Homework Answers
Answer -
Jack and Jill form a partnership. Jack runs the business in New York, while Jill vacations in Hawaii. During the time Jill is away from the business, Jack increases the debts of the business by $20000, then both Jack and Jill are personally liable for the business debt, because in the partnership all partners are personally liable for the business debt.
Hence, Option - (C) is Correct, because this statement is True.
Note - Option - (A), Option - (B) and Option - (D) are incorrect, because all these statement are False.
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4:00 PM / Remaining: 60 min Multiple Choice Question 54 Jack and Jill form a partnership....
answer each question with an explanation of each answer please the rest of question 3 1....
answer each question with an explanation of each answer
please
the rest of question 3
1. Multiple Choice Question 43 The partnership form of business organization a. b. has limited liability. is a separate legal entity. is a common form of organization for service-type businesses. enjoys an unlimited life. c. d. Answer: 2. Multiple Choice Question 48 An advantage of the corporate form of business is that b. it is simple to establish its owner's personal resources are at stake....
1) Fred and Barney agree while talking on the phone to form a partnership. Their partnership...
1) Fred and Barney agree while talking on the phone to form a partnership. Their partnership agreement is legally binding a. only if it is subsequently put in writing b. only if a subsequent writing is filed with the state c. only if each partner gives consideration to the other d. without any further measures 2) Hillary, a partner in an LLC, owes $100,000 personally to several creditors. To satisfy these debts, the creditors may obtain an order entitling them...
acct hw QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship....
acct hw
QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship. combines the records of the business with the personal records of the owner. has tax advantage over corporation. is classified as a separate legal entity. QUESTION 3 Retained earnings is part of stockholders' equity is part of assets is part of liabilities is part of common stock QUESTION 4 A payment of a portion of an accounts payable will increase liabilities decrease stockholders' equity....
System Announcements me 00:57 PM / Remaining: 35 min Multiple Choice Question 30 Sheffield Company has...
System Announcements me 00:57 PM / Remaining: 35 min Multiple Choice Question 30 Sheffield Company has the following equivalent units of production for July: materials 22500 and conversion costs 26600. Production cost data are: Materials Conversion Work in process, Buy 1 $7000 3900 Costs added in July 47000 The production costs for Duly are Convention Conte 52.40 $1.35 52.00 $1.50 $2.09 $2.40 51 50 Click if you would like to show Work for this questions een Work by Questo c...
TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...
TRUE OR FALSE/ MULTIPLE CHOICE and word response
questions.
C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
Question: 1. An economic advantage of a business combination includes Acquiring duplicative assets Creating redundant management...
Question: 1. An economic advantage of a business combination includes Acquiring duplicative assets Creating redundant management teams Coordinating marketing campaigns Duplicating integrative marketing chains QUESTION 2 The consolidation process is performed each year since the entries are recorded in the journal and ledger only by the parent company each year since the entries are recorded in the journal and ledger only by the subsidiary company each year since the entries are recorded in the journal and ledger by both the...
ssignment Testbank Multiple Choice Question 100 The income statement of Swifty Corporation for 2020 included the...
ssignment Testbank Multiple Choice Question 100 The income statement of Swifty Corporation for 2020 included the following items: Interest revenue Salaries and wages expense Insurance expense $139000 210000 22800 42 The following balances have been excerpted from Swifty Corporation's balance sheets: December 31, 2020 December 31, 2019 Interest receivable $18500 $15900 Salaries and wages payable 17300 8700 Prepaid insurance n 46 ple on 29 2300 Sale 2800 The cash paid for salaries and wages during 2020 was on 50 tiple...
THIS MULTIPLE- CHOICE QUESTION The majority of federal administrative agencies are part of which category of...
THIS MULTIPLE- CHOICE QUESTION The majority of federal administrative agencies are part of which category of agency? The executive branch The judicial branch The legislative branch Independent agencies None of these Al's Car Shack believes its business has been hurt by a new administrative agency rule that creates excessive paperwork for the sale of used cars. In order to challenge the new rule, Al's Car Shack may immediately challenge the rule in federal court. immediately challenge the rule by filing...
QUESTION 1 Manuela has worked as an accountant in her own accounting business, a sole proprietorship,...
QUESTION 1 Manuela has worked as an accountant in her own accounting business, a sole proprietorship, for more than seven years. Among the services she offers is tax return filing and personal investment advising. Which of the following is true of Manuela’s business? A. Manuela has little control over the management and operations of her business. B. Manuela has unlimited liability. C. Outside funding for the business has been easy for Manuela to obtain. D. Manuela had varied and complicated...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate....
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
answer each question with an explanation of each answer
please
the rest of question 3
1. Multiple Choice Question 43 The partnership form of business organization a. b. has limited liability. is a separate legal entity. is a common form of organization for service-type businesses. enjoys an unlimited life. c. d. Answer: 2. Multiple Choice Question 48 An advantage of the corporate form of business is that b. it is simple to establish its owner's personal resources are at stake....
acct hw
QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship. combines the records of the business with the personal records of the owner. has tax advantage over corporation. is classified as a separate legal entity. QUESTION 3 Retained earnings is part of stockholders' equity is part of assets is part of liabilities is part of common stock QUESTION 4 A payment of a portion of an accounts payable will increase liabilities decrease stockholders' equity....
System Announcements me 00:57 PM / Remaining: 35 min Multiple Choice Question 30 Sheffield Company has the following equivalent units of production for July: materials 22500 and conversion costs 26600. Production cost data are: Materials Conversion Work in process, Buy 1 $7000 3900 Costs added in July 47000 The production costs for Duly are Convention Conte 52.40 $1.35 52.00 $1.50 $2.09 $2.40 51 50 Click if you would like to show Work for this questions een Work by Questo c...
TRUE OR FALSE/ MULTIPLE CHOICE and word response
questions.
C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
ssignment Testbank Multiple Choice Question 100 The income statement of Swifty Corporation for 2020 included the following items: Interest revenue Salaries and wages expense Insurance expense $139000 210000 22800 42 The following balances have been excerpted from Swifty Corporation's balance sheets: December 31, 2020 December 31, 2019 Interest receivable $18500 $15900 Salaries and wages payable 17300 8700 Prepaid insurance n 46 ple on 29 2300 Sale 2800 The cash paid for salaries and wages during 2020 was on 50 tiple...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
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