"Partnership property" is the sum of the partnership's assets, including all property acquired by a partnership
a. True
b. False
Indicate whether the statement is true or false
True
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Bergman Inc Bergman Inc has the following product information available: Sales price $20 per unit Variable costs $8 per unit Fixed costs $18,000 Units produced and sold 12,000 Refer to the Bergman Inc information above. How many units need to be sold in order to earn a target profit of $180,000?
A) 24,750 units B) 16,500 units C) 20,842 units D) 22,500 units
Jane, Kelly, and Lois are partners in an accounting firm in a state that has adopted the RUPA. Jane intends to retire and withdraw from the partnership at the end of the year. Jane is liable to the firm's creditors:
a. for a partnership obligation incurred within two years after dissociation if the partnership did not dissolve and if at the time of entering into the transaction the other party reasonably believed Jane was then a partner. b. only for all debts incurred prior to her retirement. c. until the day of her retirement when she will be absolved of all liability. d. for an amount not to exceed her partnership interest on the day of her retirement. e. for an amount not to exceed her initial capital contribution to the partnership.
If the activity level increases, then one would expect the fixed cost per unit to increase as well.
Answer the following statement true (T) or false (F)
Joanne's colleagues praise her ability to remain calm under all circumstances. Joanne is confident about her professional skills and can perform well under pressure. Which of the following Big Five personality dimensions is best reflected by Joanne in this scenario?
A. High adjustment B. High openness to experience C. Weak surgency D. Weak conscientiousness