<u>All that applies to be in existence of a partnerships are:</u>
- Sharing of profits or loses
- joint ownership of the business
- equal right to be involved in the management of the business.
Option B, C and D.
<u>Explanation:</u>
Partnerships is an agreeable association of any 2 members or more than two members to pursue any business co-relatively together, as a profit business. Therefore, the essentials of a partnerships are most importantly joint ownership of the business as the business of profit must be jointly held by the partners.
Other essentials include the equal right to be involved in the management and enjoying the shares of the profits as well as suffering the share of the losses in the business co- owned.
Answer:
d. $10000
Explanation:
the fair market value of the land in 2020 is $65000 therefore the subsidiary bought the land at a fair market value of $55000 therefore the subsidiary made a profit of $10000 so that is the amount that the subsidiary gained from making the sale and it will be recorded on the consolidated income statement as a gain on sale of $10000.
Answer:
b. From a commercial market into a reseller market.
Explanation:
It is a commercial marketing following the fact that the marketing organization defines success primarily in terms of financial gain.
This financial gain is the same reason for expansion.
Supplying to other stores who will in turn sell to others makes it a reseller market.
Answer:
The profit margin controllable by the Central Valley segment manager is: $ 95,000.
Explanation:
Only items directly controllable by the Manager should be included in the divisional financial performance measure.
<u>Central Valley Division</u>
Revenues $ 405,000
Less Variable Costs :
Variable operating expenses ($ 230,000)
Controllable Contribution $ 175,000
Less Controllable fixed expenses ($80,000)
Controllable Profit $ 95,000
Hi!
The answer is D
Happy Studying!~ Simple Girl ~