Q2:

Which of the following characteristics is NOT related to the partnership form of organization: O A. Voluntary association. O B. Double income taxation. O C. Mutual Agency. O D. Unlimited liability.

Q3

On November 1, 2020, SEEF Trading entered into an agreement by signed a 90-day, 6% note payable with a face value of BD 60,000. How much interest expense is accrued at December 31, 2020 on this note? (Use 360 days a year) O A BD 3,600. O B. BD 0. O C. BD 600. O D. BD 30.

Q4 On Jan. 1, 2021, Manama Company purchased an equipment at a price of $100,000 and paid tax of 10% of this price. Manama Company paid $2,500 for power connections and $6,000 to assemble the equipment. During installing the equipment, a small damage occurred and repaired for a cost of $500. The equipment's cost is: O A. $ 119.000 O B. $ 109,000 O C. $ 100,000 O D. $ 118.500