The number of tokens to be purchased will depend on the purchasing power of my present capital.
<h3>What is a subway tokens?</h3>
It means those metal or plastic disk that can be redeemed, used in designated slot machines which are mostly used to pay for entry to the subway system.
Despite that the effect of inflation could push the subway tokens which are $1.50 today to go up to $2.00, the number of tokens to be purchased will depend on the purchasing power of my present capital.
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Nothing. The sentence is fine as it is.
Answer: d. $45,000 should be debited to Land Improvements.
Explanation:
Land improvements records any moderation to land asset that is expected to add to its value and lasts for more than a year.
The paving and lighting of the parking area will add value to the area and will last longer than a year so both should go to the Land improvement account. As this account is an asset account, it will be debited when increased:
= 30,000 + 15,000
= $45,000
Answer:
b. partnership
Explanation:
Partnership refers to a form of business wherein two or more individuals agree to carry out a business mutually agreeing to share profits and losses in agreed ratio as per the clauses specified in the partnership deed.
Also, upon retirement or death of a partner, the partnership firm gets dissolved and requires to be reconstituted again with necessary changes being carried out in clauses and specified profit sharing ratio in the partnership deed.
Another significant feature of partnership being, except for limited liability partnership, in all other forms of partnerships, the partners are exposed to unlimited risk.