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ss7ja [257]
3 years ago
5

What is the preferred method of resolving a partner's deficit balance, according to the Uniform Partnership Act?

Business
1 answer:
olga_2 [115]3 years ago
3 0

Answer:

e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.

Explanation:

The Uniform Partnership Act is a provision that resolves conflicts in a partnership that is not addressed in the partnership agreement.

The Act is used mostly with small and informal partnerships.

It has been adopted in all states except Louisiana.

Partners must settle their debts in order to redeem their interest in the partnership.

UPA provides that partner with deficit contributes personal assets only If those personal assets exceed personal liabilities.

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it would be scientific

8 0
3 years ago
Shocker Associates sold office equipment for cash of $162,000. The accumulated depreciation at date of sale amounted to $123,000
siniylev [52]

Answer:

Original Cost of asset = $269,000

Explanation:

Provided information,

We have been provided that selling value of equipment = $162,000

Gain recognized on sale = $16,000

Gain = Selling price - Book Value

$16,000 = $162,000 - Book Value

Book Value = $162,000 - $16,000 = $146,000

Accumulated Depreciation = $123,000

Book Value = Original Cost - Accumulated Depreciation

$146,000 = Original cost - $123,000

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8 0
3 years ago
The type of scarcity in the cartoon?​
o-na [289]
Economic cartoons is your answer
8 0
3 years ago
The NIMS guiding principle of ______________ facilitates interoperability among organizations in incident response. a. Flexibili
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Answer: (B) Standardization

Explanation:

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It also helps in facilities the interoperability in an organization for the specific incident response and also establishing the action on the basis of proper planning.

The main objective of the national incident management system is that it helps in guiding the various types of private and the government sectors to prevent  and also protect from the various types of incidents.    

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8 0
3 years ago
The sentence, "our company experienced an increase in profits during the last fiscal year," uses precise vigorous wording.
ZanzabumX [31]

Answer:

The statement is: False.

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Vigorous wording refers to the act of making information appear more than what it really is, in some cases exaggerating the attention in one point or another. The phrase:

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3 years ago
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