Which of the following factors is not required to qualify as a partnership?
A) The carrying on of a business
B) Equal investments of effort and capital
C) An association of two or more persons
D) The sharing of profits
E) Co-ownership of the business
B
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An express warranty within the meaning of the Code is created by which of the following?
a. A sample. b. A description. c. A promise. d. All of these.
Which of the following sections of the statement of cash flows includes activities that increase and decrease long-term assets?
A) the financing activities section B) the operating activities section C) the investing activities section D) the non-cash investing and financing section
The management at Morningside Logistics & Fulfillment is in crisis mode. Their proprietary order fulfillment software has malfunctioned, and though their information technology (IT) department assures them that a solution is forthcoming, in the meantime they have a mounting backlog of unfulfilled orders. Adding to the difficulty of the situation is the fact that completion of these orders necessitates access to sensitive company information. Management's best option is to
A) inform their customers that they have experienced an IT glitch, and offer them a 20 percent discount for the entire quarter to cover any losses they might incur. B) recruit the help of talented employees within the organization, even though this will give them access to information that is normally the purview of top management alone. C) outsource the problem to a competitor, with the understanding that doing so runs the risk of giving their rival an edge over Morningside Logistics. D) bring in help from an overseas firm, despite the fact that doing so may involve a learning curve and language barrier, because this is the cheapest solution. E) attempt to solve the problem entirely at the level of top management, with the knowledge that the task is monumental and will involve working around the clock for weeks.
You have just received an endowment of $32,976. You plan to put the entire amount in an account earning 8 percent compounded annually and to withdraw $4000 at the end of each year. How many years can you continue to make the withdrawals?
What will be an ideal response?