If the partnership agreement is silent on the matter, which of the following is true regarding management of the partnership?
a. Each partner has an equal right to manage the business.
b. Partners have a right to manage the business in proportion to their capital contributions.
c. Partners rotate yearly the responsibility of managing the business.
d. An arbitrator will determine which partner is most capable of running the business.
a
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Margin per unit equals ________
A) demand x sales B) total sales contribution - marketing and sales expenses C) price - fixed unit cost D) price - variable unit cost E) price - total unit cost
Answer the following statements true (T) or false (F)
1.An ego conflict occurs when two parties disagree over matters of fact. 2.Indirect and passive in how they approach conflict, compromisers tend to trivialize it by glossing over differences and downplaying disagreements. 3.Collaborators see conflict as a means of improving relationships. 4.Parties to a conflict who lack openness usually are unconcerned with the other’s feelings, believing that it is unnecessary that each party to the conflict benefit from a positive outcome. 5.Through role reversal, in which each person imagines him- or herself as the other, the parties come to understand each other, discover creative ways to integrate their interests and concerns, and work toward a common goal.
Which of the following statements concerning contingencies is true?
A) Contingent liabilities are always recorded in the body of the financial statements. B) Contingent liabilities are always disclosed in the footnotes to the financial statements. C) Contingent gains are sometimes recorded in the body of the financial statements. D) Contingent gains are sometimes disclosed in the footnotes to the financial statements.
Doug is shown a series of pictures of faces seen from different angles. He is able to recognize that the pictures are of the same woman. Doug is easily able to do what a sophisticated computer program is unable to do because he makes use of _____.
Fill in the blank(s) with the appropriate word(s).