Chapter 13, Problem 8E

  $1)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The reason for importance of interest on capital and best way to measure the capital.

  $2)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The reason of taking bonus on the income computed after bonus.

  $3)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The difference between capital and drawing.

  $4)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The difference, if any, in the distribution of the salary if the employee is considered as legal and getting a paycheck and an annual W- $2$ statement and inclusion of salary in the agreement.

  $5)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The possibility of distributing the profits by equal percentages and to allocate losses in different ratios.

  $6)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The reason for the good idea of making LLC.

  $7)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The importance of LLC to the advisor who is seeking to made contribution in the firm.

  $8)$

To determine

Concept introduction

Partnership firm

People start their own business and select the form of organisation depend upon their need and kind of their business. Partnership is a one form of organisation. In other words, it is a type of business form in which a group of people shares all the profit and losses with each other which are often called as partners comes together and runs a partnership firms.

The reason for being partner and not outside lender.