1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Varvara68 [4.7K]
3 years ago
5

A partnership's allocations of income and deductions to the partners are required to be proportionate to the partners' percentag

e ownership of partnership profits in order to meet the substantial economic effect tests.1. True
2. False
Business
1 answer:
olga_2 [115]3 years ago
6 0

Answer:

A partnership's allocations of income and deductions to the partners are required to be proportionate to the partners' percentage ownership of partnership profits in order to meet the substantial economic effect tests.

True

Explanation:

Equity and equality must be put in place as a yardstick to allocate such which would bring a common ground for both parties.

You might be interested in
The best answer to both the flatness and horizon problems is Group of answer choices dark energy. the inflationary epoch. decoup
Ksivusya [100]

It should be noted that best answer to both the flatness and horizon problems is inflationary epoch.

The inflationary epoch van be regarded as the period in the evolution of the early universe, at this period there was an expansion.

According to inflation theory, the earth were recorded to experience great horizon problems and exponential expansion.

Therefore, inflationary epoch brings about both flatness and horizon problems

Learn more about inflationary epoch at:

brainly.com/question/11356270

3 0
2 years ago
Gomez runs a small pottery firm. He hires one helper at $11,500 per year, pays annual rent of $7,000 for his shop, and spends $2
madreJ [45]

Answer:

in this problem, we need to calculate Gomez's accounting and economic profit. To do this, let us first classify and list the explicit and implicit costs. Revenue: Sales: $85,000 Explicit costs: Cost of one helper: $18,000 Rent: $8,000 Materials: $24,000 These are the costs that require an outlay of cash. Implicit costs: Opportunity cost of funds invested in equipment: $7,000 Gomez could have invested the funds in another asset that could earn him $7,000 Opportunity cost of working as a potter in his own shop: $20,000 Gomez could have worked as a potter for a competitor that could earn him $20,000. This is the worth of Gomez's skill as a potter. Entrepreneurial talent: $4,000 This is the worth of Gomez's talent in running the business. These costs do not require an outlay of cash. These are the implicit costs. Now, we are ready to calculate both the accounting and economic profit of Gomez. a. Calculate the accounting profit for Gomez's pottery firm. $_ Accounting profit = Total Revenue − Total Explicit Costs Accounting profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 ) Accounting profit = $ 85 , 000 − $ 50 , 000 Accounting profit = $ 35 , 000 The accounting profit is equal to $35,000. b. Now calculate Gomez's economic profit. $_ Economic profit = Total Revenue − Total Explicit and Implicit Costs Economic profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 + $ 7 , 000 + $ 20 , 000 + $ 4 , 000 ) Economic profit = $ 85 , 000 − $ 81 , 000 Economic profit = $ 4 , 000 The economic profit is equal to $4,000.

8 0
3 years ago
During 20x8, a firm discontinued a component qualifying for separate disclosure within the income statement. The disposal was co
MAVERICK [17]

Answer:

  1. IFCO for 20x7 as it is reported comparatively in the 20x8 statements  = $5,600
  2. IFCO for 20x8 = $6,800

Explanation:

1) IFCO for 20x7 as it is reported comparatively in the 20x8 statements, should not include the $400 operating income from the component = $6,000 - $400, or $5,600.

2) IFCO for 20x8 should not include the gains resulting from the disposal of the component nor the losses generated by it = $7,000 - $300 + $100 = $6,800

4 0
3 years ago
Which of the following would you classify as a structural adaptation of an animal?
eimsori [14]

Answer:

The answer is D I would say.

8 0
2 years ago
Read 2 more answers
A Safety Data Sheet (SDS) is available in the workplace to:_________
solong [7]

Answer:

c) Provide detailed hazard and safety information about a controlled product

Explanation:

A safety data sheet is a sheet having listed all the information which involves in chemical handling, its hazards and storage management. It has physical, environmental and health related hazards and how it can be stored and managed and used.

All other options are wrong as SDS does not assist purchasing of chemicals and does not decide workplace policy. Therefore option a and b are wrong.

5 0
2 years ago
Other questions:
  • Effect of Inventory Errors During the taking of its physical inventory on December 31, 20Y3, Sellers Company incorrectly counted
    7·1 answer
  • As it turns out, Brian and Sondra's good fortune with the restaurant has caused their competitors to lose business. In fact, Caj
    5·1 answer
  • Name at least two primary forms of identification needed to obtain a learners license
    8·1 answer
  • Hunter Company reported a net loss of $12,000 for the year ended December 31, 2017. During the year, accounts receivable decreas
    11·1 answer
  • Show how Cablevision can conduct an ROI analysis. Describe the information that the company should collect and how it should b c
    15·1 answer
  • Suppose a company will issue new 20-year debt with a par value of $1,000 and a coupon rate of 8%, paid annually. The issue price
    10·1 answer
  • After 9/11, the demand for air travel fell substantially, bringing the airline industry to its knees. Congress wanted to compens
    5·1 answer
  • What assumption is made with supply-side economics?
    11·2 answers
  • Your younger sister needs $50 to buy a new bike. she has opened a lemonade stand to make the money she needs. your mother is pay
    8·1 answer
  • The five 10-year semi-annual coupon bonds listed below are of comparable risk and have the same call provision: 5 years of call
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!