Under the Uniform Partnership Act (1997), partners do not have the right to
A. an equal share in the profits of the partnership.
B. participate in the management of the partnership.
C. receive a salary paid by the partnership.
D. inspect the books and records of the partnership.
C. receive a salary paid by the partnership.
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If inventory is excessive, which item below is not true?
A) Solvency is reduced. B) Taxes increase. C) Ordering costs increase. D) Storage costs increase.
Jim agreed to show Donna's car to a potential buyer. Donna was not able to be home since she had to attend a meeting. After showing the car, Jim left the keys in it and the car was stolen. Which statement is correct?
a. Since Jim is a gratuitous agent, he will only be liable for the loss of the car if his conduct constitutes gross negligence. b. Since Jim is a gratuitous agent, he will be liable for the loss of the car if his conduct constitutes ordinary negligence. c. Since Jim is a gratuitous agent, he has no liability for the car. d. Since Jim is a gratuitous agent, he is strictly liable for the loss of the car.
Gross profit represents the mark-up on ________
A) sales revenue B) merchandise inventory C) operating expenses D) transportation cost
In __________________________ global brands succeed because they offer something new.
a. New markets b. Advanced markets c. Emerging markets d. Global markets