Which of the following statements best describes accounting for a partnership?
A. A partnership may be a profit or a nonprofit entity.
B. A partnership may only distribute money through a dividend payment.
C. A partnership may use federal income tax rules to account for transactions in their journals and ledger accounts.
D. A partnership's equity section contains both capital and retained earnings accounts.
Answer: C
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Franchising is a contractual agreement where one company sells the rights to its brand, logo, and business model to another company
Indicate whether the statement is true or false
When a company factors its accounts receivable, it
A) enters into a lending agreement with the institution to receive cash on specific customer accounts. B) sells individual accounts to a financial institution. C) uses these accounts only as a collateral for a loan. D) transfers the accounts but retains title of the accounts until the loan is paid.
Which of the following is NOT an example of performance data?
A) a list of product service centers available to customers B) the AHAM certification seal C) a label on a storm window that indicates the product's "R" value D) a window sticker on an automobile that lists the EPA gas mileage figures E) research sheets on server downtime and data transfer rates
An organization relates actively and continuously to certain segments of its clients, employees, directors and the community. They are
a. primary publics b. secondary publics c. tertiary publics d. irrelevant publics e. internal publics