Ofelia and Teresa share income and losses in a 2:1 ratio after allowing for salaries to Ofelia of $48,000 and $60,000 to Teresa. Net income for the partnership is $132,000. Income should be divided as follows:
A) Ofelia, $56,000; Teresa, $76,000
B) Ofelia, $60,000; Teresa, $72,000
C) Ofelia, $72,000; Teresa, $60,000
D) Ofelia, $64,000; Teresa, $68,000
D
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The cost of an internally developed unidentifiable intangible is expensed as incurred. Accordingly, which one of the following costs would be expensed in the year it was incurred?
A) legal cost of obtaining a patent B) cost of improvements with a three-year life made to an asset that is being leased by the company for a five-year period C) costs of developing new software products with proven technological feasibility D) Costs of developing knowledge and skill levels for new management-level employees
Earnings per share, often called net income per share, is the net income earned on each share of common stock
Indicate whether the statement is true or false
The probability distribution for the daily sales at Michael's Co. is given below. ? ? Daily Sales ($1,000s) Probability ? 40 0.2 ? 50 0.4 ? 60 0.3 ? 70 0.1 ? The expected daily sales are
A. $53,000. B. $55,000. C. $50,000. D. $60,000.
American Airlines conducts ongoing in-flight surveys to assess passengers' perceptions of the ticket buying process, gate agents, flight attendants, food and beverage service, condition/comfort of airplanes and adherence to departure/arrival schedules. American Airlines' research provides feedback on ________ measurements.
A. Formal B. Informal C. Basic D. Soft E. Hard