CORRECT?
A. If a security analyst saw that a firm's days' sales outstanding (DSO) was higher than the industry average and trending still higher, this would be interpreted as a sign of strength. B. A high average DSO indicates that none of the firm's customers are paying on time. In addition, it makes no sense to evaluate the firm's DSO with the firm's credit terms. C. There is no relationship between the days' sales outstanding (DSO) and the average collection period (ACP). These ratios measure entirely different things. D. A reduction in accounts receivable would have no effect on the current ratio, but it would lead to an increase in the quick ratio. E. If a firm increases its sales while holding its accounts receivable constant, then its days' sales outstanding will decline, other things held constant.