Dennis and Claudia were partners who operated a retail store. They agreed to end the partnership. Dennis agreed to stay at the store and oversee the going-out-of-business sale. Claudia agreed to deal with the accountants and other matters not directly related to the hands-on operation of running the store. Claudia received notice that the store's liability policy would expire on July 1. She decided not to renew the policy and let it lapse. The going-out-of-business sale would not be completed until August 1. In July, a customer slipped and fell in the store. When Dennis learned that Claudia had allowed the liability policy to lapse, he was very upset and claimed he should not be liable for the customer's injury. Is Dennis liable to the customer

For each example identify the most appropriate ctso

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

Money from an allowance or job is known as .