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Dmitry [639]
2 years ago
11

What are the unique financial reporting implications of the partnership entity in comparison with the proprietorship and corpora

te
structures? how does the closing process differ for the partnership?
Business
1 answer:
Pie2 years ago
5 0

The financial reporting of the Partnership firm differs from the  proprietorship and corporate entities as the closing process of partnership involves creation of the realization account, whereas the another entity not required this.

<h3>What is financial reporting?</h3>

Standard techniques for giving stakeholders an accurate portrayal of a company's finances, including revenues, profits, expenses, cash flow, capital, and official records that provide in-depth insights into financial information, are referred to as financial reporting.

The payment of taxes, fines, and interests has new financial reporting consequences for partnership firms that are distinct from any other sort of business company.

Taxes paid to partners or owners, on the other hand, are accounted for in a transaction with the owners.

Furthermore, the financial reporting implications for a partnership firm differ from those for a sole proprietorship or a corporation, as the partnership business is distinct from the two stated businesses.

The closing process of partnership differs from the another businesses because the closing process of partnership involves the preparation of realization account.

Therefore, the partnership form of business enterprise is differed from the other business.

To learn more about the partnership, refer to:

brainly.com/question/19988417

#SPJ1

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Which of the following statements are true if the efficient market hypothesis holds? It implies that future events can be foreca
Pachacha [2.7K]

Answer:

The correct answer is b. It implies that prices reflect all available information.

Explanation:

The efficient market hypothesis is a theory initially enunciated by Eugene Fama (1970). It states that the current price of an asset in the market reflects all available information that exists (historical, public and private).

This theory considers that any news or future event that may affect the price of an asset will make the price adjust so quickly that it is impossible to obtain an economic benefit from it. Given this, it is considered a waste of time and money to try to analyze the values, since there will be no undervalued or overvalued assets in the market.

6 0
3 years ago
Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, an
evablogger [386]

Answer:

SWOT analysis.

Explanation:

SWOT analysis is also called the SWOT matrix and is strategic planning used by organisations to identify strengths weaknesses, opportunity, and threats while carrying out business in a competitive environment.

SWOT analysis is designed in such a way that it is most effective at the preliminary stage of planning a business strategy.

It is primarily used to set organisation objectives and to identify internal and external factors that will influence the set objectives.

3 0
3 years ago
Ayden is the sole proprietor of a shoe repair shop in Atlanta. His business has been increasing for five years and he is now con
andrew-mc [135]

Answer:

His conclusion is based on his own soul-interest.

Explanation:

In the following situation, Ayden is a sole Proprietor he has no team or management system to discuss the idea of opening a new shop, Ayden has to decide about his all expenses, revenues, sources of finance and decision cost from his knowledge and experience.

  • Ayden is behaving rationally because he is fully liable for his decisions.
7 0
3 years ago
​Kentucky, Inc. purchases and sells widgets. The following information summarizes the​company's operating activities for the​yea
igomit [66]

Answer:

$16.9 per widget

Explanation:

Given that,

Beginning inventory = $2,500

Purchases  = $156,000

Ending inventory = $38,200

Sales Revenue = $783,000

Selling and Administrative Expenses = $5,400

Total cost of the 7,100 widgets:

= Beginning inventory + Purchases - Ending inventory

= $2,500 + $156,000 - $38,200

= $120,300

Therefore,

Cost of one widget = Total cost of the 7,100 widgets ÷ Number of widgets

                                = $120,300 ÷ 7,100

                                = $16.9 per widget

5 0
3 years ago
HELP FAST PLEASE!!!!! Information you should consider when researching and comparing careers include all of the following except
Butoxors [25]

Answer:

What your friends are doing.

Explanation:

The reason why the answer is what your friends are doing, is because it is in most cases, unnecessary. Even though it might seem like it is necessary, but if you really think about it, you are looking for jobs FOR YOU and you alone. What your friends are doing for their career, will most likely differ from what you would want to do.

7 0
3 years ago
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