James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for his father in the partnership and was well qualified to do the work his father had done. Which statement best describes Frank's rights in the partnership if he inherits the interest?
a. Frank has a right to take over for his father in the partnership.
b. Frank is entitled to the value in the partnership, but not to become a full partner.
c. Frank has no rights to his father's partnership interest.
d. Frank cannot be a full-fledged partner, but he can vote on firm matters.
b
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Indicate whether the statement is true or false
[The following information applies to the questions displayed below.]On January 1, Year 1, the Platte Corporation issues a 5-year note payable for $5,000. The interest rate is 5% and the annual payment of $1,156, due each December 31, includes both interest and principal.Which of the following shows the effect of the December 31, Year 1 payment? Assets=Liab.+Stk.EquityRevenue?Expense=Net Inc.Stmt. ofCash FlowsA.(1,156)=(1,156)+NANA?NA=NA(1,156)FAB.(1,156)=(906)+(250)NA?250=(250)(906)FA/(250)OAC.(1,156)=NA+(1,156)NA?1,156=(1,156)(1,156)OAD.(1,156)=(906)+(250)NA?250=(250)(1,156)FA
A. Option A B. Option B C. Option C D. Option D
You can utilize the Internet to develop financial plans and goals, analyze and select individual investments and organize your portfolio
Indicate whether the statement is true or false.
A labor union had once been whites only but is now integrated. Its membership rules used to state that to obtain employment through the union you had to be related to or recommended by a union member. Such a rule would now be:
a. not illegal because segregation had been eliminated b. not illegal because Title VII does not apply to unions c. illegal because blacks who entered the union would be junior to whites in seniority d. illegal because it would perpetuate past intentional discrimination e. none of the other choices