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Which of the following is true of the distribution of profits earned by a partnership?
In a partnership, profits are typically distributed according to the terms outlined in the partnership agreement, which may specify equal distribution or allocation based on each partner's contributions or roles. If no specific agreement exists, profits are usually divided equally among partners. Additionally, partners are also responsible for sharing losses, reflecting their joint investment in the business. Overall, the distribution of profits can vary widely depending on the partnership's structure and agreements.
What is the economic function of profits and losses?
The economic function of profits and losses is to determine the performance of a company. This is what will contribute to the overall measure of the economy in a region.
What are the distribution of profits to corporate owners?
Dividens
What are the after-tax distribution of profits to corporate owners?
Dividens
What is divisible profit?
The profits available for the distribution among the shareholders of a company as dividend are called divisible profits.
What are the after-tax distribution of profits to corporate owners called?
Dividens
Division of profit and losses in partnership?
Profits and losses are shared evenly Except otherwise stated in the contract.
A firm jointly owned and run by two or more people who share all profits and losses is a?
A firm jointly owned and run by two or more people who share profits and losses is a partnership.
Can current year profits be offset by prior year suspened losses?
Yes, in many tax jurisdictions, current year profits can be offset by prior year suspended losses through a process known as loss carryforward. This allows businesses to apply unused losses from previous years to reduce taxable income in the current year. However, specific rules and limitations vary by jurisdiction, so it's important to consult tax regulations or a tax professional for precise guidance.
Does empirical rules always apply to discrete probability distribution?
the empirical rules of probablility applies to the continuous probability distribution
Why do you prepare a profit and loss appropriation account?
profit & loss appropriation accounts are prepared after profits. Basic purpose is to show how the profits are distributed.NOT only profits but also concerned losses.
What does the word entrepreneur?
Entrepreneur is a person who actually does the business. He/She is responsible for the profits or losses.
