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.

View Complete Question

Related Questions in Managerial Accounting

Q : Calculating the Operating Cost &

1. HulaHug Corp., which manufactures hula hoops, currently has two product lines, the Roundabout and the Sassafras. HulaHug has total overhead of $124,478. HulaHug has identified the following information about its overhead activity pools and the two

Q : Cash budget A plan for the cash coming

A plan for the cash coming into and going out of a business. Based on the sale forecast, the timing and amounts of cash receipts. Based on forecast of resources necessary to meet the sale forecast, management budgets the cash disbursements. This proc

Q : Define Investor Relations Investor

Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv

Q : Benefit of economic in accounting

Write down a short note on the benefit of economic in accounting management information?

Q : Provisional Entries Describe

Describe Provisional Entries?

Q : Market Analysis and Logic 1.

1. Contribution After Marketing Assume that the sales forecast for brand TOJO is 160,000 units, and that you expect to sell 50% of these units through mass merchandisers,

Q : Performance evaluation and

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

Q : Define Cost Avoidance Cost Avoidance :

Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.

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 : Fundamentals of Accounting Assignment

Assignment 1: A adjusted Trial balance table given below: Southwest Business School

Discover Q & A

Leading Solution Library

Avail More Than 1417001 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1957591
Asked

3,689

Active Tutors

1417001

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment