--%>
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 : Main working areas of the Routing and

    Write a short note on the main working areas of the Routing and personnel department?

    		•
  • Q : What are Arrears What are Arrears ? And

    What are Arrears? And what are the conditions to make Arrears?

    		•
  • Q : Capital expenditure Expenditure that

    Expenditure that increases the dollar amount of fixed assets on the balance sheet. These outlays either increase the value of assets already owned or add additional assets. The payments increase the future benefit of an asset by extending the life of the asset, increa

    		•
  • 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 : Why most of the larger businesses are

    Why most of the larger businesses are not managed as the single unit through one manager?

    		•
  • Q : Techniques to liberate the function of

    Write down the different techniques employed to liberate the function of management accounting?

    		•
  • Q : Information that a manager need to make

    What is the various information that a manager need to make a decision?

    		•
  • Q : Define Fixed Cost Fixed Cost: The cost

    Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan

    		•
  • Q : What do you mean by the term Mission

    What do you mean by the term Mission statements? Briefly describe it.

    		•
  • Q : What is Activity Analysis Activity

    Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much

    		•