James was a partner in a large firm. He died unexpectedly. His son, Frank, wanted to take over for his father in the partnership and was well qualified to do the work his father had done. Which statement best describes Frank's rights in the partnership if he inherits the interest?
A)Frank has a right to take over for his father in the partnership.
B)Frank is entitled to the value in the partnership, but not to become a full partner.
C)Frank has no rights to his father's partnership interest.
D)Frank cannot be a full-fledged partner, but he can vote on firm matters.
B
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Marcos Company reported the following items on its financial statements for the year ending December 31, 2016: Sales $ 560,000 Cost of goods sold $400,000 Salary expense 40,000 Interest expense 30,000 Dividends 20,000 Income tax expense 25,000 How much will be reported as retained earnings on Marcos' balance sheet at December 31, 2016, if this is the first year of operations?
a. $ 45,000 b. $ 65,000 c. $ 85,000 d. Not enough information is provided.
The tendency to be tense, moody, irritable, and temperamental is called
a. Neuroticism b. Extraversion c. Agreeableness d. Conscientiousness
Because people dress so differently, most dress codes have to discriminate in some way against men or women.
Answer the following statement true (T) or false (F)
A(n) ________ is a document that is filed with the state that designates a trade name of a business.
A. registration of fabricated name B. fictitious business name statement C. articles of incorporation D. certificate of false trademark