Details of the division of net income for a partnership should be disclosed
a. in the assets section of the balance sheet
b. in the partners' subsidiary ledger
c. in the statement of cash flows
d. in the partnership income statement
d
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Systems development is separated from data processing activities because failure to do so
a. weakens database access security b. allows programmers access to make unauthorized changes to applications during execution c. results in inadequate documentation d. results in master files being inadvertently erased
Which of the following statements is true of limited liability partnerships (LLPs)?
A. The partners are not required to file an LLP form with the state. B. They necessitate that all existing partnerships be dissolved. C. They are relatively difficult to organize around an existing partnership. D. The partners maintain an adequate amount of professional liability insurance.
Unbiased evidence that is supported by empirical findings is ________
A) objective evidence B) a theory C) an analytical model D) none of the above
Allen's Ark sells 2100 canoes per year at a sales price of $470 per unit. Allen's sells in a highly competitive market and uses target pricing. The company has calculated its target full product cost at $750,000 per year. Total variable costs are $250,000 per year and cannot be reduced. Assume all products produced are sold. What are the target fixed costs?
A) $987,000 B) $237,000 C) $250,000 D) $500,000