In the distribution of income, the net income is less than the salary and interest allowances granted; the remaining balance will be a negative amount that must be divided among the partners as though it were a loss
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
When a customer says, "I would rather not tie up my money in a large order," the resistance most likely falls into which category?
A) time B) product C) price D) source E) process
What is a guideline/caution when working with the Chinese on projects?
Fill in the blank(s) with the appropriate word(s).
Evergreen Company has two investment opportunities. Both investments cost $5,000 and will provide the same total future cash inflows. The cash receipt schedule for each investment is given below: Investment I Investment IIPeriod 1 $1600? $4320? Period 2 1600? 2960? Period 3 2960? 2960? Period 4 5440? 1360? Total $11,600? $11,600? Select the correct statement.
A. Evergreen should choose Investment I because of the time value of money. B. Time value of money techniques are not useful for comparing these investments. C. Evergreen should be indifferent between the two investments because they provide the same total cash inflows. D. Evergreen should choose Investment II because it generates more immediate cash inflows.
Solomon filed a complaint stating: "I was driving my 2000 Lexus carefully and under the speed limit on Sunrise when I came to the intersection of Sunrise and Madison. Garcia was driving his 2002 Ford Pickup on Madison when he ran a red light and collided with my Lexus, causing damages to the Lexus. I demand $12,000 from McKinsey to pay for the damages to my Lexus and $10,000 for medical bills and
lost wages.". Solomon has made a claim for a. nominal damages. b. compensatory damages. c. punitive damages. d. penal damages.