A new partner may be admitted to a partnership by
A) inheriting a partnership interest
B) contributing assets to the partnership
C) purchasing a specific quantity of assets from the partnership
D) the consent of the majority of the current partners
B
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Seaworthy Designs manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Seaworthy uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:
Direct materials: 4 pounds per unit; $6 per pound Direct labor: 4 hours per unit; $17 per hour During the first quarter, Seaworthy produced 4000 units of this product. Actual direct materials and direct labor costs were $66,000 and $328,000, respectively. For the purpose of preparing the flexible budget, what is the total standard direct labor cost at a production volume of 4000 units? A) $68,000 B) $66,000 C) $272,000 D) $328,000
The president's cabinet is made up of heads of executive and independent committees
a. True b. False
An investor just purchased a 10-year, $1,000 par value bond. The coupon rate on this bond is 8 percent annually, with interest being paid every six months. If the investor expects to earn a 10 percent simple rate of return on this bond, how much should the investor pay for it?
A. $1,122.87 B. $1,003.42 C. $875.38 D. $950.75 E. $877.11
Grease & LubricantsInc makes its products without required pollution control technology, causing a discharge of oily waste into the nearby Holly Lake. This activity can re¬sult in
a. a criminal fine or imprisonment only. b. a criminal fine, imprisonment, or an injunction only. c. a criminal fine, imprisonment, an injunction, or damages. d. an injunction only.