Heinz Klein is a mechanic. Bettina Lopez has some money to invest. They agree that Bettina will lend money to Heinz to buy cars at government sales, fix them up and sell them. They will split the profits
Bettina says that she wants to have nothing to do with the operation of the business. They agree that they will not be partners. Which of the following is TRUE?
A) They are not partners because they have specifically agreed not to be partners.
B) They are partners because they are sharing profits from a business on a continual basis.
C) Bettina is a limited partner and will not be liable for partnership debts beyond her investment.
D) The partnership is not registered as a limited partnership so Bettina will be liable for partnership debts.
E) Both B and D
E
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The cash balance in a company's general ledger and the bank's balance on the bank statement will always be the same
Indicate whether the statement is true or false
At the beginning of a research project, you need to
A) develop a formal outline that you plan to stick to throughout your researching and writing. B) familiarize yourself with the subject. C) just jump in by finding resources on the Internet and taking notes. D) develop the conclusion you want to reach and start looking for evidence that supports that conclusion. E) try Google to see if it provides enough information, and if not proceed to databases and other sources.