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Mila [183]
3 years ago
15

A correct statement concerning a real estate limited partnership is that: (A) The ordinary and necessary expenses of the general

partner(s) in operating the business are completely nondeductible. (B) Management expertise and economic soundness are among the factors that should be considered in evaluating real estate limited partnerships. (C) Hard costs such as those incurred by a partnership in acquiring land are wholly deductible as they occur. (D) A corporation cannot be a general partner since a corporation has limited liability.
Business
1 answer:
Solnce55 [7]3 years ago
7 0

Answer:

(B) Management expertise and economic soundness are among the factors that should be considered in evaluating real estate limited partnerships.

Explanation:

The limited partnership in a real estate allows to have a general partner if there is no conflict of interest, it do not impose any restriction on a corporation having limited liability.

Further all the operating costs are wholly deductible and the costs associated with acquiring land are not deductible.

Management shall be expert in the work they perform also their soundness to business provides extra benefit to real estate business, as it is all about getting maximum contracts.

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shepuryov [24]

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6 0
2 years ago
Steadigen Company sells two generators long dash Model A and Model Blong dashfor $ 432 per unit and $ 410 per unit, respectively
ch4aika [34]

Answer:

False

Explanation:

Contribution margin per unit = Sales -  variable cost

Contribution margin per unit (Model A) = $432 - $404

Contribution margin per unit (Model A) = $28 per unit

Contribution margin per unit (Model B) = $410 - $304

Contribution margin per unit (Model B) = $106 per unit

False, Contribution margin per unit (Model B) is higher so,  motivated to push sales of Model A will be false.

Break-even in units = Fixed cost / Contribution margin per unit

Break-even in units (Model A) =  Fixed cost / $28

Break-even in units (Model B) =  Fixed cost / $106

6 0
3 years ago
During the final or phaseout stage of the project life-cycle, __________ is the dominant goal of many project managers.
Anarel [89]
During the final or phaseout stage of the project life-cycle, scope is the dominant goal of many project managers.
6 0
3 years ago
PLEASE HELP ME<br> My career is a traveling nurse
Damm [24]

Answer:

Step by step explanation

5 0
3 years ago
At year-end (December 31), Chan Company estimates its bad debts as 0.70% of its annual credit sales of $862,000. Chan records it
KiRa [710]

Answer: Please see the required journals below:

December 31:

Debit Bad debt expense                                $6,034

Credit Allowance for doubtful accounts       $6,034

February 1:

Debit Allowance for doubtful accounts              $431

Credit Accounts receivables                               $431

June 5:

Debit Cash                                                            $431

Credit Bad debt recovery (income statement)   $431

Explanation: The company estimates its bad debt expense as percentage of sales. In this case 0.7% of its annual sales of $862,000 was deemed as uncollectible, that is, 0.7% x $862,000 = $6,034. The required journals to recognize this bad debt expense is provided above. However, since there was an existing provision, which resides in the allowance account, a write-off would definitely hit that account in order to extinguish the accounts receivable portion. Upon recovery of the write-off, we cannot reinstate the receivable since it was already extinguished but we need to recognize the recovery as a gain.

3 0
3 years ago
Read 2 more answers
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