FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

16. Company B is a partnership business form of 3 persons in whole sale foodstuffs. The partners at the formation did not develop the agreement

image text in transcribed
16. Company B is a partnership business form of 3 persons in whole sale foodstuffs. The partners at the formation did not develop the agreement between them regarding their profit sharing. Which of below scenario will not be suitable scenario for the Company B. (1 Point) O a. Salaries are not allowed instead the Interest of capital will be equally distributed. O b. Profit will be shared equally. O c.5% will be provided to partners every year in case of partner lend the comping. d. Company shall follow the Partnership Act 1890

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing That Matters

Auditing That Matters

Authors: Norman D Marks

1st Edition

1537662023, 978-1537662022

More Books

Students also viewed these Accounting questions

Question

★★★★★
Do the following for each function f (x). (a) Find f'(x) and f"(x). (b) Graph f(x), f'(x), and f"(x) with a graphing utility. (c) Identify x-values where f"(x) = 0, f"(x) > 0, and f"(x) Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
Lee Ann wants to mix tea worth 2 per oz with 100 oz of tea worth 5 per oz to make a mixture worth 3 per oz. How much 2 tea should be used? Ounces of Tea Cost per Ounce (in dollars) Total Cost (in...

Answered: 1 week ago

Question

★★★★★
=+5.7. (a) Write (5.37) in the form E6/"[| X|"] E[| X|")"/"] and deduce it directly from Jensen's inequality.

Answered: 1 week ago

Question

★★★★★
Serena Madison wishes to purchase a $820,000 house. She has accumulated a $180,000 down payment, but she wishes to borrow $640,000 on a 15-year mortgage. For simplicity, assume annual mortgage...

Answered: 1 week ago

Question

★★★★★
External users of accounting information: A ) Are those individuals involved in managing and operating the company. B ) Include internal auditors and managers. C ) Are not directly involved in...

Answered: 1 week ago

Question

★★★★★
Chapter 16 Homework Saved Help Save & Exit Submit Check my work 4 10 points Assume that on January 1, year 1, ABC Inc. issued 8,850 stock options with an estimated value of $13 per option. Each...

Answered: 1 week ago

Question

★★★★★
The pilot choke option: A. B. C. Is an orifice in the main pressure port of a two stage directional valve used to reduce flow to the system. Is a device that throttles the flow of pressurized fluid...

Answered: 1 week ago

Question

★★★★★
The well-insulated, rigid storage tank in the figure below contains air and carbon dioxide, separated by a moveable divider that allows for heat transfer to occur between the two gases. If the air...

Answered: 1 week ago

Question

★★★★★
53. The following are production and cost data for two products, buckets and pails, produced in batches of 600 each. Contribution margin per batch Machine set-ups needed per batch Buckets Pails $360...

Answered: 1 week ago

Question

★★★★★
Use the following is the equilibrium phase diagram for the iron-carbon system to answer the following questions. (Please round compositions to the nearest 0.1 wt.% in your answers and calculations)...

Answered: 1 week ago

Question

★★★★★
Allicyn is building a development dashboard. She discovers she needs to have more focus on factors that explain why certain decisions are made that affect her part of the supply chain. Which area is...

Answered: 1 week ago

Question

★★★★★
2. Stereotypes in Prime-Time TV. Watch four hours of television during the next week, preferably during evening hours when there are more commercials. Record the number of representatives of...

Answered: 1 week ago

Question

★★★★★
d. What differences (if any) were there in the roles that members of the various groups played? Did one group play more sophisticated or more glamorous roles than others?

Answered: 1 week ago

Question

★★★★★
c. What groups were least represented? Why do you think this is so?

Answered: 1 week ago

Previous Question Next Question