Homework Answers
Answer) Option d - Ease of Formation
Explanations:
Ease of Formation of Partnership is not considered a disadvantage because it is actually an advantage to the partnership form of organisation. All that is required is a mutual agreement between partners. The Agreement is usually made in writing. Oral agreement is also acceptable. They are also free from complicated legal requirements.
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Question 3 (10 points) Which one of the following would not be considered a disadvantage of...
The individual assets invested by a partner in a partnership a revert back to that partner...
The individual assets invested by a partner in a partnership a revert back to that partner if the partnership liquidates. e determine that partner's share of net income or loss torre you c. are jointly owned by all partners. d. determine the scope of authority of that partner. Which one of the following would not be considered e following would not be considered a disadvantage of the partnerstig om organization? a. Limited life b. Unlimited liability c. Mutual agency d....
1. Which of the following statements is true? A. An advantage of a partnership is limited...
1. Which of the following statements is true? A. An advantage of a partnership is limited life. B. An advantage to a partnership is unlimited liability. C. A disadvantage of a partnership is that it is difficult to transfer ownership. D. A disadvantage to a partnership is double taxation. 2. Which of the following statements is true? A. A disadvantage of a corporation is limited liability. B. An advantage of a corporation is double taxation. C. An advantage of a...
which of the following is NOT a characteristic of a partnership? A. Unlimited liability B. Mutual...
which of the following is NOT a characteristic of a partnership? A. Unlimited liability B. Mutual Agency C. Co-ownership of property D. Unlimited life
Which of the following is a disadvantage of sole proprietor ownership? Ease and low cost of...
Which of the following is a disadvantage of sole proprietor ownership? Ease and low cost of formation Freedom from government regulation All profits to the owner Unlimited liability Ease of dissolution
Which of the following is a disadvantage of the company form of business? Select one: a....
Which of the following is a disadvantage of the company form of business? Select one: a. Its shareholders always have unlimited liability for debts incurred by the business. b. It has an unlimited life. c. It has the ability to raise large amounts of capital. d. It must comply with the Corporations Act 2001 and other legislation.
Which of the following is not a principal characteristic of the partnership form of business organization?...
Which of the following is not a principal characteristic of the partnership form of business organization? a. Mutual agency b. Association of individuals c. Limited liability d. Limited life The basis for dividing partnership net income or net loss is referred to as any of the following except the a. income ratio. b. income and loss ratio. c. profit and loss ratio. d. capital ratio.
please help Inventories affect a.) only the balance sheet b.) only the income statement \ both...
please help
Inventories affect a.) only the balance sheet b.) only the income statement \ both the balance sheet and the income statement d.) nether the balance sheet nor the income statement Beginning inventory plus the cost of goods purchased equals a.) cost of goods sold. b.) cost of goods available for sale net purchases d.) total goods purchased Inventory tumover is calculated by dividing cost of goods sold by a.) beginning inventory b.) ending inventory average inventory d.) 365...
dete te tope i authority of that partner. Which of the following is NOT a characteristic...
dete te tope i authority of that partner. Which of the following is NOT a characteristic of a partnership? a Double taxation-, CA tta c.ri.ir b. Unlimited liability c. Mutual agency d. Ease of formation 4. On lanuary 1. 2006, victor and Nikki have capital account balances of $80,000 and $100,000. Their partnership agreement provides for interest allowances of $8,000 and $10,000 respectively; salaries of $30,000 to Victor and $24,000; and the remainder divided 6:4 respectively. Victor's share of the...
Which of the following is a disadvantage of a partnership when compared to a corporation? a....
Which of the following is a disadvantage of a partnership when compared to a corporation? a. The partnership is easier to organize. b. The partnership is more likely to have a net loss. c. The partnership is less expensive to organize. O d. The partnership has unlimited liability.
Question 3 of 75. Which of the following is a disadvantage of operating as a sole...
Question 3 of 75. Which of the following is a disadvantage of operating as a sole proprietorship? O Sole proprietorships have complex legal and accounting requirements. The owner of a sole proprietorship generally carries unlimited liability for the debts and liabilities of the business O A sole proprietorship has limited flexibility in choosing a tax year. O A sole proprietorship may only use the accrual method of accounting.
The individual assets invested by a partner in a partnership a revert back to that partner if the partnership liquidates. e determine that partner's share of net income or loss torre you c. are jointly owned by all partners. d. determine the scope of authority of that partner. Which one of the following would not be considered e following would not be considered a disadvantage of the partnerstig om organization? a. Limited life b. Unlimited liability c. Mutual agency d....
Which of the following is not a principal characteristic of the partnership form of business organization? a. Mutual agency b. Association of individuals c. Limited liability d. Limited life The basis for dividing partnership net income or net loss is referred to as any of the following except the a. income ratio. b. income and loss ratio. c. profit and loss ratio. d. capital ratio.
please help
Inventories affect a.) only the balance sheet b.) only the income statement \ both the balance sheet and the income statement d.) nether the balance sheet nor the income statement Beginning inventory plus the cost of goods purchased equals a.) cost of goods sold. b.) cost of goods available for sale net purchases d.) total goods purchased Inventory tumover is calculated by dividing cost of goods sold by a.) beginning inventory b.) ending inventory average inventory d.) 365...
dete te tope i authority of that partner. Which of the following is NOT a characteristic of a partnership? a Double taxation-, CA tta c.ri.ir b. Unlimited liability c. Mutual agency d. Ease of formation 4. On lanuary 1. 2006, victor and Nikki have capital account balances of $80,000 and $100,000. Their partnership agreement provides for interest allowances of $8,000 and $10,000 respectively; salaries of $30,000 to Victor and $24,000; and the remainder divided 6:4 respectively. Victor's share of the...
Which of the following is a disadvantage of a partnership when compared to a corporation? a. The partnership is easier to organize. b. The partnership is more likely to have a net loss. c. The partnership is less expensive to organize. O d. The partnership has unlimited liability.
Question 3 of 75. Which of the following is a disadvantage of operating as a sole proprietorship? O Sole proprietorships have complex legal and accounting requirements. The owner of a sole proprietorship generally carries unlimited liability for the debts and liabilities of the business O A sole proprietorship has limited flexibility in choosing a tax year. O A sole proprietorship may only use the accrual method of accounting.
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