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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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There are numerous reasons why it is a good idea to know the engine size of a vehicle. The size of an engine will let a driver know the horespower that the car has. It will also let the person know how much fluids are needed in the car such as oil, transmission fluid, radiator fluid, etc. The size of the engine is also needed when a person goes to buy a battery for the car. The size of the engine is also needed when you go and buy parts for the car. 
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3 years ago
Read 2 more answers
Based on Esteban’s conduct, Floyd reasonably believes that Glynis has the authority to act on Esteban’s behalf even though Glyni
german

Answer:

may be estopped from denying that Glynis had authority.

Explanation:

In this case, Glynis apparently had the authority to collect Esteban's money, since his conduct made other people believe that.

Apparent authority is defined as a situation where a reasonable person (Floyd) will believe that the agent (Glynis) has authority to act on behalf of the principal (Esteban). If such a situation exists, then the principal is bound by the agent's actions.

3 0
3 years ago
Turtle Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Sel
hichkok12 [17]

Answer:

Operating income variance= $10,000

The increase in advertising will have a positive effect on operating income.

Explanation:

Giving the following information:

Per Unit Percent of Sales Selling price $ 150 100 % Variable expenses 60 40 % Contribution margin $ 90 60 % The company is currently selling 7,000 units per month. Fixed expenses are $209,000 per month. The marketing manager believes that a $7,100 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales.

Price= $150

Contribution margin= $90

Operating income variance= (contribution margin* units) - increase in costs

Operating income variance= (190*90)- 7100= $10,000

The increase in advertising will have a positive effect on operating income.

5 0
3 years ago
Ingrid is single with no dependents. She has been in the hospital with a coma for the last 2 weeks. Her bills are piling up and
Ira Lisetskai [31]

Answer:

C. Whoever is named in her durable power of attorney

Explanation:

A Durable Power of Attorney can be used to allow another person to sign contracts, pay bills and take care of the banking on behalf of Ingrid. The Durable Power of Attorney remains effective even in circumstances when Ingrid becomes incapacitated. However, Ingrid needs to be mentally competent by the time of signing the Durable Power of Attorney.

3 0
3 years ago
What is a major purpose of patents, trademarks, and copyright protections in a capitalist society?
evablogger [386]

Answer:

A. To reward creative and innovative individuals

Explanation:

A patent is a record of intellectual and scientific activity on the outcome of an experiment that will benefit society as a whole. For example, when a company creates a new medicine, it is entitled to a patent. This ensures that only she can market that medicine for a certain number of years. A patent is a form of stimulating research and innovation, as it guarantees the owner the rights to market. If this were not protected, there would be no incentive to develop new components as everything could be quickly copied by other companies, which would be unfair to those who struggled to create the product.

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