財(cái)務(wù)會(huì)計(jì)英語(yǔ) 練習(xí)及答案ch13

1、Chapter 13-Accounting for Partnerships and Limited Liability CorporationsChapter 13Accounting for Partnerships and Limited Liability Corporations PAGE 350 PAGE 349霸CHAPTER辦 13笆ACCOUNT傲ING FOR班 PARTNE拌RSHIPS 藹AND壩LIMITED版 LIABIL隘ITY COR般PORATIO俺NS藹Chapter澳 13岸Account癌ing for懊 胺Partner耙ships a疤nd Limi

2、昂ted Lia哀bility 皚Corpora敗tions搬TRUE/FA矮LSE擺靶1.艾扒There a拔re only胺 four l安egal st藹ructure熬s to fo襖rm and 拌operate暗 a busi礙ness.八ANS:翱板F氨埃DIF:隘佰1班搬OBJ:案壩01胺艾2.霸拌In a ge辦neral p隘artners靶hip, ea笆ch part捌ner is 傲individ拜ually l搬iable t澳o credi盎tors fo岸r debts暗 incurr背ed by t稗he part啊nership鞍, to th白e exte

3、n皚t of th胺e partn班ers ca扮pital b拌alance.骯ANS:扒扒F敖版DIF:胺靶1皚瓣OBJ:百捌01瓣敖3.扒埃A partn翱ership 佰is a le搬gal ent矮ity sep胺arate f版rom its鞍 owners半.班ANS:矮礙F邦辦DIF:敖稗1凹佰OBJ:把傲01盎辦4.絆翱A partn絆ership 翱is subj爸ect to 哀federal捌 income安 taxes.班ANS:藹暗F愛(ài)艾DIF:挨骯1霸岸OBJ:捌芭01翱班5.礙叭A disad八vantage背 of par皚tnershi半ps is t板h

4、e mutu扒al agen吧cy of a斑ll part癌ners.辦ANS:跋襖T笆壩DIF:傲凹1矮哎OBJ:班霸01白癌6.啊阿Each pa扮rtnersh班ip must班 have a昂 writte芭n partn白ership 芭agreeme艾nt.扮ANS:罷案T扳奧DIF:絆胺1埃笆OBJ:鞍巴01爸壩7.按襖Each pa凹rtner m疤ay with鞍draw th百e asset胺s he or捌 she co頒ntribut扳ed to t啊he part邦nership叭 at any背 time.熬ANS:扳半F扒藹DIF:疤熬2稗岸OBJ:柏?cái)[01阿扒

5、8.翱擺When co疤mpared 挨to a co邦rporati班on, one凹 of the辦 major 柏disadva拔ntages 捌of the 罷partner拜ship is邦 its li疤mited l敖ife.澳ANS:吧版T埃矮DIF:白案1霸斑OBJ:藹般01俺安9.百瓣When co盎mpared 爸to a co疤rporati扳on, one板 of the扮 major 懊advanta佰ges 擺of a pa藹rtnersh捌ip啊 is its唉 ease o扒f forma翱tion.耙ANS:胺暗T柏跋DIF:柏皚1捌耙OBJ:礙霸01骯絆1

6、0.阿敗Under a案 Subcha板pter S 霸Corpora班tion, t傲he IRS 拜allows 辦income 絆to pass按 throug案h the c邦orporat矮ion to 哎the ind霸ividual啊 stockh懊olders 拔without邦 the co佰rporati頒on havi拔ng to p按ay taxe哎s on th跋e incom壩e.扒ANS:癌案T拜胺DIF:按班2澳捌OBJ:傲扮01拜扳11.搬辦A Limit隘ed Liab半ility C扳orporat安ion is 笆a busin案ess ent佰ity

7、for盎m that 襖combine藹s the a盎dvantag拔es of t叭he corp壩oration班 and th霸e partn佰ership 鞍forms.板ANS:辦笆T柏版DIF:按鞍1笆阿OBJ:爸爸01跋瓣12.隘爸For tax疤 purpos拌es, a L頒imited 爸Liabili隘ty Corp斑oration安 may el般ect to 艾be trea爸ted as 拔a partn捌ership.藹ANS:稗絆T唉奧DIF:霸胺1盎拔OBJ:盎傲01把半13.敖芭The Lim罷ited Li岸ability凹 Corpor凹ation m

8、矮ay elec拜t to be伴 manage艾r manag耙ed rath愛(ài)er than絆 member皚 manage白d which八 means 辦that on搬ly auth板orized 翱members板 may le奧gally b芭ind the昂 corpor案ation.奧ANS:安板T扒癌DIF:唉愛(ài)1靶艾OBJ:扳拔01叭罷14.礙把Each pa俺rtner h擺as a se挨parate 絆capital敖 and wi班thdrawa礙l accou埃nt.拜ANS:伴哎T啊霸DIF:埃拜1奧般OBJ:案叭02凹?jí)?5.盎骯The cha霸rt of

9、a昂ccounts伴 for a 澳partner盎ship, w矮ith the擺 except把ion of 案drawing背 and ca疤pital 絆account擺s,叭 does 瓣not拜 differ白 from t頒he char埃t of ac吧counts 瓣for a s班ole pro背prietor案ship.安ANS:癌愛(ài)T熬吧DIF:翱癌1敖安OBJ:氨澳02把埃16.跋耙When th矮ere are百 signif巴icant c俺hanges 吧in stoc襖kholder隘s equit耙y, gene礙rally, 罷a retai翱ned ea

10、r昂nings s跋tatemen瓣t is 岸not挨 佰suffici稗ent, re版quiring板 a stat巴ement o啊f stock拔holders扮 equit捌y to be敗 prepar鞍ed.芭ANS:佰壩T敗阿DIF:邦拔1瓣吧OBJ:叭矮02啊背17.敗八The equ靶ity rep礙orting 般for a L胺imited 半Liabili版ty Corp頒oration盎 is sim按ilar to俺 that o班f a par埃tnershi扒p but t阿he chan柏ges in 藹capital唉 are sh笆own on 懊a

11、state半ment of愛(ài) member百s equi巴ty敗.拜ANS:襖吧T半壩DIF:擺扮1吧伴OBJ:敖盎02癌傲18.伴愛(ài)When a 斑partner拜 invest拌s nonca白sh asse佰ts in a凹 partne藹rship, 扒the ass阿ets are癌 record伴ed at t伴he part吧ners b癌ook val白u(yù)e.愛(ài)ANS:骯跋F叭斑DIF:拜佰2吧懊OBJ:鞍耙03靶罷19.版岸Account吧s recei叭vable c俺ontribu瓣ted to 稗the par般tnershi隘p are r哀ecorded瓣 at t

12、he擺ir face胺 value.暗A(chǔ)NS:拔拜T襖八DIF:擺疤1癌佰OBJ:阿罷03礙艾20.礙鞍A new p拌artner 跋contrib靶utes ac瓣counts 皚receiva哀ble to 扮a partn癌ership 斑which a啊ppear i按n the l瓣edger o吧f his s愛(ài)ole pro昂prietor敗ship at澳 $ 20,5敗00 and 扒there w拜as an a稗llowanc癌e for d矮oubtful般 accoun巴ts of $伴 750. 癌If $600把 of the隘 accoun邦ts rece襖i

13、vables辦 are co跋mpletel搬y worth敗less, t啊he part哎nership辦 accoun愛(ài)ts rece懊ivable 靶should 矮be debi艾ted for稗 $19,90靶0.般ANS:凹挨T壩敗DIF:白霸2霸斑OBJ:凹佰03拔鞍21.八俺One rea壩son tha扳t distr埃ibution擺s of in唉come an隘d loss 襖are pre百pared i霸s to ob骯tain th跋e infor白mation 案to reco叭rd a cl傲osing e辦ntry.敖ANS:叭俺T頒吧DIF:八襖1柏靶O

14、BJ:盎把04哎扳22.耙哎If noth胺ing is 巴stated,敗 partne懊rship i叭ncome i扮s divid昂ed in p拌roporti骯on to t奧he indi爸vidual 矮partner挨s capi敗tal bal敗ance.哀ANS:礙扮F班班DIF:把俺2稗般OBJ:皚吧04愛(ài)埃23.版捌The sal藹ary all艾ocation頒 to par扮tners u癌sed in 爸dividin版g net i壩ncome w瓣ould al氨so appe艾ar as s扮alary e白xpense 昂on the 懊partner埃

15、ship in安come st奧atement澳.俺ANS:敗傲F把板DIF:吧班2絆拌OBJ:暗邦04熬版24.凹笆If the 稗article俺s of pa暗rtnersh奧ip prov氨ide for爸 annual稗 salary罷 allowa辦nces of擺 $36,00藹0 and $皚18,000 辦to X an芭d Y res拔pective頒ly and 白net inc佰ome is 熬$30,000辦, Xs s藹hare of百 net in安come is唉 $20,00懊0.愛(ài)ANS:阿矮F罷埃DIF:俺壩2扮笆OBJ:靶岸04哎皚25.板昂If the

16、 拔net inc哎ome of 按a partn傲ership 敖is less扒 than t把he tota靶l(wèi) of th半e allow背ances p搬rovided阿 by the埃 partne哀rship a壩greemen辦t, the 伴differe斑nce mus白t be di版vided a半mong th班e partn傲ers in 昂the inc凹o(jì)me-sha矮ring ra癌tio.捌ANS:拔邦F扳瓣DIF:哀唉2巴靶OBJ:壩扳04安凹26.唉瓣The amo拜unt tha把t a par疤tner wi奧thdraws隘 as a m爸onth

17、ly 氨salary 安allowan把ce does班 not af扮fect th霸e divis敖ion of 拔net inc鞍ome.扮ANS:半絆T吧埃DIF:骯哀2佰靶OBJ:阿耙04胺壩27.案板A devot盎es full胺 time a般nd B de靶votes o芭ne-half半 time t敗o their捌 partne頒rship. 艾 If the案 partne辦rship a哎greemen安t is si霸lent co熬ncernin版g the d壩ivision百 of net拜 income礙, A wil靶l(wèi) recei哎ve a $2斑0,

18、000 s案hare of艾 a net 阿income 絆of $30,愛(ài)000.芭ANS:鞍芭F版邦DIF:骯傲2襖氨O(jiān)BJ:吧昂04胺岸28.襖岸In the 骯distrib壩ution o壩f incom扳e, the 懊net inc板ome is 疤less th敖an the 唉salary 芭and int案erest a暗llowanc稗es gran辦ted, th柏e remai白ning ba哀lance w安ill be 白a negat埃ive amo斑unt tha爸t must 巴be divi絆ded amo哀ng the 懊partner敖s as th百

19、ough it熬 were a伴 loss.案ANS:叭絆T佰扮DIF:暗頒2捌版OBJ:哀阿0429.背Details叭 of the礙 divisi阿on of p頒artners背hip inc拌ome sho鞍uld nor癌mally b埃e discl靶osed in擺 the fi昂nancial背 statem搬ents.扳ANS:靶哎T瓣傲DIF:壩吧2敖伴OBJ:昂按04伴吧30.懊哎Wheneve暗r a par板tnershi皚p is di擺ssolved襖, the a啊ssets a瓣re liqu捌idated.頒ANS:絆百F唉愛(ài)DIF:胺熬1鞍愛(ài)OBJ:胺埃

20、05扮艾31.敗岸When a 叭partner鞍ship di隘ssolves疤, a new稗 partne藹rship i暗s forme唉d and a襖 new pa霸rtnersh邦ip agre把ement s扳hould b巴e prepa啊red.版ANS:壩挨T澳凹DIF:唉版1傲佰OBJ:巴澳05敖氨32.耙八Many pa半rtnersh礙ips pro暗vide fo案r the a笆dmissio搬n of ne伴w partn傲ers or 阿withdra版wals of背 presen邦t partn佰ers in 暗the par斑tnershi按p agr

21、ee熬ment so霸 that t把he firm版 may co扒ntinue 扮to oper扳ate wit啊hout ex唉ecuting叭 a new 癌agreeme八nt.岸ANS:岸熬T罷鞍DIF:癌挨1罷跋OBJ:翱奧05佰稗33.邦胺A perso把n may b芭e admit耙ted to 愛(ài)a partn澳ership 敖only wi盎th the 把consent把 of all叭 the cu隘rrent p斑artners胺.白ANS:跋氨T頒半DIF:案襖1按半OBJ:辦爸05盎奧34.背澳Partner盎ships 唉asset a翱ccounts邦 s

22、hould伴 be cha班nged fr鞍om cost拜 to fai岸r marke氨t value昂 when a疤 new pa拜rtner i癌s admit擺ted to 八a firm 霸or an e艾xisting壩 partne氨r withd班raws an版d dies.辦ANS:壩扒T壩埃DIF:傲壩2俺叭OBJ:扮阿05靶班35.俺藹In admi稗tting a巴 new pa案rtner, 艾the com藹pany ch板ooses t俺o use t壩he purc耙hase of班 an int氨erest m安ethod, 敖the cap疤ital

23、in耙terest 氨of the 俺new par半tner is艾 obtain皚ed from壩 the cu邦rrent p擺artners耙 and bo矮th the 邦total a罷ssets a按nd tota敗l capit絆al are 昂increas背ed.襖ANS:按埃F靶班DIF:板捌2罷搬OBJ:耙阿05版扮36.班跋When a 氨new par凹tner pu盎rchases板 the en吧tire in氨terest 礙of an o昂ld part邦ner, th頒e new p斑artner阿s capit癌al acco盎unt sho吧uld b

24、e 稗credite佰d for t胺he amou半nt he o阿r she p搬aid to 愛(ài)the old柏 partne皚r.疤ANS:扒絆F奧稗D(zhuǎn)IF:扳翱2靶氨O(jiān)BJ:襖敖05俺絆37.敖敗If a ne八w partn佰er is g扳iven a 懊20% int扒erest i版n the f耙irm the板n the n班ew part吧ner wil爸l recei哀ve a 20埃% inter扒est in 般earning般s.奧ANS:阿隘F擺擺DIF:骯熬2翱襖OBJ:哎氨05啊唉38.埃案When a 霸new par拜tner is拜 admitt伴e

25、d by m捌aking a暗n inves阿tment i啊n the p唉artners八hip, th暗e old p骯artners熬 capit爸al acco敖unts ar把e alway般s credi阿ted.般ANS:把斑F半稗D(zhuǎn)IF:霸癌1澳斑OBJ:盎暗05胺跋39.捌罷When a 岸new par安tner is巴 admitt岸ed by m跋aking a阿n inves凹tment o邦f asset扮s in th唉e partn絆ership 八and the澳 new pa拌rtner h矮as to p埃ay a pr氨emium f礙or admi懊

26、ssion, 皚a bonus懊 is div礙ided am唉ong the捌 old pa扳rtners壩 capita頒l accou鞍nts.邦A(yù)NS:跋矮T拔案DIF:半岸2耙唉OBJ:愛(ài)翱05熬襖40.拜扒William罷s has a靶 capita愛(ài)l balan胺ce of $唉42,000 頒after a搬djustin板g the a般ssets t把o fair 稗market 扮value. 般 Mantle拌 contri疤butes $哎22,000 般to rece頒ive a 3板0% inte擺rest in百 the ne邦w partn俺ership.

27、鞍 鞍The骯 bonus 拜paid by矮 Mantle皚 is $2,拔800.罷ANS:巴靶T按芭DIF:唉伴2班矮OBJ:扒澳05伴骯41.俺擺When a 敖partner搬 withdr俺aws fro佰m the p襖artners翱hip, th安e partn稗ership 安dissolv骯es.拔ANS:襖捌T捌辦DIF:安骯1壩阿OBJ:拌按05案靶42.澳礙If 罷not扮 enough扳 partne按rship c百ash or 阿other a拔ssets a笆re avai敗lable t岸o pay t氨he with辦drawing吧 partne頒r,

28、 a li八ability礙 may be案 create按d for t熬he amou骯nt owed扳 the wi瓣thdrawi癌ng part傲ner.吧ANS:傲班T案絆DIF:壩翱1佰般OBJ:柏凹05藹辦43.邦按When a 昂partner藹 withdr癌aws fro白m the p芭artners辦hip by 辦selling稗 his or頒 her in罷terest 暗back to氨 the pa跋rtnersh昂ip, the爸 remain澳ing par扮tners m懊ust pay芭 the wi埃thdrawi奧ng part哎ner a s襖

29、pecifie翱d amoun熬t from 礙their p瓣ersonal扒 assets邦.暗A(chǔ)NS:隘翱F拜胺DIF:吧爸2昂俺OBJ:挨哎05懊傲44.扳骯X sells吧 to A o哎ne-half愛(ài) of a p佰artners胺hip cap岸ital in爸terest 柏that to邦tals $7八0,000 f氨or $40,霸000. A敗s capi八tal acc哀ount in翱 the pa骯rtnersh百ip shou胺ld be c半redited岸 for $4版0,000.佰ANS:隘哀F白跋DIF:芭拌2邦柏OBJ:伴啊05辦敖45.氨啊Whe

30、n a 霸new par捌tner is啊 admitt扳ed to a邦 partne凹rship, 柏all par扳tnershi傲p asset熬s shoul傲d be re拌vised t板o refle啊ct curr傲ent pri扳ces.般ANS:把隘T般巴DIF:翱芭1骯岸OBJ:板藹05澳頒46.氨安If a ne笆w partn般er is t笆o be ad襖mitted 白to a pa矮rtnersh辦ip and 耙a bonus安 is att百ributed扒 to the跋 old pa搬rtnersh奧ip, the邦 bonus 板should 半b

31、e divi霸ded bet佰ween th跋e capit奧al acco半unts of癌 the or艾iginal 骯partner佰s accor版ding to澳 their 半capital吧 balanc扮es.胺ANS:白阿F按哎DIF:白伴2靶疤O(píng)BJ:扮芭05捌氨47.版熬If reti氨ring pa奧rtner A岸 sells 耙his or 拌her int挨erest t佰o B, th叭e partn骯ership 胺should 隘record 凹the ass埃ets pai熬d to A 奧in its 跋account吧s at th笆eir boo霸

32、k value八s.跋ANS:爸半F氨捌DIF:懊扮2拌搬OBJ:奧絆05敖哀48.柏伴When a 艾new par芭tner is靶 admitt礙ed to a八 partne挨rship, 澳bonuses霸 attrib伴utable 捌to eith跋er the 邦old par懊tnershi斑p or to版 the in頒coming 哎partner跋 may be愛(ài) recogn岸ized in叭 accord隘ance wi頒th the 皚agreeme暗nt amon啊g the p版artners挨.瓣ANS:熬鞍T敖昂DIF:啊把1埃啊OBJ:艾扳05般跋49

33、.半拜Dissolu芭tion is把 the te扒rm whic啊h solel癌y means埃 to liq辦uidate 熬the par翱tnershi骯p.柏ANS:俺安F皚巴DIF:跋埃1翱叭OBJ:皚芭06礙絆50.扳拌In a pa艾rtnersh隘ip liqu傲idation氨, gains唉 and lo拌sses on芭 the sa安le of p伴artners挨hip ass懊ets are壩 divide斑d among礙 the pa擺rtners吧 capita岸l accou百nts on 藹the bas岸is of t絆heir ca搬pital

34、b拜alances版.凹ANS:吧隘F凹礙DIF:暗艾2礙安OBJ:熬斑06背吧51.矮扒If the 巴share o礙f losse懊s on re哎alizati爸on of t拔he sale芭 of non叭cash as礙sets ex昂ceed th耙e balan凹ce in a爸 partne背rs cap半ital ac頒count, 骯the res骯ulting 癌balance哀 is cal罷led a d挨eficien盎cy.昂ANS:八埃T巴藹DIF:柏佰1柏胺OBJ:翱壩06敗吧52.霸瓣In a pa案rtnersh罷ip liqu芭idation罷, i

35、f a 骯partner靶 has a 半debit c隘apital 捌balance隘 in his拌 or her芭 capita叭l accou拜nt, he 白o(hù)r she 敗is resp邦onsible般 for co跋ntribut阿ing per藹sonal a礙ssets s阿ufficie邦nt to e靶l(wèi)iminat扳e the d唉eficit.藹ANS:敖傲T矮芭DIF:芭般2吧艾OBJ:辦矮06瓣笆53.捌翱The pro敖cess of疤 windin翱g up th氨e affai俺rs of a俺 partne瓣rship i靶s refer耙red to

36、 罷as real礙ization瓣.暗A(chǔ)NS:疤班F般哀DIF:哀熬1隘板OBJ:敖吧06昂埃54.拜靶The dis跋tributi熬on of c案ash, as傲 the fi柏nal pro敖cess in唉 windin扳g up th啊e affai礙rs of a爸 partne扳rship, 搬is base唉d on th挨e incom澳e-shari背ng rati罷o.哎ANS:扳搬F哀般DIF:敗隘2八稗OBJ:半笆06芭盎55.安斑If a pa鞍rtners暗 capita柏l balan稗ce is a辦 debit 扒after i叭t has a案bsor

37、bed白 its sh瓣are of 熬the los班s on re疤alizati八on, the扒 balanc盎e is re拜ferred 按to as a拔 defici爸ency.爸ANS:啊背T隘哀DIF:扳哀1壩笆OBJ:岸叭06絆捌56.扮辦In the 哎liquida暗ting pr稗ocess, 俺any unc芭ollecte暗d cash 耙becomes巴 a loss熬 to the哎 partne斑rship a柏nd is d挨ivided 捌among t按he rema靶ining p辦artners俺 capit氨al bala唉nces ba癌se

38、d on 挨their i八ncome-s愛(ài)haring 矮ratio.矮ANS:礙罷T按斑DIF:凹搬2胺白OBJ:佰胺06般捌57.爸叭After a傲ll nonc百ash ass搬ets hav啊e been 凹convert安ed to c隘ash and巴 all li頒abiliti罷es paid暗, A, B,擺 and C 愛(ài)have ca艾pital b背alances岸 of $10翱,000 (d扮ebit), 安$5,000 佰(debit)敖, and $把25,000 柏(credit拜). The胺 cash a半vailabl扒e for d班istribu

39、按tion to板 the pa翱rtners 背is $10,拔000.八ANS:盎矮T跋鞍DIF:隘辦2捌暗OBJ:阿伴06扮耙58.霸俺After a擺ll nonc哀ash ass哎ets hav八e been 氨convert罷ed to c佰ash and暗 all li捌abiliti挨es paid敗, A, B,哎 and C 板have ca氨pital b背alances辦 of $15胺,000 (c跋redit),岸 $10,00把0 (debi白t), and啊 $30,00擺0 (cred擺it). C頒s shar絆e of th阿e cash 罷to be d

40、絆istribu襖ted is 芭$30,000靶.壩ANS:昂拌F藹佰DIF:扳笆2襖挨OBJ:般靶06罷骯59.敗凹A ventu瓣re capi百talist 瓣is an i傲ndividu般al or f捌irm tha芭t provi伴des cre跋dit fin按ancing 拌to the 敖company氨.盎ANS:搬辦F藹爸DIF:柏壩1絆芭OBJ:胺霸07搬扒60.搬壩IPO is 般an acro芭nym tha皚t stand半s for i拔nitial 瓣public 阿offerin俺g哀ANS:笆拜T哎癌DIF:藹爸1扒稗OBJ:愛(ài)拜07啊氨61.板斑Un

41、derwr白iting f捌irms or礙 invest頒ment ba罷nkers h拌elp a c版ompany 般not onl稗y deter凹mine th捌e offer扳ing pri按ce for 藹it stoc皚k, but 壩also he藹lp mark安et the 罷stock t巴o their爸 client頒s and t把he publ捌ic.拌ANS:傲哀T辦芭DIF:瓣百1巴拜OBJ:頒背07白MULTIPL奧E CHOIC隘E安頒1.板愛(ài)Which o暗f the f凹o(jì)llowin昂g is ch啊aracter辦istic o瓣f a gen霸

42、eral pa百rtnersh頒ip?辦a.昂The par伴tners h柏ave co-頒ownersh把ip of p跋artners稗hip pro癌perty.叭b.爸The par版tnershi哀p is su搬bject t昂o feder疤al inco辦me tax.跋c.瓣The par笆tnershi八p has a凹n unlim背ited li捌fe.吧d.背The par懊tners h壩ave lim靶ited li疤ability笆.疤ANS:盎斑A矮氨DIF:澳柏1扮愛(ài)OBJ:艾骯01氨拌2.板挨Which o拜f the f骯ollowin礙g is 按n

43、ot擺 a char絆acteris懊tic of 柏a gener襖al part阿nership扮?八巴a.爸the par案tnershi熬p is cr皚eated b骯y a con瓣tract俺b.傲mutual 俺agency皚c.懊partner罷s share跋 equall扳y in ne疤t incom靶e or ne襖t losse吧s unles皚s an ag安reement白 states礙 differ唉ently奧d.岸dissolu皚tion oc骯curs on皚ly when唉 all pa頒rtners 跋agree笆ANS:伴搬D礙柏DIF:頒柏1跋

44、跋OBJ:壩爸01靶矮3.氨扳Which o霸f the f瓣ollowin背g is an唉 advant襖age of 皚a partn翱ership 唉when co巴mpared 氨to a co擺rporati氨on?扮a.拔The par柏tnershi擺p is mo啊re like耙ly have翱 a net 叭income.啊b.案The par俺tnershi熬p is re芭lativel按y inexp拔ensive 按to orga凹nize.奧c.岸The par邦tnershi愛(ài)p invol扮ves few挨er peop氨le to o挨perate.版d.

45、扳The par骯tnershi伴p usual艾ly hire靶s profe懊ssional稗 manage爸rs.佰ANS:鞍扒B八按DIF:斑埃1藹翱OBJ:背唉01般芭4.辦熬W(wǎng)hich o按f the f靶ollowin挨g is a 背disadva敗ntage o拌f a par稗tnershi拔p when 頒compare隘d to a 爸corpora般tion?隘a.疤The par阿tnershi白p is mo稗r(nóng)e like哀ly to h靶ave a n骯et loss霸.捌b.耙The par安tnershi辦p is ea隘sier to哀 organi盎z

46、e.稗c.襖The par盎tnershi啊p is le安ss expe版nsive t暗o organ罷ize.敖d.襖The par艾tnershi伴p has l哎imited 矮life.班ANS:懊礙D壩按DIF:拔熬1敗背OBJ:敗氨01板凹5.矮扮An adva百ntage o按f the p壩artners板hip for唉m of bu爸siness 扒organiz奧ation i叭s 氨a.奧unlimit岸ed liab昂ility胺b.伴mutual 百agency白c.笆ease of暗 format凹ion埃d.白limited盎 life埃ANS:辦巴C礙啊D

47、IF:佰捌1巴矮OBJ:澳伴01白澳6.伴扳The cha藹racteri傲stic of唉 a part半nership敗 that g柏ives th擺e autho翱rity to笆 any pa敖rtner t吧o legal盎ly bind傲 the pa邦rtnersh艾ip and 柏all oth八er part奧ners to岸 busin敖ess con澳tracts 叭is call稗ed 霸a.百u(mài)nlimit白ed liab隘ility巴b.扒ease of扳 format搬ion罷c.靶mutual 奧agency隘d.拌dissolu骯tion胺ANS:傲拔C扮澳

48、DIF:芭瓣1壩奧OBJ:傲愛(ài)01把藹7.吧版When a 鞍l(fā)imited懊 partne凹rship i案s forme邦d 按a.暗the par艾tnershi板p activ拜ities a擺re limi辦ted啊b.柏all par叭tners h罷ave lim拜ited li班ability哀c.敗some of霸 the pa罷rtners 鞍have li敖mited l啊iabilit昂y愛(ài)d.罷none of擺 the pa拔rtners 昂have li敖mited l盎iabilit澳y把ANS:熬敖C絆啊DIF:搬芭1岸敖OBJ:半鞍01班昂8.俺氨Which

49、o壩f the f靶ollowin澳g below擺 is 澳not絆 one of辦 the fo芭ur majo唉r forms版 of bus扒iness e凹ntities百 that a胺re disc熬ussed i佰n this 扳chapter懊?般a.傲sole pr癌oprieto搬rship啊b.翱corpora澳tion笆c.礙partner敗ship隘d.伴subchap翱ter s c壩orporat奧ion鞍ANS:笆扒D澳藹DIF:隘礙1哎安OBJ:扒扳01昂襖9.敖擺Which o搬f the f襖ollowin背g below佰 is疤 按not埃 八a c

50、hara捌cterist礙ic of a絆 Limite巴d Liabi礙lity Co般rporati班on?哎a.癌limited唉 life佰b.哎limited罷 liabil愛(ài)ity傲c.八file ar傲ticles 襖of orga吧nizatio哀n with 礙the sta霸te gove吧rnment拔d.辦avoids 凹mutual 八agency敖ANS:愛(ài)巴D俺艾DIF:按背2壩案OBJ:艾礙01俺敗10.岸巴Account案ing for柏 the da佰y-to-da扒y activ耙ities f扮or a pa巴rtnersh把ip or L愛(ài)imited

51、 敗Liabili半ty Corp拔oration奧 is 辦a.捌the sam埃e as th把e accou捌nting f瓣or any 壩other f柏orm of 哀busines疤s安b.啊the sam巴e as th扳e accou安nting f案or a so岸le prop笆rietors稗hip onl癌y稗c.把is not 把the sam凹e as th矮e accou版nting f熬or any 般other f敗orm of 靶busines襖s扮d.癌the sam傲e as th邦e accou叭nting f絆or a co奧rporati案on

52、only礙ANS:氨叭A哎熬DIF:礙挨1拜澳OBJ:盎罷02唉背11.懊傲When a 般partner稗ship is芭 formed礙, asset氨s contr安ibuted 俺by the 斑partner絆s shoul搬d be re罷corded 敖on the 伴partner伴ship bo搬oks at 骯their 俺a.絆book va佰lues on昂 the pa癌rtners藹 books 邦prior t案o their哎 being 懊contrib挨uted to翱 the pa澳rtnersh隘ip盎b.挨fair ma暗rket va頒lue at

53、盎the tim辦e of th疤e contr愛(ài)ibution凹c.巴origina敖l costs班 to the昂 partne頒r contr傲ibuting岸 them稗d.盎assesse搬d value昂s for p擺roperty班 purpos昂es柏ANS:巴奧B熬跋DIF:擺俺2拔伴OBJ:叭百03靶皚12.癌案As part懊 of the皚 initia矮l inves伴tment, 疤a partn傲er cont盎ributes熬 equipm癌ent tha靶t had o岸riginal辦ly cost版 $100,0敗00 and 斑on whic疤h a

54、ccum笆ulated 俺depreci疤ation o澳f $75,0唉00 has 壩been re白corded.凹 If si拌milar e班quipmen澳t would矮 cost $叭150,000把 to rep辦lace an昂d the p岸artners案 agree 胺on a va矮luation懊 of $40啊,000 fo辦r the c骯ontribu佰ted equ耙ipment,盎 what a搬mount s巴hould b搬e debit跋ed to t傲he equi傲pment a罷ccount?阿a.疤$40,000昂b.哀$150,00斑0拌

55、c.俺$100,00啊0案d.板$75,000案ANS:疤白A矮安DIF:拌稗2絆胺OBJ:愛(ài)皚03叭哎13.唉骯As part辦 of the拜 initia扒l inves疤tment, 啊Oswald 伴contrib八utes ac瓣counts 扒receiva埃ble tha靶t had a俺 balanc哎e of $2斑5,000 i板n the a拌ccounts拜 of a s暗ole pro懊prietor般ship. 霸O(shè)f this挨 amount搬, $1,25傲0 is co芭mpletel哎y worth哎less. 皚For the斑 remain吧ing a

56、cc翱ounts, 奧the par壩tnershi澳p will 盎establi稗sh a pr氨ovision跋 for po氨ssible 背future 按uncolle埃ctible 斑account矮s of $7叭50. Th敖e amoun挨t debit骯ed to A奧ccounts笆 Receiv盎able fo版r the n捌ew part百nership敗 is 瓣a.辦$23,000按b.傲$25,000八c.壩$24,250巴d.般$23,750傲ANS:翱敗D骯皚DIF:扮邦2暗盎OBJ:佰搬03佰百14.吧盎Jack an哀d Jill 八share i八

57、ncome a愛(ài)nd loss半es in a敗 2:1 ra翱tio aft拜er allo盎wing fo哀r salar挨ies to 瓣Jack of伴 $24,00哎0 and $矮30,000 巴to Jill板. Net i阿ncome f敖or the 扳partner襖ship is翱 $48,00疤0. Inc伴ome sho案uld be 搬divided辦 as fol疤lows: 鞍a.隘Jack, $絆24,000;隘 Jill, 般$24,000癌b.凹Jack, $奧21,000;瓣 Jill, 按$27,000斑c.笆Jack, $壩32,000;阿 Jill

58、, 吧$16,000般d.哎Jack, $阿20,000;襖 Jill, 八$28,000安ANS:爸伴D襖頒DIF:隘擺2哎敖OBJ:藹疤04把翱15.扒哎Fred an頒d Ethel頒 share 鞍income 芭equally叭. Duri唉ng the 澳current凹 year t敖he part艾nership傲 net in拜come wa案s $40,0礙00. Fr把ed made愛(ài) withdr哀awals o傲f $12,0爸00 and 隘Ethel m佰ade wit鞍hdrawal背s of $1稗7,000. 懊 At the骯 beginn胺ing of

59、壩the yea昂r, the 唉capital骯 accoun阿t balan熬ces wer矮e: Fred板 capita鞍l(fā), $42,愛(ài)000; Et霸hel cap挨ital, $爸58,000.岸 Fred礙s capit邦al acco瓣unt bal藹ance at稗 the en版d of th斑e year 艾is 隘a.矮$76,500盎b.埃$64,500藹c.背$62,000襖d.般$50,000哀ANS:奧斑D瓣凹DIF:盎巴2吧叭REF:扮靶04盎矮16.拔絆Partner搬ship in安come an鞍d losse邦s are u柏sually 愛(ài)divi

60、ded靶 on the把 basis 般of inte百rest, s拔alaries背, and s巴tated r耙atios b背ecause 藹a.礙partner絆s seldo矮m contr版ibute t按ime and爸 resour俺ces equ艾ally挨b.傲this me懊thod re胺flects 頒the amo稗unt of 懊time de霸voted t捌o the p艾artners八hip by 氨the par熬tners版c.艾it is s吧impler 哎than fo霸llowing叭 the le耙gal rul矮es般d.癌it pre