Harold and Zack have pooled their money together to buy real estate but have filed no formal papers to form a business. Harold, a lawyer, handles all the legal matters and Zack, a real estate broker, finds buyers for the property they have subdivided. Harold and Zack are engaged in a
a. partnership.
b. close corporation.
c. limited liability company.
d. professional corporation.
a
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A list showing the amount due to each supplier as of a specified date is known as a
a. schedule of accounts receivable; b. trial balance; c. schedule of accounts payable; d. balance sheet; e. purchase requisition.
Henri's group is in the process of deciding on the ground rules that will govern group behavior. Which stage is his group at?
A. forming B. performing C. reforming D. storming E. norming
During the transition period of the sale of an existing business, the new owner should spend significant time being visible in the business, talking with employees, making suggestions, and doing some of the more menial work.
Answer the following statement true (T) or false (F)
An airline stocking up on fuel when prices are low in anticipation of rising prices is building up?
a. Cycle inventory b. Hedge inventory c. Safety stocks d. Transportation inventory