Answer:
The correct answer is letter "B": A partner in a partnership is taxed on his or her share of partnership income.
Explanation:
Partnerships are organizations where two or more individuals operate a business. The partners are fully liable for the transactions of the company which implies their personal assets can be considered as collateral if the company falls into debt. When it comes to taxes, the partners must file them according to the <em>percentage contribution to the partnership</em>.
Answer:
The basic questions to answer are the 4 economic problems.
Explanation:
What to produce?
The question of what to produce has already been answered by determining to produce cotton shirts.
How to produce?
This deals with the procedure and materials needed for production. In answering the question of how to produce, one must a certainnn the needed materials needed, suitable labour and appropriate processes.
For whom to produce?
Not the individual or firm must ascertain the category of people he wants to produce for, it it the rich or the poor, elite or artisans, students or working class, adults or babies.
Answer:
Please see balance sheet below.
Explanation:
Wolfpack construction balance sheet.
Dec 31
Assets $
Cash 6,000
Land 18,000
Equipment 26,000
Total assets 50,000
Liabilities.
Accounts payable 3,000
Notes payable 20,000
Total liabilities 23,000
Equity
Common stock 11,000
Retained earnings 16,000
Total stockholders equity. 27,000
Total liabilities and stockholder's equity(23,000 + 27,000) 50,000
This question is a little but more difficult to solve, as it depends on the situation. For certain banks it is not worth it due to rates that must be payed, but in your case here I believe that it would be TRUE.
Answer: Internal reporting involves the compilation of financial and operational information on a frequent basis, which is distributed to those within an organization who can use it to improve performance. ... Internal reports are not shared with anyone outside of the firm.
