John, Samuel, and Jim are general partners in the development of an electric car. Jim pours all his money into the project, but it never seems to work out. Eventually the partnership and Jim cannot meet their daily obligations, and the partnership is dissolved. Jim files for bankruptcy. If the partnership assets are insufficient to pay all claims against the partnership:
a. the trustee in bankruptcy must seek recovery of the deficiency first from John and Samuel.
b. Jim is released from liability because of the bankruptcy proceedings.
c. Jim's personal assets are not available for the partnership debts because he has limited liability.
d. the bankruptcy court must follow the doctrine of marshaling of assets.
a
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Discuss ways and examples of how Social Media has changed the way businesses interact with employees and stakeholders
What will be an ideal response?
Which theory is defined as the analysis of workflow through systematic observation of the tasks to be performed?
a. Scientific management b. Autonomy management c. Job design management d. Systematic management
Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $16,000 was made on credit, 3/10, n/30. The journal entry to record this purchase is:
A.
| Merchandise Inventory | 16,000? | |
| Accounts Payable | 16,000? |
B.
| Merchandise Inventory | 15,520? | |
| Accounts Payable | 15,520? |
C.
| Purchases | 16,000? | |
| Accounts Payable | 16,000? |
D.
| Purchases | 15,520? | |
| Accounts Payable | 15,520? |
E.
| Accounts Payable | 16,000? | |
| Merchandise Inventory | 16,000? |
Revenue-sharing contracts counter double marginalization by decreasing the cost per unit charged to the retailer, thus effectively decreasing the cost of understocking
Indicate whether the statement is true or false.