Classify the following laws according to their sources: a. Internal Revenue Code b. Judicial interpretation of rent statute c. Interstate Land Sales Full Disclosure Act d. Uniform Partnership Act e. Broker licensing provisions
a. Federal
b. Court decisions
c. Federal
d. State
e. State - could be statute or regulation
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An organization chart assists in management control
Indicate whether the statement is true or false
The contribution margin ratio:
A. Is the percent of each sales dollar that remains after deducting the total unit fixed cost. B. Cannot be used in conjunction with other analytical tools. C. Is the percent of each sales dollar that remains to cover the variable and fixed costs. D. Is the same as the unit contribution margin. E. Is the percent of each sales dollar that remains after deducting the total unit variable cost.
In a partnership, each of the partners is liable to third parties for debts of the partnership in proportion to his or her ownership interest in the partnership
a. True b. False
Average inventory is calculated as the (maximum inventory + minimum inventory) / 2 in ______.
a. only the EPQ model b. only the EOQ model c. both EPQ and EOQ models d. neither EPQ nor EOQ models