Able,Baker,and Charlie Carry on Business in Partnership as "Tree Surgeons

question 59

True/False

Able,Baker,and Charlie carry on business in partnership as "tree surgeons." Smith contacted Able,and arranged to have a large tree removed from his front yard on a Saturday morning.Able arrived,and cut the tree in such a way that it fell on Smith's house,causing considerable damage.
-Only Able would be liable,because he did not inform Baker and Charlie of the agreement he made with Smith.

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Definitions:

Scrap Value

The forecasted selling price of an asset following the expiration of its effective life.

Units-Of-Production Method

A depreciation technique that calculates an asset's expense based on its usage, output, or production, rather than the passage of time.

Straight-Line Method

A method of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Scrap Value

The estimated resale value of an asset at the end of its useful life, also known as salvage value.