Guy and Hanna Do Business as G-H Associates

question 12

Multiple Choice

Guy and Hanna do business as G-H Associates.If G-H is a partnership,it is governed by the Uniform Partnership Act

• A)in the absence of an express agreement.
• B)in the absence of an implied agreement.
• C)only in the presence of an express agreement.
• D)under all circumstances.

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Definitions:

Fringe Benefit

Additional compensation provided to an employee beyond their regular salary, such as health insurance, pension plans, and paid time off.

Wage Controls

Government-imposed limits on the wages that can be offered or paid to workers within an economy.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations.

Medicare

A federal program that provides for (1) compulsory hospital insurance for senior citizens, (2) low-cost voluntary insurance to help older Americans pay physicians’ fees, and (3) subsidized insurance to buy prescription drugs. Financed by payroll taxes.