Safe-T Guard Services Enters into a Contract to Secure Taylor's

question 33

Multiple Choice

Safe-T Guard Services enters into a contract to secure Taylor's Business Park from vandalism and theft between 6 p.m.and 6 a.m.nightly for six months.At the end of the term,if there has been no vandalism or theft in the Park,Safe-T's performance will have been

• A)absolute.
• B)complete.
• C)conditional.
• D)substantial.

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Definitions:

Withdraws Cash

The process of taking out money from an account, which decreases the account balance.

Partnership Capital

Partnership capital represents the total equity invested by all partners in a partnership firm, reflecting their pooled capital contributions to the business.

Bonus

When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.

Fair Market Value

The value at which an asset would be sold in a competitive bidding environment.