Partnership is the economic relationship between two or more persons: a. Who will not pay goodwill b. Who have agreed to not to share profit c. Who will not contribute capital d. Who have agreed to share profit
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Q: the absence of agreement as to distribution of loss,
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A: Hi student Since there are multiple questions, we will answer only first question.
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A: Hi student Since there are multiple questions, we will answer only first question.
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- Which 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 resourcesWhich one of the following would not be considered in the development of a partnership agreement? A. profit and loss levels B. processing disputes C. stock options D. asset contributionsPartnership is the economic relationship between two or more persons: a. Who have agreed to share profit b. Who have agreed to not to share profit c. Who will not pay goodwill d. Who will not contribute capita
- Partnership is the economic relationship between two are more persons: a. Who have agreed to share profit b. Who have agreed to pay tax c. Who have agreed to share goodwill d. Who have agreed to share commissionWhich one of the following is not an advantage of partnership? a. Less profit because profit is shared b. Increased capital c. Increased knowledge and specialist skills d. Shared riskIn participation/partnership based contracts, __ is always subject to the ratio of investment while ___ distribution is based on pre-agreed ratio. Profit, Loss Loss, Loss Loss, Profit Profit, Profit A Mudaraba is a non-binding contract. It means that Rab-ul-Maal or Mudarib, cannot terminate the partnership. True False In Mudaraba profit is shared according to the pre-agreed proportion, while the loss has to be borne exclusively by the: Rabbul Maal Either Rabb ul Maal or Mudharib As per the agreed ratio between Rabbul Maal and Mudharib Mudharib
- Statement : Non-cash contributions of the partners should be recorded at agreed value in the absence of fair market value. Statemernt i: Interest ratio is the means of dividing the profit and losses among the partners. 0 Both statements are incorrect O Both staterments are correct OOnly Statementls correct Only Statement ll is correctIf the income of a partnership is not sufficient enough to satisfy all of the provisions of the partnership’s profit-sharing agreement, how should this deficiency be handled?A partnership is less stable because it can easily disssolved. * What is the basis of capital sharing if the partners do not have an agreement as to of their individual capital contribution?.
- Generally, gain is not recognized on contribution of appreciated property to a partnership. Which of the following situations may be an exception to that general rule? PICK ALL THAT APPLY!!! Question 1 options: The contributing partner contributes appreciated property to the partnership and shortly after receives a large distribution of cash from the partnership so that most of the partner's interest in the partnership is liquidated. The exchange appears to essentially be a partial sale of the property through the partnership form. The partner contributes appreciated property to a partnership and the partner is not in control of the partnership (over 50% ownership). A partner receives a capital interest for services performed for the partnership. The partner contributes a property to the partnership that is encumbered by a recourse liability, the partnership assumes the liability, and the net effect of these is to take…Any assets invested by a particular partner in a partnership ________. A. do not become a partnership asset but instead remain with the partner B. can be used only by the investing partner C. become the property of all the partners D. are the basis for all profit sharingWhich of the following items decreases a partner's at-risk basis? (a) A borrowed amount, secured by property used outside the activity, contributed to the partnership by a partner. (b) Cash contributed to the partnership by the partner. (c) Cash distributed to the partner by the partnership. (d) The partner's distributive share of net gains from the partnership.