--%>
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 : Benchmark test The process of testing a

    The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.

    		•
  • Q : Calls in Arrears What are the various

    What are the various Calls in Arrears? Describe it.

    		•
  • Q : Major tasks of board that runs the

    Write down a short note on the major tasks of board that runs the organization?

    		•
  • Q : Accounts payable Normal 0 false false

    Normal 0

  • Q : Break-even point The operating level at

    The operating level at which the total sales revenue equals the total cost. Total sale revenue is equal to the price per unit times the number of units sold. Total cost equals total variable cost, the number of units sold in time the variable cost per unit and the tot

    		•
  • Q : Reaping the benefits of IT What do you

    What do you mean by the term reaping the benefits of IT? Explain n brief?

    		•
  • Q : How useful is the management accounting

    Briefly define how useful is the management accounting information is?

    		•
  • Q : Define Differential Cost Differential

    Differential Cost: The cost difference predicted when one course of action is adopted rather than others.

    		•
  • Q : Explain Investor Accounting Investor

    Investor Accounting: It is an individual who commits money to investment products with the hope of financial return. Usually, the primary concern of an investor is to diminish risk whereas maximizing return, as opposed to a speculator, who is willing

    		•
  • Q : What is Partnership Partnership :

    Partnership: Whenever two or more persons enter into an agreement to take on business and share its gain and losses, it is a condition of partnership. It can also define as: "Partnership is the relation among persons and who have granted to share the

    		•