X is a supplier of premium coffee beans. B approached X to buy 100 kilos of the premium coffee beans. B informed X that the Coffee-is-Hot Partnership will be paying him at the end of the month. Because the partnership was very famous, X delivered the 100 kilos. Later on, X discovered that B was not a partner of the Coffee-is-Hot Partnership. What reason may X assert against the Coffee-is-Hot partnership to claim the payment for the premium coffee beans? X must go against B because B is the debtor of X. None of the above X is not required to investigate if B was truly a partner of the Coffee-is-Hot Partnership. X cannot claim from the partnership because B is not a partner.
X is a supplier of premium coffee beans. B approached X to buy 100 kilos of the premium coffee beans. B informed X that the Coffee-is-Hot Partnership will be paying him at the end of the month. Because the partnership was very famous, X delivered the 100 kilos. Later on, X discovered that B was not a partner of the Coffee-is-Hot Partnership. What reason may X assert against the Coffee-is-Hot partnership to claim the payment for the premium coffee beans? X must go against B because B is the debtor of X. None of the above X is not required to investigate if B was truly a partner of the Coffee-is-Hot Partnership. X cannot claim from the partnership because B is not a partner.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
X is a supplier of premium coffee beans. B approached X to buy 100 kilos of the premium coffee beans. B informed X that the Coffee-is-Hot Partnership will be paying him at the end of the month. Because the partnership was very famous, X delivered the 100 kilos. Later on, X discovered that B was not a partner of the Coffee-is-Hot Partnership. What reason may X assert against the Coffee-is-Hot partnership to claim the payment for the premium coffee beans?
X must go against B because B is the debtor of X.
None of the above
X is not required to investigate if B was truly a partner of the Coffee-is-Hot Partnership.
X cannot claim from the partnership because B is not a partner.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education