Which of the following holds true for a general partnership if the partners have not entered into a written agreement?
A) Partners are required to contribute equal capital to the partnership and bear equal responsibilities.
B) Individual partners are exempted from federal income taxes because those taxes are paid by the partnership.
C) Partners are required to file a partnership return with the Internal Revenue Service that shows the partnership's profit or loss.
D) The partnership is double-taxed because both the partnership and the individual partners pay taxes.
C
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Trading securities were sold on January 3, 2018, for $65,000. Those securities were purchased for $52,000 on November 21, 2017, and they had a fair value on December 31, 2017, of $57,000. The entry to record the sale would include a
A) credit to Unrealized Holding Gain/Loss-Trading Securities of $8,000. B) debit to Unrealized Holding Gain/Loss-Trading Securities of $5,000. C) debit to Investment in Trading Securities of $5,000. D) credit to Gain on Sale of Trading Securities of $8,000.
Martin wishes to earn $4000 of operating profit each month. Calculate the number of guitars Martin will need to sell to achieve the target profit. (Round your answer up to the nearest whole guitar.)
Martin was a professional classical guitar player until a motorcycle accident left him disabled. After
long months of therapy, he hired an experienced luthier and started a small shop to make and sell
Spanish guitars. The guitars sell for $900, and the fixed monthly operating costs are as follows:
Martin's accountant told him about contribution margin ratios, and Martin understood clearly that for every
dollar of sales, $0.65 went to cover his fixed costs, and anything above that point was profit.
A) 3 guitars
B) 12 guitars
C) 4 guitars
D) 13 guitars
Avoidance reinforcement can also be called ______.
a. non-repetitive reinforcement b. coercive reinforcement c. negative reinforcement d. positive reinforcement
Canadian labor unions are moving toward a _______________________________ philosophy in which labor has a more militant, activist role in society.
Fill in the blank(s) with the appropriate word(s).