*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.
<h3>What is a subscription agreement for a limited partnership?</h3>
The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership. When the general partner signs the subscription agreement, it is considered approved for a limited partnership.
<h3>What does the general partner's signature on the subscription agreement mean?</h3>
The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.
<h3>What is a recourse note in a limited partnership?</h3>
Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.
A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.
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Answer:
1. Periodicity assumption.
2. Going concern assumption.
3. Historical cost principle.
4. Economic entity assumption.
5. Full disclosure principle.
6. Monetary unit assumption.
Explanation:
1. <u><em>Periodicity assumption</em></u>: The economic life of a business can be divided into artificial time periods. It is also known as the Time period assumption.
2. <em><u>Going concern assumption</u></em>: The business will continue in operation long enough to carry out its existing objectives.
3. <em><u>Historical cost principle</u></em>: Assets should be recorded at their acquisition cost.
4. <em><u>Economic entity assumption</u></em>: Economic events can be identified with a particular unit of accountability.
5. <em><u>Full disclosure principle</u></em>: Circumstances and events that could make a difference to financial statement users should be disclosed.
6. <em><u>Monetary unit assumption</u></em>: Only transaction data that can be expressed in terms of money should be included in the accounting records.
Answer: $9,479
Explanation:
The number of periods = 10 years * 4 quarters = 40 periods
Interest per quarter = 10%/4 = 2.5%
$168,000 has been deposited. The value of this cash after 10 years is;
= 168,000 ( 1 + 2.5%) ^ 40
= $451,090.72
Out of $1,090,000, the amount remaining is;
= $1,090,000 - 451,090.72
= $638,909.28
They need to deposit an annuity per quarter to get to $638,909.28.
Future Value of Annuity = Annuity * ([1 + I]^N - 1 )/I
638,909.28 = Annuity * [(1+0.025)^40 - 1] /0.025
638,909.28 = Annuity * 67.40255
Annuity = 638,909.28/67.40255
= $9,479
If the inflation rate is 15 percent. The real interest rate on this bond is:22%.
<h3>Real interest rate </h3>
Using this formula
Real interest rat=Expected inflation rate+ One year yield to maturity
Let plug in the formula
Real interest rate=15%+7%
Real interest rate=22%
Therefore the inflation rate is 15 percent. The real interest rate on this bond is:22%.
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