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elena-s [515]
2 years ago
14

Which of the following statements about a partnership is true? a. Partners are considered employees of the partnership. b. A par

tnership is a taxpaying entity. c. Partners are taxed on distributions from a partnership. d. Partners are taxed on their allocable share of income whether it is distributed or not.
Business
1 answer:
Ket [755]2 years ago
5 0

Answer:

D. Partners are taxed on their allocable share of income whether it is distributed or not.

Explanation: partnership is a business entity formed by two or more persons bring their resources together to form both the needed capital and other requirement. Both

Partnership and sole proprietorship do not pay tax as a business. But a partner is taxed according to its own allocable share of income wherether it is distributed or not. In partnership their two main class of partners which includes the General partner and the Limited partner.

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The <span>demographic segmentation. </span>
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The B-52 is an aircraft used by the U.S. military in armed conflict. Based on this information, what kind of good is a B-52 airc
ycow [4]
B. because it is only used by the military and not the public
5 0
3 years ago
Based on the following information: Assume that Forrest Company uses the LIFO accounting method. In year X1, Forrest reported th
Andru [333]

Answer:

a. $15,500

Explanation:

Based on LIFO, cost of 1500 unit sold will be entirely from the Purchases (year X1). Therefore, we have:

Value of units purchases (year X1) outstanding after sales = (2,000 - 1,500) * $11 = 500 * $11 = $5,500

Therefore, we have

LIFO Inventory on 12/31/X1 = Value of beginning Inventory (1/1/X1) + $5,500 = $10,000 + $5,500 = $15,500.

8 0
3 years ago
You wish to earn a return of 13% on each of two stocks, X and Y. Stock X is expected to pay a dividend of $3 in the upcoming yea
Otrada [13]

Answer: D. will be less than the intrinsic value of stock Y

Explanation:

Based on the information given above, the intrinsic value of Stock X will be calculated thus:

D1 = Dividend in next year = $3

g = growth rate = 7%

r = = 13%

Therefore, intrinsic value of Stock X will be:

= D1 / (r-g)

= 3 / (13% - 7%)

= 3/6%

= 3 / 0.06

= $50

Therefore, the intrinsic value of stock X is $50.

Intrinsic value of Stock Y will b calculated thus:

D1 = $4

g = 7%

r = 13%

Intrinsic value of Stock Y will be:

= D1 / (r-g)

= 4 / (13% - 7%)

= 4/6%

= 4 / 0.06

= 66.67

Intrinsic value of Stock Y is $66.67

Therefore, the intrinsic value of Stock X will be less than the intrinsic value of Stock Y

8 0
3 years ago
In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 80,000 uni
Mariana [72]

Answer: Option (c) is correct.

Explanation:

Given that,

Beginning work in process = 20,000 units and 70% completed

So, Units transferred = 20,000 × 30%

                                   = 6,000

Direct transferred = 80,000 units

Ending work in process = 10,000 × 40%

                                        = 4,000

Therefore,

Units were transferred out of the process in June:

= Beginning WIP transferred + Direct transferred  + Ending work in process

= 6,000 + 80,000 + 4,000

= 90,000 units

3 0
2 years ago
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