The basis on which profits and losses are to be shared is a matter of agreement between the partners and not necessarily the same as their investment ratio
a. True
b. False
Indicate whether the statement is true or false
True
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Use the information below for Barton Shipping Corp for 2015 and 2016 to answer the following question. Retained earnings, December 31, 2015 $300,000 Retained earnings, December 31, 2016 345,000 Dividends payable, December 31, 2015 19,000 Dividends payable, December 31, 2016 29,000 Net income—2016 150,000 How much cash did Barton Shipping pay for dividends during 2016?
a. $ 95,000 b. $105,000 c. $115,000 d. $140,000
U.S. GAAP and IFRS distinguish between revenues and expenses on the one hand and gains and losses on the other. Which of the following is/are not true?
a. Revenues and expenses result from the recurring, primary operating activities of a business. b. Income items include the ordinary, recurring operating activities of the firm. c. Gains and losses result from either peripheral activities or nonrecurring activities. d. The reporting of revenues and expenses are at gross amounts, and firms report gains and losses at net amounts. e. Gains and losses result from the recurring, primary operating activities of a business.
After a series of embarrassing and unprofessional actions by her marketing team, Ming wants to ethically align personal and corporate goals within her firm. What general and specific actions will she need to take?
What will be an ideal response?
Which labor law ended sweetheart contracts and was called the union members’ bill of rights?
a. the Taft-Hartley Act b. WARN c. the Wagner Act d. the Fair Labor Standards Act e. the Landrum-Griffin Act