In a limited partnership:
The inactive partner has limited liability for the business's debts
Explanation:
In a general partnership all partners share equal financial responsibility for the firm's decisions.
This means that all partners are supposed to have equal liabilities but hat is not the case for limited ones.
In limited partnerships there is a general partner who owns most of the business and has most of the availability and the limited partner has pooled resources for the business but has very little personal responsibility to it.
This model is usually there when the firm needs some investors and the person running business is usually the owner only.
Answer:
The answer is option (A) Dr 4,800
Explanation:
Solution
From the given question, the prepaid insurance normally is having a debit balance.
When it is brought forward to next year, this GH₵ 2,400 has to be cancelled once by debiting to suspense account.
Also. it want 2400 to credit the balance in prepaid insurance ledger, it need or require to be credited and debited to suspense account with 2400 balance.
Now, this combined debit to suspense account will result to 4800 (2400 +2400).
Answer:
Option D Data Dump
Explanation:
The provision of the unneccesary data alongwith the other necessary data to the user is reffered to as Data dumping. Data dumping by the salesperson might affect the opinion because the customer might change his mind to buy a specific product or postpond purchasing the product.
