The formation of interstate limited partnerships is governed by the Federal Uniform Partnership Act
a. True
b. False
Indicate whether the statement is true or false
False
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If accounts payable have increased during a period,
a. revenues on an accrual basis are less than revenues on a cash basis b. expenses on an accrual basis are less than expenses on a cash basis c. expenses on an accrual basis are the same as expenses on a cash basis d. expenses on an accrual basis are greater than expenses on a cash basis
A _____ is a price reduction offered to a consumer, an industrial user, or a marketing intermediary in return for prompt payment of a bill.
A. cash discount B. quantity discount C. functional discount D. seasonal discount
On the income statement of a merchandising company, cost of goods is added to net sales to arrive at gross margin or gross profit
a. True b. False Indicate whether the statement is true or false
Products should be designed to ensure ______ time between failures.
A. short B. equal C. long D. unequal