The division of partnership profits on the basis of salaries, interest, and a stated ratio is usually necessary because
A) partners seldom contribute time, effort, and resources equally.
B) this prevents arguments among the partners.
C) this reflects the amount of time devoted to the partnership by the partners.
D) most states require this method of distribution.
A
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All appendices should be
A) listed in the table of contents but not mentioned in the text of the report. B) mentioned in the text of the report but not listed in the table of contents. C) mentioned in the text of the report and listed in the table of contents. D) included in the index but not listed in the table of contents. E) printed in a font that is different from the rest of the report.
Firefly Inc sold land for $225,000 cash. The land had been purchased five years earlier for $275,000 . The loss onthe sale was reported on the income statement. On the statement of cash flows, what amount should Firefly reportas an investing activity from the sale of the land?
a. $225,000 b. $275,000 c. $50,000 d. $500,000
When James sells Tiromat Powerpak, a packaging machine for forming, filling and sealing food products, he begins by telling the customer, "Everyone in the food industry would like to save money and time on equipment cleaning." Then he says, "With the Tiromat Powerpak, you have a machine that can be disassembled for high-pressure cleaning and then reassembled more quickly than any other machine currently on the market." In conclusion, Tiromat says, "Thus, I believe that you need to buy our new Powerpak packaging machine." James is using ________ to sell his machines.
A. suggestive propositions B. sell sequence C. logical reasoning D. persuasive communication E. direct suggestion
When using the net present value method to compare keeping an old building or disposing it and acquiring a new building, the current cash residual value of the old building should be
A) deducted from the price paid for the new building. B) viewed as a cash outflow. C) added to the price of the new building. D) irrelevant to the decision.