D a basic need for a constant supply of the item.
Answer:
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Explanation:
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Answer:
May 1
DR Cash $252
CR Service Revenue $252
<em>(To record payment for services rendered)</em>
Working
Cash = Net Service revenue
Net Service revenue = $280 * ( 1 - 10%)
= 280 * 90%
= $252
A partner <u>cannot</u> be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation.
<h3>What is
partnership?</h3>
Partnership arrangements come in many different forms. One type of business where partners may have minimal liability is a partnership where all participants share profits and liabilities equally. Additionally, there is the so-called "silent partner," when one party does not participate in the day-to-day management of the company.
- An agreement between two or more people to manage a business' operations and divide its assets and liabilities is known as a partnership.
- All partners in a general partnership corporation split the company's assets and debts equally.
- Lawyers and other professionals frequently create limited liability partnerships.
A partnership may have tax advantages over a corporation.
To learn more about partnership from the given link:
brainly.com/question/22848646
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