--%>
Assignment Help - homework help

Partnership from Accounting point of view

Describe the status of partnership from an accounting point of view?

Answer: From an accounting point of view, partnership is a separate business entity. From legal point of view, though, a Partnership, similar to a sole proprietorship, is not separate from the owners.

   Related Questions in Managerial Accounting

  • Q : VAT entry How to make a VAT entry in

    How to make a VAT entry in books including set off?

  • Q : Adjunct account An account in financial

      An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred

    		•
  • Q : Developing objectives and plans in

    Write down a short note on the developing objectives and plans in decision making process?

    		•
  • Q : Chapter 10 Unfocused Books is a

    Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos

    		•
  • Q : Performance evaluation and

    Write down a short note on the Performance evaluation and control in decision making process?

    		•
  • Q : What find out the size of this loss

    What find out the size of this loss? The size of the deadweight loss is based on the elasticity of supply and demand. As the elasticity of demand increases and the elasticity of supply decreases, that means as sup

    		•
  • Q : What is Direct Cost Direct Cost : The

    Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o

    		•
  • Q : Explain Cost or Benefit Analysis Cost

    Cost or Benefit Analysis: The Cost-benefit analysis (abbreviated as CBA) is an analytical device for assessing and pros and cons of moving forward with the business proposal. It is a process by which business decis

    		•
  • Q : Define Job Costing Job Costing : It is

    Job Costing: It is an order-specific costing method, utilized in situations where each job is distinct and is executed to the customer's specifications. Job costing includes keeping an account of direct and in-direct costs.

    Q : Explain Responsibility Segment

    Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;