The bicycles are not being used for deliveries is it

Assignment Help Finance Basics
Reference no: EM13477164

Tim and Tom are twins. They live and work near the beach and are also partners in TnT, Inc., a bicycle messenger service. When deliveries are few, especially in the summer, Tom without telling Tim, rents the extra bicycles to tourists who want to explore the resort area. Because the bicycles aren't being used for deliveries, is it acceptable for Tom to keep the proceeds he receives from renting leasing the unused bicycles? Explain your answer based on the facts in the scenario in the context of partnership law.

Reference no: EM13477164

Questions Cloud

Tom then refuses to pay bob what recourse does bob have to : tom tells bob that he will pay bob 5000 to put a cherry bomb in his gas tank so that tom can collect money from the
Sales for the year totaled 270 units leaving 10 units on : fulbright corp. uses the periodic inventory system. during its first year of operation fulbright made the following
Promotion is one variable of marketing mix sellers : promotion is one variable of the marketing mix. sellers communicate information about their products and services in
Is signature from one of the companys a necessary part of : your company inc. wants to do business with my company llc. because our companies are both savvy they would like to
The bicycles are not being used for deliveries is it : tim and tom are twins. they live and work near the beach and are also partners in tnt inc. a bicycle messenger service.
Discuss in detail how you would use the new-product : explain in detail how you would use the new-product development process if you were thinking about offering some kind
At the end of the year the company had net assets of 300000 : execon company had total assets of 200000 total liabilities of 110000 and shareholders equity of 90000 at the beginning
Explain an example of vertical integration in your city or : find an example of vertical integration within your city or a city you know. are there any particular advantages to
A summarized income statement for leveraged inc is : question a summarized income statement for leveraged inc. is presented below.sales 1000000cost of sales 600000gross

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd