Even though, from accounting standpoint, partnerships are separate entities from the partners, why is it important for

Question:

Even though, from accounting standpoint, partnerships are separate entities from the partners, why is it important for people to form partnerships with people they can trust?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

See More Books

Question Posted: Mar 26, 2014 09:04 AM

See More Questions

Why is it important for financial statements and other external reports to be based on generally accepted accounting principles?
Why is it important for a CPA to promote professional services in an ethical manner? Do you believe it would be ethical for a CPA to advertise professional services using testimonials and...
Why is it important for strategic allocation of financial resources to be significant for advancing in Gods purpose for business on earth.
27 13. Name-4 Abdominal Quadrants and 9 Abdominopelvic Regions using the PowerPoint Number Quadrant 1 2 3 4 Number Region 1 2 D. Bladder: E. Small Intestine: F. Spleen: G. Pancreas: 34 5 6 Tolla 7 8...
As Americans become more conscious about the importance of good nutrition, researchers theorize that the consumption of red meat may have decreased over the last 10 years. A researcher selects...
The unconscious reference to ones own cultural values as a standard of judgment is known as cultural bias. True or False
Prepare a statement of cash flows for Tsingtao Breweries, China, from the following scrambled list of items. Increase in inventories 8,000 Operating income Dividends 220,000 30,000 Increase in...
Javier Gonzales is the manager of the Repairs and Maintenance Department of JG Industries. He is responsible for preparing his departments annual budget. Most managers in the company inflate their...
16. Let a1, a2, 17. a <0 is: (a) 22 be in H.P. with a = 5 and a20 = 25. The least positive integer n for which " (b) 23 Sum of the series rlog. r=1 (c) 24 (d) 25 r+1 + is: r
Procter & Gamble has been the leading soap manufacturer in the United States since 1879, when it introduced Ivory soap. However, late in 1991, its major rival, Lever Bros. (Unilever), overtook it by...
Many companies use long-term leases to finance long-term assets. Although these leases are similar to mortgage payments, they are structured in such a way that they qualify as operating leases. As a...
When accounts receivable are transferred into a partnership, at what amount should they be recorded?
Determine a state-space model and the corresponding realization for the following FIRsystem: y(n) =>bx(n k)
3). Using the following free cash flow data: Year Cash Flow 2019 $3,000,000 2020 $3,400,000 a. Calculate the growth in cash flow between 2019 and 2020 b. Prepare a 5 year cash flow forecast based...
1. Refer to the graph provided. Price, cost of unit $15- 9 MC ATC MR = P = D a. At what level of output does the firm maximize profit? Explain how you know. b. At the profit-maximizing quantity of...
Design a 2 bit grey code counter using JK flip-flop. Hint: Gray code counts (00-01-11-10) To do that you should: A. Build a truth table and use KV-Map to find the equations B.Build the design using...
Do supply and demand effects/unemployment effects)summarize your findings. Part 1: Take a position and discuss your thoughts on whether or not active fiscal and/or monetary policy should be employed...
The Multifactor CAPM and Arbitrage Pricing Theory (APT) are elegant theories of how exposure to systematic risk factors should affect expected returns. However, they fail in identifying what these...
A reaction is spontaneous under a certain set of conditions. What can you conclude about G rxn and Q? (a) AGxn < 0, Q > K (c) AGrxn > 0, Q < K (b) AGxn <0, Q < K (d) AGxn> 0, Q > K
Audrey purchases a riding lawnmower using a 2-year, no-interest deferred payment plan at Lawn Depot for x dollars. There was a down payment of d dollars and a monthly payment of m dollars. Express...
Abel, Burt, Cole and Dodds are in partnership. They are to change their profit ratios as shown: They decide to bring in a goodwill amount of $ 72,000$ on the change. The last balance sheet before...
Charity Navigator (https://www.charitynavigator.org) is a website dedicated to providing information regarding not-for-profit charitable organizations. A. After reviewing the website, explain how...
Which of the following sell stock on an organized stock exchange such as the New York Stock Exchange? A. Publicly traded companies B. Not-for-profit businesses C. Governmental agencies D. Privately...
All of the following are sustainable methods businesses can use to raise capital (funding) except for ________. A. Borrowing from lenders B. Selling ownership shares C. Profitable operations D. Tax...
f(x)=5x-3, g(x)=x-5 (f+g)(x)=(Simplify your answer.)
(5) A small maintenance project consists of the following jobs whose precedence relationships are given below: Job 1-2 1-3 2-3 2-5 3-4 Immediate Predecessor 15 15 3 5 8 8 Activity 3-6 4-5 4-6 5-6 6-7...
Let X be a binomial random variable with the probability distribution f(x) shown below. Find the probability distribution of the random variable Y=x. f(x)= Bere 3-x x=0,1,2,3 elsewhere Complete the...

Even though, from accounting standpoint, partnerships are separate entities from the partners, why is it important for

Question:

Step by Step Answer:

Partnerships are indeed separate entities from the partners from a...View the full answer

Principles of Accounting

Students also viewed these Accounting questions