When a partnership is formed, assets contributed by the partners should be recorded on the partnership books at their
a. book values on the partners' books prior to their being contributed to the partnership
b. fair market value at the time of the contribution
c. original costs to the partner contributing them
d. assessed values for property tax purposes
b
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Beverly has just attended a seminar on the self-management process for salespeople. Briefly describe the four stages of the self-management process she learned about at the seminar.
What will be an ideal response?
After a college football game, a box score is produced detailing the number of yards passing and running, receptions made and the number of interceptions and fumbles lost (among other statistics). Using the characteristics of useful information (including relevance and reliability), please explain how this box score meets (or does not meet) the characteristics of useful information. How would the football coach use this information to prepare for the next game, decide which players to start, etc.?
What will be an ideal response?
Which of the following is a key ‘contingency’?
a. Size b. Technology c. Environment d. All of the above
The Dodd-Frank Act of 2010:
a. requires that lenders ensure borrowers will repay their mortgage loans. b. prohibits unfair and deceptive lending practices, although subprime mortgages are excluded from the scope of the Act. c. expands protection for borrowers of high-cost mortgage loans. d. requires that lenders disclose the minimum amount a consumer could pay on a variable rate mortgage.