Which of the Following Would Be the Most Convincing Evidence

question 49

Multiple Choice

Which of the following would be the most convincing evidence of a partnership?

• A) An agreement to share in the management of a business
• B) Agreements to share gross returns
• C) An agreement to share losses
• D) An agreement to pay a firm manager a percentage of the profits for his salary

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Definitions:

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement, often as a part of financial audits.

Schedule Variance

A measure in project management that compares the actual work performed against the work scheduled.

ETC

Stands for "Estimated Time of Completion," referring to the forecasted date and time when a project or task is expected to be finished.

Estimates

Approximations calculated to predict the potential costs, durations, and resources required for projects.