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NEW QUESTION: 1
Downs, Frey, and Vick formed the DFV general partnership to act as manufacturers' representatives. The
partners agreed Downs would receive 40% of any partnership profits and Frey and Vick would each
receive 30% of such profits. It was also agreed that the partnership would not terminate for five years.
After the fourth year, the partners agreed to terminate the partnership. At that time, the partners' capital
accounts were as follows: Downs, $20,000; Frey, $15,000; and Vick, $10,000. There also were
undistributed losses of $30,000.
Which of the following statements about the form of the DFV partnership agreement is correct?
A. It could be oral because the partnership did not deal in real estate.
B. It could be oral because the partners had explicitly agreed to do business together.
C. It must be in writing because partnership profits would not be equally divided.
D. It must be in writing because the partnership was to last for longer than one year.
Answer: D
Explanation:
Choice "a" is correct. Under the statute of frauds, an agreement, which by its terms cannot be performed
within a year, must be evidenced by a writing containing the material terms and signed by the parties to
be charged. Absent a writing, the partnership will be treated as a partnership at will. Choice "b" is incorrect.
There is no requirement that partnership agreements be in writing merely because profits will be divided
unequally. Choice "c" is incorrect. The statute of frauds requires contracts that cannot by their terms be
performed within one year to be evidenced by a writing containing the material terms and signed by the
parties to be charged. Choice "d" is incorrect. Whether or not a partnership is to deal in real estate is
irrelevant to whether the partnership agreement must be in writing.
NEW QUESTION: 2
An application is being developed that will be served across a fleet of Amazon EC2 instances, which require a consistent view of persistent data. Items stored vary in size from 1KB to 300MB; the items are read frequently, created occasionally, and often require partial changes without conflict. The data store is not expected to grow beyond 2TB, and items will be expired according to age and content type.
Which AWS service solution meets these requirements?
A. An EC2 instance store synced on boot from a central Amazon EBS-backed instance.
B. Amazon EFS and a scheduled process to delete files based on age and extension.
C. Amazon S3 buckets with lifecycle policies to delete old objects.
D. Amazon RDS PostgreSQL and a job that deletes rows based on age and file type columns.
Answer: B
Explanation:
https://dzone.com/articles/confused-by-aws-storage-options-s3-ebs-amp-efs-explained You can mount EFS onto several EC2 instances at the same time.
NEW QUESTION: 3
When the goods receipt for a finished product is posted during confirmation on a manufacturing
environment, which of the following actions are also performed by default?
There are 2 correct answers to this question.
Response:
A. Posting of production costs to cost collector
B. Reduction of the capacity requirements
C. Staging of components for the next order in the sequence
D. Archiving of backflush documents
Answer: A,D
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