A General Partnership Cannot Operate Under the Name of Any

question 16

True/False

A general partnership cannot operate under the name of any one of the partners; the name has to represent all the partners if a fictitious name is not being adopted.

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Definitions:

Capital Expenditures

Expenses incurred by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment, often to improve or maintain their long-term capacity and efficiency.

Net Cash

The amount of cash available after accounting for cash inflows minus cash outflows, reflecting a company's ability to meet its short-term obligations.

Operating Activities

Activities directly related to the principal revenue-generating activities of an organization.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense since the asset was acquired and put into use.