If the partnership agreement does not apportion profits, profits are shared in the same proportion as a partner's investment of capital in the firm.
Answer the following statement true (T) or false (F)
False
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What is the maximum threshold for a tax-exempt organization to file a form 990-N (electronic postcard) for tax years after 2011?
A. A charity with gross receipts less than $500,000. B. A charity with gross receipts less than $200,000. C. A charity with gross receipts less than $50,000. D. A charity with gross receipts less than $25,000.
Gruber Industries provides the following information about resources: Cost Driver RateCost Driver VolumeResources used Materials$12 15,000poundsEnergy 48 675machine hoursSetups 300 150setupsPurchasing 240 160purchase ordersCustomer service 160 175returnsLong-term labor 80 640labor hoursAdministrative 60 840administrative hours Resources supplied Materials$192,000 Energy 36,480 Setups 50,400 Purchasing 44,000 Customer service 35,200 Long-term labor 53,000 Administrative 54,000 In addition, sales for the period totaled $600,000.Required:Compute the unused resource capacity for each preceding item.
What will be an ideal response?
A firm currently has sales of $2,000,000 and does not offer credit. Management expects sales to rise to $2,500,000 if it offers customers thirty days to pay. Which of the following will probably happen? 1. receivables will turn over more rapidly 2. receivables will turn over more slowly 3. credit sales will increase by more than the increase in sales 4. credit sales will increase by less than the increase in sales
A. 1 and 3 B. 1 and 4 C. 2 and 3 D. 2 and 4
When investors use leverage in their own portfolios to adjust the leverage choice made by the firm, it is referred to as ________
A) outside debt B) retained earnings C) homemade leverage D) payout ratio