BUSINESS LAWS AND REGULATIONS SEATWORK NO. 1
October 16, 2021
Due: 4PM

1.Q: Jose entered into a verbal agreement with Francisco to form a partnership for the purchase of cascoes for a proposed boat rental business. It was agreed that Francisco would buy the cascoes and each partner is to furnish such amount of money as he could, and that the profits will be divided proportionately. After Francisco purchased a casco with the money advanced by Jose, they undertook to draft the articles of partnership and embody the same in an authentic document. However, they did not come to an agreement. So, Francisco returned the money advanced by Jose, which the latter
received with an express reservation of all his rights as a partner.
1. Was there a partnership formed between Jose and Francisco?
2. If such partnership existed, was it terminated by the receipt of Jose of the money he advanced?

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Susan is a 5th grade teacher and loves getting up every day and going to work to teach her students. this is an example of a. extrinsic value b. interests c. intrinsic value d. external value

What resourse is both renewable and inexpensive? gold coal lumber mineral