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V125BC [204]
3 years ago
8

Which of the following accounts could be found in the general ledger of a partnership?Income Tax Expense Interest Expense on Par

tner loansA) No NoB) Yes YesC) Yes YesD) No YesA. Option AB. Option BC. Option CD. Option D
Business
1 answer:
adoni [48]3 years ago
5 0

Answer:

Option D

Explanation:

Under the partnership accounts, income tax expense is not shown in general ledger account, though the interest expense on partner's loan account is shown in general ledger.

As the interest expense on partner loans is a general item, whereas income tax expense is monthly, common item for each business and not specific to partnership accounts.

Thus, correct answer is

D) No Yes

Option D

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10) A blue ocean strategy A. B) involves a preemptive strike to secure an advantageous position in a fast-growing market segment
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Answer:

The correct answer is D) offers growth in revenues and profits by discovering or inventing a new industry or distinct market segment that renders rivals largely irrelevant and allows a company to create and capture altogether new demand.

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4 years ago
Suppose the economy is closed with national saving of $3 trillion, consumption of $10 trillion, and government purchases of $4 t
yanalaym [24]

Answer:

The correct answer is: $17 trillion.

Explanation:

The Gross Domestic Product or GDP represents the overall market value of all the goods and services a country produces and it measures the size of the economy. The GDP is determined with the following formula:

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4 0
3 years ago
Decorative Concrete produces a concrete overlay for residential and commercial concrete flooring. Customers have complained that
forsale [732]

Answer:

Decorative Concrete

1. This contingent liability should be disclosed in a note only.

2. Decorative Concrete should not report any loss in its income statement, yet.

3. Decorative Concrete should not report any liability in its balance sheet, yet.

4. No entry should be recorded in the journal.

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a) Data and Calculations:

Estimated loss = $1.1 and $4 million

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