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A key characteristic of a partnership is that each partner (Points : 4) must contribute capital to the business. shares in company assets upon the dissolution of the partnership. is capable of legally contracting. must manage the business.
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Asked 11/17/2014 10:49:11 PM
Updated 11/17/2014 11:05:34 PM
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This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/17/2014 11:04:49 PM]
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User: A key characteristic of a partnership is that each partner (Points : 4) must contribute capital to the business. shares in company assets upon the dissolution of the partnership. is capable of legally contracting. must manage the business.

Weegy: A key characteristic of a partnership is that each partner is capable of legally contracting.
andrewpallarca|Points 45892|

User: A corporation (Points : 4) is chartered under state laws. is chartered under federal laws. remains in existence only as long as its owners are alive. shifts liability of its debts to its owners.

Question
Asked 11/17/2014 10:49:11 PM
Updated 11/17/2014 11:05:34 PM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/17/2014 11:04:49 PM]
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A corporation is chartered under state laws.
Added 11/17/2014 11:05:34 PM
This answer has been confirmed as correct and helpful.
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Questions asked by the same visitor
It is not necessary to post adjusting entries
Question
Updated 11/26/2014 12:13:38 PM
1 Answer/Comment
It is not necessary to post adjusting entries. This is False.

Added 11/26/2014 12:13:38 PM
This answer has been confirmed as correct and helpful.
It is permissible to enter information about a transaction in the ledger accounts first, before entering the information in the journal. (Points : 3) True False
Weegy: It is permissible to enter information about a transaction in the ledger accounts first, before entering the information in the journal. FALSE (More)
Question
Expert Answered
Updated 11/22/2014 7:39:22 AM
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If the owner of a company invested cash in a business enterprise, the transaction would include (Points : 3) debiting Cash and crediting Capital. debiting Capital and crediting Cash. debiting Cash and crediting Revenue. debiting Revenue and crediting Cash.
Weegy: If the owner of a company invested cash in a business enterprise, the transaction would include: debiting Cash and crediting Capital. (More)
Question
Updated 11/22/2014 7:38:51 AM
0 Answers/Comments
A post-closing trial balance is used to prove the equality of debit and credit balances in the general ledger accounts after the closing entries have been posted. (Points : 3) True False
Weegy: A post-closing trial balance is used to prove the equality of debit and credit balances in the general ledger accounts after the closing entries have been posted. True (More)
Question
Updated 7/5/2015 5:51:15 PM
0 Answers/Comments
As Krista explained to her daughters Ashley and Cameron, the report that provides a picture of the firm’s assets and its sources of financing at a point in time is the (Points : 4) balance sheet. income statement. cash flow statement. asset list.
Weegy: The report that provides a picture of the firm s assets and its sources of financing at a point in time is the balance sheet. User: Fixed assets include (Points : 4) land. copyrights. contingency funds. goodwill. Weegy: Fixed assets include Land User: Current debt represents amounts borrowed from banks or other lending sources for _____ or less. (Points : 4) 2 years 6 months 1 quarter 12 months (More)
Question
Not Answered
Updated 11/18/2014 8:00:35 AM
1 Answer/Comment
Current debt represents amounts borrowed from banks or other lending sources for 12 months or less.
Added 11/18/2014 8:00:35 AM
This answer has been confirmed as correct and helpful.
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