Answer:
$86,000
Explanation:
A partnership is a pass through entity that is not taxed directly, but instead its partners are taxed. Even the partners' salaries are recorded as drawings, not salary expense.
The partnership's total ordinary income = book income + any donations or contributions to charities = $80,000 + $6,000 = $86,000
buyer most likely sue for specific performance if the seller defaulted on the contract before closing
A Sale and Purchase Agreement (SPA) is what, exactly?
A Sale and Purchase Agreement (SPA) is a contractual agreement describing the terms on which the buyer and seller of a property have come to an understanding (e.g., a corporation). In any sale transaction, it serves as the primary legal document. Essentially, it outlines the agreed-upon terms of the transaction, offers several significant safeguards to all parties involved, and establishes the legal framework needed to finalize the sale. Therefore, the SPA is extremely important to both sellers and buyers.
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Answer:
LOWER
Explanation:
In time of rising prices, the inventory valuation made according to <em>LIFO</em> ( LAST IN FIRST OUT ) will be <u>LOWER</u> than the one valued according to <em>FIFO</em> ( FIRST IN FIRST OUT ) method.
The reason is that in <em>LIFO</em>, the newer stock is sold first, therefore, the remaining inventory is valued according to older purchases, that in inflationary context have lower prices.
Answer:
Some of the overarching goals that market research can help organizations accomplish, include: making important business decisions, securing investments and funding, determining new business opportunities, and even avoiding business failures.
Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service.
Answer:
a) Accumulating and then assigning costs
Explanation:
A cost system is a system put in place by management to monitor costs incurred by an entity or cost object. A cost system is a combination of related subsystems which monitors, control and report costs information. In determining the cost of an object a cost system accumulates costs before assigning to cost units.