Question
please help with this thank you Which of the following is an advantage of a general partnership when compared to a corporation? a.The partnership is
please help with this thank you
Which of the following is an advantage of a general partnership when compared to a corporation?
a.The partnership is relatively inexpensive to organize.
b.A partnership is more likely to have a positive net income.
c.Creditors to a partnership cannot attach personal assets of partners.
d.The partnership usually hires professional managers.
When a new partner is admitted to a partnership, there should be a(n)
a.increase in the total owners' equity of the partnership
b.new capital account added to the ledger for the new partner
c.increase in the total assets of the partnership
d.debit amount to the partner's capital account for the cash received by the current partner
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