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FromTheMoon [43]
3 years ago
7

Which of the following is not considered a legitimate expense of a partnership? a Interest paid to partners based on the amount

of invested capital. b Depreciation on assets contributed to the partnership by partners. c Salaries for management hired to run the business d Supplies used in the partners' offices.
Business
1 answer:
never [62]3 years ago
8 0

Answer:

a Interest paid to partners based on the amount of invested capital.

Explanation:

A partnership is formed between two parties that agree to go into a venture for mutual gain. The parties share ownership of the business entity and as such are entitled to profit from their equity holdings.

Interest paid based on invested capital is considered a distribution of profit by the business and not an expense. This is similar to sharing profit to shareholders in a company.

Legitimate expenses include: cost of sales, staff cost, administrative costs, advertising costs, and professional expenses like hiring an accountant.

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The fact that we cannot have everything we want is caused by?
Akimi4 [234]
The reason everybody doesn't have what they want is that, i<span>f everybody could </span>have everything<span> they </span>want<span>, whenever they </span>want<span> it, then </span>we<span> wouldn't need economics. Or maybe politics or warfare, either. </span>We<span> could all just sit around playing on top of our endless mountain of toys. But the real world doesn't work quite like that. </span>We can't have<span> it all. </span>We have<span> to make choices. Hope I helped!</span>
6 0
3 years ago
Read 2 more answers
The time horizon of the demand curve is one determinant of the price elasticity of demand.If the price of gasoline is relatively
Genrish500 [490]

Answer:

more

Explanation:

we know that here Price Elasticity of demand  is express as

Price Elasticity of demand = PercentageChange is quantity demanded ÷ PercentageChange in price    ...........................1

so that, Demand for gasoline is more elastic in the long run than in the short run because in the long run people can change their preferences and choices.

3 0
3 years ago
Indicate whether the following statements are true or false.
dezoksy [38]

Answer:

1. False,

2. False,

3. False,

4. True

Explanation:

1. Managerial accounting reports focuses on entire net profit and not specifically the manufacturing and non manufacturing cost, and are not specifically used in the budget process.

2. No financial accounting reports all the finance related issues in details but is not divided into sub units.

3. No managerial reports are not audited, they are for internal controls and are to follow GAAP but not mandatory requirement for audit.

4. Managers are responsible for the management of business, for this the main three steps are: Planning Directing and controlling.

7 0
3 years ago
X2 buys back the bonds for $103,000 immediately after the interest payment on 12/31/2022 and retires them. What gain or loss, if
Anastaziya [24]

Answer:

The answer is $327 loss

Explanation:

Gain (loss) = Carrying Value-buy back value

= 102673-103000

(loss) = 327

So the answer is <u>$327  loss</u>

6 0
3 years ago
Read 2 more answers
The private consumption of services that generate positive externalities, such as getting a college education, is usually _____
Naily [24]

Answer:

<em>Less than</em>

Explanation:

The services which are privately consumed that generates benefit to the third party that is also known as the Positive Externality.  

For the example, the college education, it is basically a private or personal benefit for the one who is studying and getting the private benefit as its education, <em>and it is usually </em><u><em>less than</em></u><em> the socially optimal level regarding the consumption. </em>

Because the socially optimal level is the point where MSB (that is the marginal social benefit) intersects MSC (that is the marginal social cost).

5 0
3 years ago
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