1. Which of the following are not organizational costs incurred to organize a new partnership?

a)Costs incurred in investigating the acquisition of a new business.

b)Accounting and legal fees incurred in starting up the business.

c)Costs incurred for creating a new business

d)Filing fees & fees for preparing regulatory documents

2.

Which of the following are costs incurred to start-up a new partnership?

a.Pre-business advertising

b.Setting up accounting system

c.Salaries paid to managers to establish partnerships business

d.Costs for marketing and selling the partnerships ownership interests

e.A, B, and C are costs to start-up a new partnership