Issue and regulation in sole trader and partnership business for natalia Advise miss Natalia atleat 2 Alternative form of oraganisation avaible to her?
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Issue and regulation in sole trader and partnership business for natalia
Advise miss Natalia atleat 2 Alternative form of oraganisation avaible to her?
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- A well written partnership agreement should include each of the following except ________. A. how to settle disputes B. the name of the partnership C. division of responsibilities D. Partners individual tax rateWhat type of assets may a partner not contribute to a partnership? A. accounts receivable B. furniture C. equipment D. personal credit cardsWhich of the following is a disadvantage of the partnership form of organization? A. limited life B. no taxation at the partnership level C. flexibility in business operations D. combining of financial resources
- What is the first step in a partnership liquidation (termination and sale of assets)?In relation to the formation of a partnership, select the correct statement: Group of answer choices: 1 A partnership is property created once a partnership agreement is signed. 2 A partnership can exist without the members being aware that they are in fact in a partnership relationship. 3 A partnership can be created for a non-profitable purpose. 4 To come into existence, a partnership must be registered under the Partnership Law Act 2019.Define and differentiate between sole trader and partnership business with full explanation I need a help on this . Expect answers no plasgism
- MC: Topic: Income Taxation Which of the following is considered a “constructive receipt” of gross income? * A partner’s share in the income of the general professional partnership is credited to his capital account. Payment for the sale is deposited by buyer to the seller’s bank account. Cancellation of debt of employee by employer in consideration of friendship. A and B only All of the aboveQuestion Explain some of the Advantages and Disadvantages of sole trader and partnership business , including the issues and regulations. Full explanation with examples. *No plasgism16- Mutual agency means Top of Form Multiple Choice Creditors can apply their claims to partners' personal assets. The partnership has a limited life. Partners are taxed on partnership withdrawals. A partner can bind the partnership to contracts. All partners must agree before the partnership can act.c
- Question 4 If a partner is insolvent, the first in the order of preference in the distribution of his assets is: a. Partnership creditors b. Separate creditors of the partner-debtor c. Partner's contribution to the partnership d. Pro-rata between the separate creditors and the partnership creditors1. What is plurality with reference to partnership accounting? 2. Why is salary allowance to partners debited to Income Summary rather than to Salary Expense? Are there cases wherein such salary allowance is debited to an expense account? If yes, provide examples. 3. What are the transactions that affect partner’s equity?The first image is the only requirement. The second image was the given and other guide to answer the question if needed (Optional). This is under Partnership Liquidation. Accounting for special transactions course. Thank u