Gary and Herman are partners in a lawn mower repair business in Ohio. While Gary is on vacation, visiting his sister in Georgia, his sister's neighbor has trouble with her mower and Gary fixes it for her. She insists on paying him. Gary
a. may keep the payment since he did the work while he was on vacation.
b. must turn the money over to the partnership because he earned it doing the kind of work that the partnership does.
c. may not accept the money because it would create a conflict of interest.
d. may not accept the money because it would mean he was taking a business opportunity away from the partnership.
b
You might also like to view...
The ______ is a formalized structure based on centralization and departmentalization.
A. organic model B. span of control C. bureaucracy structure D. mechanistic model
(Use the information about Dominick Inc to answer this question.) In preparing the statement of cash flows using the T-account worksheet, the accountant
a. subtracts the $400 gain from net income in computing cash flow investment activities. b. adds the $400 gain to net income in computing cash flow from investment activities. c. subtracts the $400 gain from net income in computing cash flow from operations. d. adds the $400 gain to net income in computing cash flow from operations. e. adds the $400 gain to retained earnings in computing cash flow investment activities.
Which of following statements is false?
A) A preexisting conditions clause can make it easy for you to change insurers. B) A coinsurance clause may require that you pay a specified percent of you medical expenses. C) If your coverage is guaranteed renewable, your coverage will continue as long as you pay your premiums. D) A comprehensive health insurance policy can limit the total amount paid out under the policy.
A series of steps or procedures that are repeated is known as an algorithm
Indicate whether the statement is true or false