Which of the following statements is TRUE of partnerships?
A) If the partners have no partnership agreement specifying how to divide profits and losses, then they
share profits and losses equally.
B) It is legally required to share the profit and losses equally, irrespective of the partnership agreement.
C) The stated ratio of profit sharing needs to be approved by the SEC.
D) The profit sharing is always based on each partner's capital balances and any losses will be shared
equally.
A) If the partners have no partnership agreement specifying how to divide profits and losses, then they
share profits and losses equally.
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In which of the following situations should a decision maker most consider adjusting the virtuous decision based on more pragmatic concerns?
a. Utilitarianism, deontology, and virtue ethics are in alignment AND the action they recommend will result in job termination or material loss for the decision maker. b. Utilitarianism, deontology, and virtue ethics are in alignment AND the action they recommend is illegal. c. All of the theories options disagree with virtue ethics and deontology AND the virtue ethics path is illegal. d. Virtue ethics has an interpretation that counters all the other issues, but the virtuous path will protect or benefit the decision maker.
Many nations, especially those of Latin America, follow the ______ Doctrine, which holds that contractual dispute cases should be tried under local, and not foreign, law.
Fill in the blank(s) with the appropriate word(s).
A firm offer is effective for three months, but only if the merchant receives consideration
Indicate whether the statement is true or false
A multiple regression model involves 5 independent variables and a sample of 10 data points. If we want to test the validity of the model at the 5% significance level, the critical value is:
a. 6.26 b. 3.33 c. 9.36 d. 4.24