Engineering Economics
Which is true about partnership?

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

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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
Fixed percentage of gross income or 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

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