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elena-s [515]
3 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]3 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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5 0
1 year ago
Dorcan Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last year, the shirts sold for $7.5
Burka [1]

Answer:

$10.00

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Based on the information given since variable cost increased by one-third (1/3) which means that the selling price amount has to as well increase by the same one-third (1/3) in order to maintain the same contribution margin ratio as last year.

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7 0
3 years ago
Bragmore is a successful businessman who
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Bragmore should lend his spare pair of goggles to his primary competitor Aprince and should play fair.

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