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  3. 1.) partnership accounting: which one is correct 1

1.) Partnership accounting: which one is correct 1 point Uses a capital account for each...

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Accounting

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1.) Partnership accounting: which one is correct 1 point Uses a capital account for each partner. Uses a withdrawals account for each partner. Allocates net income according to the partnership agreement. Allocates net loss according to the partnership agreement. All of these answers are correct. 2.) The costs of bringing a corporation into existence, including legal fees, promoters' fees, and amounts paid to the government are called: 1 point Minimum legal capital. Contributed capital. Organization costs. Financial leverage. Prepaid expenses 3.) Dillon Snowboards Ltd issued 60 no-par-value common shares for $7,000. The amount of contributed capital arising from this transaction is: 1 point $100 $600 $1,000 $6,000 $7,000 4.) A partner can withdraw from a partnership by: 1 point Selling his/her interest to another person who pays for it in cash. Selling his/her interest to another person who pays for it with assets. Receiving cash or other assets of the partnership equal to the amount of his/her capital account. Receiving cash or other assets of the partnership greater than the amount of his/her capital account. All of these answers are correct go

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