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Question 13 1 pts When a general partnership ends, its assets will be divided in the...
a. Under a General Partnership, partners are liable only to the extent of their capital contributions....
a. Under a General Partnership, partners are liable only to the extent of their capital contributions. True False b. Under a Limited Liability Limited Partnership, the liability of all partners is limited to the amount of their investments in the firm. True False c. When a partner ceases to be associated in the carrying on of the partnership business, this is called: A. Joint and several liability B. A fiduciary duty C. Winding up D. Dissociation d. Which of the...
TRUE OR FALSE PLEASE HELP 1. A new partner cannot be admitted into a partnership without...
TRUE OR FALSE PLEASE HELP
1. A new partner cannot be admitted into a partnership without the consent of all the partners, 2. A partnership may be dissolved without being liquidated. 3. When a new partner is given 30% interest in a partnership, he will receive 30% of all future profits and losses, 4. When a partner leaves a partnership, it is possible that total assets will be unaffected. S. A person admitted as a partner into an existing partnership...
QUESTION 23 In a partnership, mutual agency means each partner acts on his own behalf when...
QUESTION 23 In a partnership, mutual agency means each partner acts on his own behalf when engaging in partnership business. the act of any partner is binding on no one else. an act by a partner is judged as binding on other partners depending on whether the act appears to be appropriate for the partnership that partners must pay taxes on a mutual or combined basis. QUESTION 20 A general partner in a partnership has unlimited liability for all partnership...
Question 19 2 pts When a partnership is formed assets contributed by the partners should be...
Question 19 2 pts When a partnership is formed assets contributed by the partners should be recorded on the partnership books at their Fair mall value at the time of the contribution assessed values for Dropy ornal costs to the parts obtire them book values on the pr o ces prior to the being contributed to the partnership Question 20 2 pts Carls and Eliza share in connequally. For the current year, the partnership net $40.000. Carls made withdrawals of...
please asap Question 7 3 pts Limited partners have liability: for the full amount of partnership...
please asap
Question 7 3 pts Limited partners have liability: for the full amount of partnership debts if their name is in the partnership name. for the negligent acts of the general partner. only for the amount of their contributions, for their contributions and any distributions made to them. Question 8 3 pts The corporate veil can be pierced under the alter ego theory when: personal and corporate assets or debts are mixed. there were insufficient assets put into the...
Question 1 1 pts A partnership may hold title to real property in its own name....
Question 1 1 pts A partnership may hold title to real property in its own name. True False Question 2 1 pts Ownership and management of a business are separated in a corporation. O True O False
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
D Question 3 3 pts The breakeven point in sales is the fixed cost divided by...
D Question 3 3 pts The breakeven point in sales is the fixed cost divided by the contribution margin per unit. True O False D Question 4 3 pts The margin of safety equal actual sales-breakeven sales O True O False 3 pts D Question 5 D Question 5 3 pts machine hours can be used as an allocation base for calculating the pre determined rate True ○ False 3 pts D Question 6 rates are assigned to An unfavorable...
Question 9 1 pts Each partner is an agent of the other and as such, has...
Question 9 1 pts Each partner is an agent of the other and as such, has a fiduciary duty to act responsibly and in good faith on behalf of the partnership. O True O False Question 10 1 pts If a corporation formed in Oregon files the proper documentation and does business in California, it is called a foreign corporation. True O False
true or false 1 UU IJU UJII UI Lupe pour 73. Total Agreed Capital refers to...
true or false
1 UU IJU UJII UI Lupe pour 73. Total Agreed Capital refers to the aggregate capitalization of the partnership after taking into account any bonus to either the old partners or to the new partner. 74. Accrued Interest Expense is debited when accruing additional liability from a promissory note issued by the partnership to one of its creditors. 75. The Office Supplies account is credited when the revaluation agreement is to increase its value. 76. Nominal accounts...
TRUE OR FALSE PLEASE HELP
1. A new partner cannot be admitted into a partnership without the consent of all the partners, 2. A partnership may be dissolved without being liquidated. 3. When a new partner is given 30% interest in a partnership, he will receive 30% of all future profits and losses, 4. When a partner leaves a partnership, it is possible that total assets will be unaffected. S. A person admitted as a partner into an existing partnership...
QUESTION 23 In a partnership, mutual agency means each partner acts on his own behalf when engaging in partnership business. the act of any partner is binding on no one else. an act by a partner is judged as binding on other partners depending on whether the act appears to be appropriate for the partnership that partners must pay taxes on a mutual or combined basis. QUESTION 20 A general partner in a partnership has unlimited liability for all partnership...
Question 19 2 pts When a partnership is formed assets contributed by the partners should be recorded on the partnership books at their Fair mall value at the time of the contribution assessed values for Dropy ornal costs to the parts obtire them book values on the pr o ces prior to the being contributed to the partnership Question 20 2 pts Carls and Eliza share in connequally. For the current year, the partnership net $40.000. Carls made withdrawals of...
please asap
Question 7 3 pts Limited partners have liability: for the full amount of partnership debts if their name is in the partnership name. for the negligent acts of the general partner. only for the amount of their contributions, for their contributions and any distributions made to them. Question 8 3 pts The corporate veil can be pierced under the alter ego theory when: personal and corporate assets or debts are mixed. there were insufficient assets put into the...
Question 1 1 pts A partnership may hold title to real property in its own name. True False Question 2 1 pts Ownership and management of a business are separated in a corporation. O True O False
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
D Question 3 3 pts The breakeven point in sales is the fixed cost divided by the contribution margin per unit. True O False D Question 4 3 pts The margin of safety equal actual sales-breakeven sales O True O False 3 pts D Question 5 D Question 5 3 pts machine hours can be used as an allocation base for calculating the pre determined rate True ○ False 3 pts D Question 6 rates are assigned to An unfavorable...
Question 9 1 pts Each partner is an agent of the other and as such, has a fiduciary duty to act responsibly and in good faith on behalf of the partnership. O True O False Question 10 1 pts If a corporation formed in Oregon files the proper documentation and does business in California, it is called a foreign corporation. True O False
true or false
1 UU IJU UJII UI Lupe pour 73. Total Agreed Capital refers to the aggregate capitalization of the partnership after taking into account any bonus to either the old partners or to the new partner. 74. Accrued Interest Expense is debited when accruing additional liability from a promissory note issued by the partnership to one of its creditors. 75. The Office Supplies account is credited when the revaluation agreement is to increase its value. 76. Nominal accounts...
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