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gregori [183]
1 year ago
12

Granval thinks a partnership will reduce his personal financial responsibility. this is true only if?

Business
1 answer:
Orlov [11]1 year ago
4 0

Granval thinks a partnership will reduce his personal financial responsibility. this is true only if Granval is not a general partner.

General partnership is a type of business agreement which is made between two or more individuals who agree to share all the assets, profits as well as  liabilities of the business.

Because of the simplicity and tax benefits in the general partnership, a general partnership is one of the most common legal business entities.

However, it's  very important to consider that each partner is personally responsible for the business, including debts and lawsuits, and is held liable for the actions of their partners.

To know more about general partnership here:

brainly.com/question/12983082

#SPJ4

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Midyear on July 31st, the Chester Corporation's balance sheet reported:
erastova [34]

Answer:

$76.856 million

Explanation:

As we know that Balance sheet is divided in two portions.

1. Total Assets (Current Assets + Fixed Assets)

2. Total Liabilities and Share Holders' Equity.

and they both should be equal. So we can write from the above information, as:

Total Assets = Total Liabilities + Total Common Stock + Retained Earnings

N.B. We are excluding Cash from our calculation cause we assume that Cash is already been included in Total Assets.

Hence, by putting the values in above equation we can find our Retained Earnings as:

Retained Earnings + $128.230 million + $6.350 million = $211.436 million

Retained Earnings + $134.58 million = $211.436 million

Retained Earnings = $211.436 million - $134.58 million

Retained Earnings = $76.856 million

6 0
3 years ago
On February 2, Flint Corp.'s board of directors voted to discontinue operations of its frozen food division and to sell the divi
ikadub [295]

Answer: $40,000

Explanation:

The gain from discounted operations assuming no income taxes, is the gain from the sale of the asset less the net operating losses in the period.

= Gain from Sales of Asset - Net losses in period

= 90,000 - ( 20,000 + 30,000)

= $40,000

8 0
3 years ago
All records make up a ??<br><br> a-File<br> b-Field <br> c-Records<br> d-Database
Kitty [74]

Answer: D. is the answer

Explanation:

sub to me

5 0
3 years ago
What is the repurchase of shares procedure
Oksi-84 [34.3K]
The metals
Because you can have more energy
4 0
3 years ago
__________ work schedules are associated with good child adjustment. Group of answer choices Weekend Full-time Flexible Night-ti
Svetllana [295]

Flexible work schedules are associated with good child adjustment.

<h3>What is Schedule?</h3>

This is defined as planned activities which are to be done at a particular time.

Good child adjustment requires a flexible work schedule because any thing can come up when taking care of a child which is why it's the most appropriate choice.

Read more about Schedule here brainly.com/question/25037276

4 0
2 years ago
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