PROFESSIONAL EXAMINATIONS.
In a professional examination intended to determine fitness for professional recognition one would expect to find questions designed to disclose a candidate's grasp and perspective of the field of the profession. The value of a problem can be nullified quite as easily by giving too much information as it can by giving an insufficient amount. The accounts are to be kept on cash basis and immediately after the close of each calendar year an accounting is to be made of the preceding year's affairs on said cash basis; each partner is to receive in cash, to the extent available, his distributive share of the net income. Depreciation on furniture and fixtures is to be computed at the rate of 10% per annum; additions during the year on an average of six months. No interest on partners' balances or drawings is to be considered. Atlantic Seaboard Lumber Company began business on January 1, 1937, with a capital of $2,100,000 representing cash received for 12,000 preferred shares of $100 each and 180,000 common shares of $5 each.
- DOI
- 10.2308/tar-7058891
- Volume
- 13 (4)
- Pages
- 411-423
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref