Answer:
C. The termination of the firm's legal existence.
Explanation:
General partners are individuals, two or more , who come together to own a business and controls daily activities of the business. Each member has unlimited liability and their action can legally bind the activities of the business. They share profit and losses equally.
According to fact pattern 27-3, if the partners agree to dissolve one of their business line- equity lending as in the case above and the company's assets are shared among the partners, it would result in the termination of the firm's legal existence.
Once there is a breach by any of the partners as contained in the partnership agreement and the partner's asset shared, that is dissolution. The partnership business has therefore been terminated legally and cease to exit.
Answer:
The remaining part of the question is:
McDonald's trademarked name and menu items represent, in essence, which form of market entry?
A) joint ventures
B) franchising
C) 100% ownership
D) exporting
E) acquisition
Correct Answer:
B) <u>franchising
</u>
Explanation:
Franchising is a business model whereby a company that their specialty is in retailing industry, as well as the fast-food industry, adopts a global expansion through other companies by licensing their business name and trademarks to them.
Answer:
$39,000
Explanation:
This can be calculated as follows:
Charitable contribution to carry forward = Contribution to church + Contribution to qualified charities + Half of the fair market value of contributed religious artwork
Therefore, we have:
Charitable contribution carry forward = $6,000 + $3,000 + ($60,000 ÷ 2) = $39,000
Therefore, the amount of the charitable contribution carry forward beyond the current year for Gina Hestopolis is $39,000.
Answer:
B, For a partnership, it is calculated at the entity level.
Explanation:
For a partnership, it is calculated at the entity level. This is to ensure that double income computation is avoided.
Answer: Enterprise fund
Explanation: In simple words, enterprise funds refers to the government fund which is self supportive in nature. Under such funds, government entities such as municipal parties sells goods and services to the public for a specific fee.
The basic objective of implementing enterprise fund is to make revenues out of the facilities that an entity provide so that funding of the operations of such entity can be done properly.
The funds are collected and used by the specific entity but the fee is determined by the government itself.
