If the absence of an agreement to the contrary in partnership, what are the all partners entitled?

Business

1 answer:

Ne4ueva [31]3 years ago

6 0

Answer:

d) All of above

Explanation:

A partnership agreement provides guidelines on how two or more partners will manage their partnership business. It is the contract that dictates each partner's roles, profit and loss sharing formula, and personal liability of each in case of insolvency.

In the absence of a partnership agreement, the law prescribes that partners share profits and losses equally. All partners assume equal rights to responsibilities and liabilities.

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Society suffers a deadweight loss in a pure-monopoly market because

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The costs and risks associated with doing business in a foreign country are typically?

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2 years ago

In the papyrus corporation, cash receipts from customers were $136,000, cash payments for operating expenses were $102,000, and

sleet_krkn [62]

Cash receipts from customers = $136,000
cash payment for operating expenses = $102,000
tax paid = 1 / 3
Amount on which tax paid = $9,300
amount of tax paid = $9,300 / 3 = $3,100
net cash provides by operating activities = ?
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3 years ago

If you sell all of the capacity on a production line, inventory from that line is sold at:

mina [271]

Had to look for the options and here is my answer.
What happens when all of the capacity on a product line is being sold is that, the inventory from that line will be sold at HALF OF THE PRICE OR VALUE AS IT IS REFLECTED ON THE RECORDS OF ACCOUNTING DEPARTMENT. Hope this answer helps.

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3 years ago

During December, LafertyLaferty designed a landscape plan and the client prepaid $ 8 comma 000$8,000. LafertyLaferty recorded t

liubo4ka [24]

Answer:

The answer is:

Dr Unearned Service Revenue 4,800

Cr Service Revenue 4,800

Explanation:

Since Laferty completed 60% of the landscape plan during this year, they should record $4,800 as earned revenue ($8,000 x 60%), while the remaining $3,200 should stay as unearned revenue. The journal entries should be as follows:

Dr Unearned Service Revenue 4,800

Cr Service Revenue 4,800

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3 years ago