Answer:
Elisha's basis in the partnership interest on December 31 is $339,525
Explanation:
In order to calculate Elisha's basis in the partnership interest on December 31 we would to calculate the following formula as follows:
Elisha’s basis=cash contributes + liability/2 +reported net income/2 + partnership borrowship/2 + partnership obligations/2=
Elisha’s basis= $227,520+ $151,680/2 + $35,550/2 + $23,700/2 + $9,480/2
Elisha’s basis=$339,525
Elisha's basis in the partnership interest on December 31 is $339,525
True.
The shared value creation framework provides guidance to managers about how to reconcile the economic imperative of gaining and sustaining competitive advantage with corporate social responsibility. It helps managers create a larger pie that benefits both shareholders and other stakeholders.
The purpose of corporate governance is to facilitate effective, entrepreneurial, and prudent management that can deliver the long-term success of the company. Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies.
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Answer:
$78,900
Explanation:
In the gross income from the items, Joana should only put the compensation form his employer, since she didn´t sell the actions yet, she souldn´t declare that either, and the money perceived from the life insurance on her husband is tax free in all of the United States and should not be put into the gross income.
Answer: Option C
Explanation: As per the monetary unit assumption, only those transactions that could be valued in monetary terms are considered to be important. The transactions or events that have only qualitative aspects are non relevant for accounting purposes.
It makes a assumption that the value of dollar will remain stable over time, which is incorrect. This concept does not take into consideration the problem caused by the historic cost recording.
Hence from the above we can conclude that the correct option is C.
Answer:
Both sales and account receivable
Explanation:
In the case when the company sells the goods or services on an account and the revenue is to be recorded prematurely so here the both accounts i.e. sales and the account receivable are overstated as it impacts these two accounts
Therefore the same is to be considered
hence, Both sales and account receivable are overstated