How do the courts determine the members of a common enterprise?
What will be an ideal response?
In determining whether persons or firms are members of a common enterprise, courts look at the intent of the parties. If the parties have not entered into a formal agreement creating a partnership or joint venture, the courts will consider several factors in determining intent, including (1) sharing of profits or losses, (2) sharing in the management, and (3) joint ownership of the business.
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Links Cable Network has decided to offer a one-hour appointment window for customers needing installation or repair of its service, which will require the company to have several technicians on call. Links hopes this practice will give it an advantage over the competition, none of which have adopted such a practice. Links Cable Network is introducing a(n) ______ change.
A. reactive B. innovative C. radically innovative D. adaptive E. active
Which of the following statements is correct regarding partnerships?
A) Accounting for a partnership is similar to accounting for a sole proprietorship. B) If the partnership assumes a liability related to an asset invested in the partnership, the asset is debited, the partner's capital account is credited and a liability account is credited. C) It is necessary to maintain separate Capital and Withdrawals accounts for each partner. D) All of these choices.
In acceptance sampling, the proportion defective that the buyer will allow in an incoming shipment is:
A) the acceptable random sample (ARS). B) the upper control limit (UCL). C) the lower control limit (LCL). D) the acceptable quality level (AQL).
The logical view of information focuses on how individual users logically access information to meet their own particular business needs.
Answer the following statement true (T) or false (F)