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LUCKY_DIMON [66]
3 years ago
8

A limited partnership account is being opened at your firm. The general partner has provided the partnership tax identification

number and has signed the appropriate paperwork. What other documentation is needed to open the account?
Business
1 answer:
Kobotan [32]3 years ago
4 0

Answer: Partnership Agreement, State Certification, Business name registration, Business bank account name opening.

Explanation:

A limited partnership is a business between two partners; one being the general partner who is accountable for all activities in the business and the other being the Limited Partner who is basically there for the money he invested in the business.

In addition to the tax identification, the Partnership agreement must be drafted so as to clearly describe the structure of the business as well as the role and rights of all partners involved.

The State Certificates which contain details of the business name, and its address as well as the names and addresses of the involved partners and agents is also required. The state would charge a fee to have this certificate registered.

Business Bank Account Name would be needed and it would be recognized as the official account where monies could be paid. An Employer Identification Number is also required if there are employees to be paid.

Business Name Registration - This registration is required when a name which is not the last name of the partners is chosen for the business.

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Answer:

b. prepare and rehearse

Explanation:

In order to be tactful and professional when personally delivering bad news within organizations, you should prepare and rehearse. Before delivering bad news you need to make sure you have gathered all the information from both sides of the story in order to deliver the news tactfully and professionally. Once you have all the information, rehearsing your delivery will allow you to perfect it and implement a more empathetic approach. Taking a partner is also a good choice, as well as waiting for the right moment.

7 0
3 years ago
Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current infor
Mice21 [21]

Answer:

what im iin 5th grade

Explanation:

8 0
3 years ago
Suppose that an economy consists of only two individuals. Trevor has $1070 available to spend on goods. He decides to purchase $
castortr0y [4]

Answer:

<em>The question option are:</em>

<em>1. For the current quarter what is the economy's income? </em>

<em>2. For the current quarter, what is the economy's expenditure? </em>

<em>3. In an economy, how are income and expenditure related?</em>

1. The economy's income for the current year is $450 because there is only one transaction that take place in the year worth of $450

2. The economy's expenditure of the current year is $450 because each transaction has two side. One is the Income, the other is Expenditure. The income is converted to expenditure.

3. In an economy, income and expenditure are related and they are equal. Each transaction has two side. One is the Income, the other is Expenditure. The income is converted to expenditure.

4 0
3 years ago
General Widget partnership assets amount to $34,000 after liquidation. Frank, Gene, and Hank, equal partners, each contributed $
maks197457 [2]

Answer:

$7,000

Explanation:

Balance to be distributed = Assets amount after liquidation - Creditor - Gene loan to the business

Therefore,

Balance to be distributed = $34,000 - $23,000 - $5,000 = $6,000

Since there is no agreement among the partners regarding the distribution of profits, the amount to be distributed will be shared equally for each partners as follows:

Each partner's of the amount to be distributed = $6,000/3 = $2,000

Amount received by Gene = Loan amount from + Distributed balance share

                                             = $5,000 + $2,000

Amount received by Gene = $7,000

Therefore, Gene gets $7,000 in distribution.

8 0
3 years ago
The Carter Corporation makes products A and B in a joint process from a single input, R. During a typical production run, 50,000
klemol [59]

Answer: $54,000 per production run

Explanation:

As we are dealing with the decision of whether or not to process the good further, the irrelevant cost would be the cost of producing product B from input R.

This is because this cost has already been incurred to produce product B and so is a sunk cost. Sunk costs are irrelevant to the decision to process further.

30,000 units of B were made from 90,000 units R so the cost of B is:

= 30,000 / 50,000 * 90,000

= $54,000

<em />

<em>The options here are probably for a variant of this question.</em>

8 0
3 years ago
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