Engineering Economics
Which is true about partnership?

It has a perpetual life.
It can be handed down from one generation of partners to another.
Its capitalization must be equal for each partner.
It will be dissolved if one of the partners ceases to be connected with the partnership.

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Engineering Economics
Which is NOT an essential element of an ordinary annuity?

The first payment is made at the beginning of the first period.
Compound interest is paid on all amounts in the annuity.
The payments are made at equal interval of time.
The amounts of all payments are equal.

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