The Apparent Authority of a Partner to Bind the Partnership

question 38

Multiple Choice

The apparent authority of a partner to bind the partnership in dealing with third parties:

• A)would permit a partner to submit a claim against the partnership to arbitration.
• B)must be derived from the express powers and purposes contained in the partnership agreement.
• C)will be effectively limited by a formal resolution of the partners of which third parties are aware.
• D)will be effectively limited by a formal resolution of the partners of which third parties are unaware.

Understand the double-declining-balance method of depreciation.

Understand the sum-of-the-years-digits method of depreciation.

Calculate annual depreciation expenses for various types of assets.

Calculate book value at the end of a given period using different depreciation methods.

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