Answer:
General; limited; limited.
Explanation:
Limited partnerships have two classes of partners. These two (2) classes are;
1. General partner: it is a type of partnership in which two or more people come together and have an agreement to do business by sharing profits, assets, debts or financial and legal liabilities.
2. Limited partner: it is a type of partnership in which people come together and have an agreement to do business but the involved partners only contribute financially and solely responsible to the amount of money they invested.
Hence, the general partner actually runs the business and faces unlimited liability for the firm's debt, while the limited partner is only liable up to the amount the limited partner invested.
Answer:
a. net income= understated, retained earnings= understated
Explanation:
In accounting and auditing it is established that ending inventory and net income moves in the same direction when it comes to being overstated or understated. That implies that if <u>ending inventory is understated</u>, then cost of goods sold will be overstated by the same amount, and when costs are overstated it finally leads to <u>net income and gross profit being understated.</u>
Furthermore, since it is the net income that will be added to retained earnings thereafter, it implies that the lesser the net income the lesser will be retained earnings. Hence, understatement of ending inventory is understatement of net income and also retained earnings.
Answer:
$21,080.2
Explanation:
The price of the car will be the down-payment plus the future value of 375 paid each month for 5 years compounded monthly at 9.72%.
The formula for calculating future value is
PV = P × 1 − (1+r)−n
r
PV is $350
r is 9.72 % or 0.0972 % per year or 0.0081
t is five year or 60 months
FV = 350 x (1-(1+0.0081)-60
0.0081
Fv =350 x 1-0.61628715419
0.0081
FV =350 x( 0.38371284581/0.00810
FV =350 x 47.371956
FV =16,580.20
The value of the car = $4500 + 16,580.20
=$21,080.2
you get out of the car take a photo and get back in and drive
i dont know if you want to use this answer btw
Answer:
is the amount that sellers are willing and able to sell at a particular price.
Explanation:
Quantity supplied refers to the amount of goods sold or supplied at a particular price by the sellers in the market. According to the law of supply, there is a positive relationship between the price of the commodity and the quantity supplied of that commodity.
This indicates that an increase in the price of the commodity will lead to increase the quantity supply of the commodity and a decrease in the price of the commodity will lead to decrease the quantity supplied of the commodity.
