Campbell Soup recently joined forces with Hong Kong-based Swire Pacific to form an entity called Campbell Swire to better distribute the company's soups in China. This is an example of ________

Which of the following statements with respect to the Partnership Act is TRUE?

A) The Partnership Act overrides any provisions contrary to it set out by the partners in a partnership agreement. B) The Canadian Partnership Act was enacted by Parliament and created a uniform and cohesive system of partnership law for all of Canada. C) The Partnership Act states clearly that a partnership is only created by specific agreement between the partners to that effect. D) The Partnership Act sets out provisions that will govern the relationship between the partners unless those partners have agreed otherwise. E) None of the above.

A $60,000 outlay for a new machine with a usable life of 15 years is an operating expenditure that would appear as a current asset on a firm's balance sheet

Indicate whether the statement is true or false