Answer:
d.No effect on the expenses of the current period.
Explanation:
In the case when the credit balance of the allowance for doubtful debt more than the bad debt amount i.e. written off
So the entry for writing off against the allowance would result in no effect on the expense for the present period
As the bad debt expense is debited and the allowance for doubtful debt would be credited therefore the option d is correct
Answer:
Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE
Explanation:
What is Partnership
Partnership is a form of business, where individuals come together to carry on business with the primary intention of making profit. Mostly, they come together by contributing capital and expertise to make the business work . Every partner is however liable and responsible for both the profit made and the losses or liabilities of the partnership.
Although the general partner has unlimited liability, every partner is however jointly and severely liable for the business
Were Summemour and Hatcher Liable?
This case is referred in the J.T. Turner Construction Company v. Summerour and Hatcher(2009). The court this case declared that both Hatcher and Summemour were jointly and severally liable as a result of the following reasons.
A partner becomes liable especially for a prior judgment based on the following
1. The partnership has proven indebtedness
2. A general partner in the partnership was sued to court
Based on these, Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE
Answer:
The best gift I ever received is none other than my parents, given to me by God on my birthday. Nowadays, not every child is fortunate enough to have both parents to nurture them. As for me, I am lucky to be raised by two loving parents. They provide shelter and care so that we can live comfortably.
Explanation:
this is the correct answer you want
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I feel that economic would be the one that makes sense to me could be wrong though hope this helps
<span>Entrepreneurs are considered to be both spark plugs and catalysts of the free enterprise economy because of a number of reasons. Everybody benefits and profits when an entrepreneur becomes successful. When an entrepreneur opens his or her search for profits, the effects would be a chain of events where new products, greater competition, more production, higher quality, and lower prices for consumers can be observed. An entrepreneur is said to be a spark plug in the free-market for there is that vision of providing a product or a service that people are willing to pay for, combined with the ability to produce that product or service at a cost below the market sales price which propels him/her to take action. Capitalism will not work if it were not for the entrepreneurs who take the risks and start the businesses that produce the goods and services we all enjoy.</span>
