Profit is the difference between sales and revenues

Indicate whether the statement is true or false

FALSE

Business

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A partnership cannot be dissolved except in the case of the general partner's expressed wish that the partnership cease

Indicate whether the statement is true or false.

Business

The benefits of a lockbox arrangement with a bank are maximized when

A) the bank is located nearby to the company, so remittance advices can be delivered to the company every day. B) several banks around the country are used, in order to minimize the time payments spend in the mail. C) an arrangement is made with only one bank, so all remittance advices can be batched for processing. D) the bank deposits the payments and accesses the customer's information system to record the payments.

Business