Nathan Long Is Entering into a Partnership with Terri

question 36

Multiple Choice

Nathan Long is entering into a partnership with Terri. Nathan is investing $4,000 cash and equipment currently on Nathan's books at $16,000 and accumulated depreciation of $4,000. The equipment has a fair market value of $10,000. The entry to record Nathan's investment should be to:

• A) debit Cash $4,000; debit Equipment $16,000; credit Accumulated Depreciation $4,000; credit Long, Capital $16,000.
• B) debit Cash $4,000; debit Equipment $10,000; credit Accumulated Depreciation $4,000; credit Long, Capital $10,000.
• C) debit Long, Capital $12,000; debit Accumulated Depreciation $4,000; credit Cash $4,000; credit Equipment $12,000.
• D) debit Cash $4,000; debit Equipment $10,000; credit Long, Capital $14,000.

Identify the different financing methods including crowdfunding for securing early-stage funding for new-product development.

Understand the principles of insider trading and its consequences.

Identify the roles and obligations of directors, officers, and significant shareholders in a publicly traded company.

Recognition of the key securities regulatory bodies and their filing systems in Canada.

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Definitions:

Pons

A portion of the brainstem that plays a key role in controlling breathing, communication between different parts of the brain, and sensations such as hearing, taste, and balance.

Medulla

A part of the brainstem involved in autonomic functions, such as heartbeat and breathing.

Respirator

A device designed to protect the wearer from inhaling harmful substances, such as dust, smoke, or fumes, or to ensure a safe breathing environment in areas with contaminated air.

Reticular Formation

A complex network of nerve pathways in the central nervous system that plays a key role in controlling arousal and alertness.