Where a partnership agreement provides for the sharing of profits but is silent as to how losses are to be shared, ________.
A. losses are shared in the same proportion as profits
B. losses are shared in greater proportion than profits
C. profits are shared in greater proportion than losses
D. losses are absorbed by the partnership entity rather than borne by the individual partners
Answer: A
You might also like to view...
Retail and service organizations should ________.
A. communicate their internal problems to customers B. respond to customer complaints using "company policy" as an excuse C. establish policies and procedures that are flexible D. focus on attracting new customers instead of trying to retain current customers
Which of the following statements about sales call objectives is true?
A. The sales call objective is the main purpose of a salesperson's contact with a prospect. B. A sales call objective is only necessary when making formal presentations. C. Sales call objectives should primarily benefit the salesperson. D. A sales call objective is usually too complex to modify once a sales call has developed. E. A customer profile must be developed before making a sales call objective.
A trial balance is useful because it indicates that
a. owners' equity is correct. b. net income is correct. c. all entries were made correctly. d. total debits equal total credits.
The client's attorney the client the defendant's attorney and the defendant met in a room at the courthouse to file a deposition
What will be an ideal response?