Major linen purchase on open account, Financial Management

Assignment Help:

that the business has far fewer linens than it needs, so he makes a major linen purchase on open account. Which of the following terms refers to the fact that partners Ma and Running-Buck are just as liable for this purchase as McFarlane?

Answer

a. mutual agency

b. Unlimited liability

c.synergy

d.liquidation


Related Discussions:- Major linen purchase on open account

Common-size statement value, A firm has sales of $6,500, net income of $500...

A firm has sales of $6,500, net income of $500, total assets of $12,000, and total equity of $700. Interest expense is $1000. What will be the common-size statement value of the in

Cost of capital, ABC Ltd. Produces electronic components with a selling pri...

ABC Ltd. Produces electronic components with a selling price per of Rs.100. Fixed cost amount to Rs.2,00,000/- 5000 units are produced and sold each year. Annual profits amount to

State the term - redemption, State the term - Redemption Redemption is ...

State the term - Redemption Redemption is repayment of debt security at or before maturity.  Redemption could at par or at a premium to face value. A debt security will be rede

Do you agree or disagree with this statement, Companies with rapidly growin...

Companies with rapidly growing levels of sales do not need to worry about raising funds from outside the firm.  Do you agree or disagree with this statement?  Explain. Disagree

Explain about loans - forms of bank finance, Q. Explain about Loans - Forms...

Q. Explain about Loans - Forms of Bank Finance? When a bank makes an advance in lump-sum against some security it is called a loan. In Case of a loan, a specified amount is san

NPV calc, Capital cost of product a is ? 5 crores and initial capital cost ...

Capital cost of product a is ? 5 crores and initial capital cost of product b is ? 3 crores. Life of product a is 30 years and life of product b is 10 years . The difference in ini

Determine the working capital in the firm, a) Year 2 Current Ratio = 700 / ...

a) Year 2 Current Ratio = 700 / 300 = 2.33 : 1 Year 1 Current Ratio = 500 / 200 = 2.5 : 1 Year 2 Acid Test = (700 - 350) / 300 = 1.17 : 1 Year 1 Acid Test = (500 - 250) / 200 =

What is certified financial planner, Q. What is Certified Financial Planner...

Q. What is Certified Financial Planner? Certified Financial Planner (CFP) - Individuals who are trained to develop and implement financial plans for businesses, individuals and

Convexity, Duration is good measure while estimating the percentage p...

Duration is good measure while estimating the percentage price change for a small change in interest rates but the estimation becomes inferior with the larger cha

International financial management - a European perspective , To whom it ma...

To whom it may concern, I wanna someone to help me to get prepared for my exam. is it possible to work together? 1. Managerial Aspects of the Market for Foreign Exchange

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd