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1 year ago

A common type of partnership that involves a managing partner and a financial partner is known as a(n):________

1 answer:

7 0

A general partnership is a partnership when all partners share in the profits, managerial responsibilities, and liability for debts equally.

<h3>What is general partnership?</h3>

A general partnership, the most basic type of partnership under common law, is an organization of people or an unincorporated company that has the following major characteristics: Agreement, proof of existence, and estoppel must all be used to create it.

Two conditions must be met in order to form a general partnership: The company must have at least two owners. All partners must agree to accept unlimited personal responsibility for any debts or legal liabilities incurred by the partnership.

Unless otherwise stated in the agreement, all partners in a general partnership have equal standing and the authority to participate in the management of the business. When a decision must be made, each partner is usually given one equal vote.

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Allowance, I believe.

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Which part of your uniform must be worn at all times (select all that

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Explanation:

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3 years ago

LO 3.4A company sells two products, Model 101 and Model 202. For every one unit of Model 101, they sell they sell two units of M

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Answer:

The sales mix is 1:2.

Model 101 Model 102

Selling Price 21 56

Variable Cost -14 -35

Contribution Per Unit 7 21

Multiply Sales Mix Ratio 1 2

Weighted Contribution 7 42

Now add the weighted Contribution to compute Contribution margin per composite unit which is 7+42=$49

Explanation:

I assumed that the cost and selling price here for Model 101 is $14 and $21 respectively. Similarly the cost and selling price of Model 102 is $35 and $56 respectively.

Remember that Contribution margin per composite unit means that we will earn 49 dollars(combined contribution of sales mix) if we sell the sale mix of Model 101 and 102 which is 1:2.

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3 years ago

Chuck offers $240,000 for a house. The seller turns down the offer but says she will sell the house for $260,000. However, Chuck

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Answer:

Chuck must be less than $260,000

Explanation:

The economic decision rule is: Do it if that marginal benefit exceeds the marginal cost and Since Chuck was unwilling to purchase the house at $260,000, we can deduce that the marginal benefit of purchasing the house must be less than $260,000 due to the fact that the seller turns down the offer but says she will sell the house for $260,000.

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3 years ago

On December 31, 2020, Flint Corporation sold for $150,000 an old machine having an original cost of $270,000 and a book value of

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Answer:

$105,547

Explanation:

Original cost of machine = $270,000

Machine sold for = $150,000

Book value = $120,000

Down payment = $30,000

$60,000 payable on December 31 each of the next two years .

Present value of an ordinary annuity of 1 at 9% for 2 years = 1.75911

The amount of the notes receivable net of the unamortized discount:

= Amount paid on December 31st × Present value of an ordinary annuity

= $60,000 × 1.75911

= $105,547

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3 years ago