1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kirill115 [55]
3 years ago
5

Which of the following statements best describes accounting for a partnership?

Business
1 answer:
svetlana [45]3 years ago
7 0

Answer:

B. A partnership may use federal income tax rules to account for transactions in their journals and ledger accounts.

Explanation:

There is a lot of difference in accounting of normal partnership firms and that of non profit organisations.

Simply a partnership firm cannot be formed as a non profit entity.

A partnership can use any federal laws in compliance and do accounting entries in accordance with them.

The partnership equity section only contains partner's capital account as there are no retained earnings section.

Partnership's do not pay dividend, and if it does it is not limited to money.

You might be interested in
The goals scored per game by a soccer team represent the first quartile for all teams in a league. what can you conclude about t
nirvana33 [79]

Actually the quartile represents in what rank or order the team is when all the goals per team is arranged in ascending order. So for example since the team is on the first quartile, so this means it is on the 25% of the ranking. Hence we can say that:

“the team scored fewer goals per game than 75% of the teams in the league”

3 0
3 years ago
Which of the following is NOT one of the mentioned ways high school differs from higher learning?
Digiron [165]
Hey there!

<span>Which of the following is NOT one of the mentioned ways high school differs from higher learning?

Answer: </span>
<span>Amount of support and guidance

Hope this helps
Have a great day (:
</span>
3 0
3 years ago
A manufacturer of food products is looking at entering several new markets in developing countries. Before it does this, the com
Lorico [155]

Answer:

Option D

Explanation:

In simple words, the problem depicted in the given scenario is an example of low knowledge of the target audience. In the given case, the company did everything correct with respect to their procedures, like they made a question are in the local language and distributed to the target audience and collected the survey efficiently.

However while doing the procedure, they were unaware of the fact that their target audience was not literate enough. Hence we can conclude that the correct answer is D.

4 0
3 years ago
Stores such as T. J. Maxx, Burlington Coat Factory, and Marshalls buy manufacturers' seconds, overruns, returns, and off-season
Rama09 [41]

Answer: off price retailers

Explanation:  In simple words, it refers to the retailers that sells high quality products at relatively lower prices than market. The key to their business structure is the discount they offer as the majority of product they sell are of second hand quality or are off seasoned.

    They procure material directly from the suppliers in the form of scrap etc and then sells it to retailer at heavy discounts. Hence from the above we can conclude that the correct answer is off price retailers.

4 0
3 years ago
How much should you contribute to the retirement account each pay period to take full advantage of the company match
Varvara68 [4.7K]

d) $16.92

Each paycheck is $22,000/26 times per year = $846.15

Your company will match up to 2% of this. .02*$846.15= $16.92

You should contribute this amount each pay period in order to take full advantage of the "company match" because your company will add that much money into your retirement account on top of what you pay in.

3 0
3 years ago
Other questions:
  • Candace has just landed her first job and has the long-term goal to one day buy a house. She needs help investing some of her mo
    5·1 answer
  • The government has become more actively engaged in regulating the american economy since 1900. question 9 options: 1) true 2) fa
    15·1 answer
  • Wright ​Services, Inc., has $ 8 comma 800 cash on hand on August 1. The company requires a minimum cash balance of $ 7 comma 400
    13·1 answer
  • During the adjusting process two transactions were missed. The first is for unearned rent revenue of which $450 was earned durin
    11·1 answer
  • Assume the spot Swiss franc is $0.7000 and the six-month forward rate is $0.6950. What is the minimum price that a six-month Ame
    10·1 answer
  • The growth of​ _____________ has diminished the importance of national barriers and has forced companies to reevaluate their bus
    15·2 answers
  • Zync Corporation offers a block of its securities for sale to the investment banker that submits the highest price of all intere
    5·1 answer
  • Closing entries and a post-closing trial balance are steps in the accounting cycle that occurA :  quarterly. B :  monthly. C : 
    14·1 answer
  • When the team members mention two former employees, Doug and Linda, who moved on to new companies, the team members explain how
    7·1 answer
  • Galactic Inc. manufactures flying drone toys. Sales units for January, February, March, April and May were 320, 300, 372, 332, a
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!