Engineering Economics
In case of bankruptcy of a partnership,

The partners nay sell stock to generate additional capital
The partners personal assets are attached to the debt of the partnership
The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
The partners are not liable for the liabilities of the partnership

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Engineering Economics
Pick up the correct statement regarding financial statement analysis from the following.

The balance sheet is the summary of assets, liabilities and owner's equity of business at a point in time
All listed here
Final analysis always involves the use of various financial statements i.e., balance sheet and income statement
The income statement is the summary of revenues and expenses of a firm over a particular period of time

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Engineering Economics
Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.

50% of the fixed percentage of gross income or 50% of the net taxable income
50% of the fixed percentage of gross income or the net taxable income
Fixed percentage of gross income or 50% of the net taxable income
Fixed percentage of gross income or the net taxable income

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