All of the following could file partnership tax returns except
A. single member limited liability company.
B. general partnership.
C. limited liability company.
D. limited liability partnership.
Answer: A
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Compensation expense related to employee stock option plans is to be measured by the excess of the
a. option price over the fair value of the stock at the date the options are granted. b. fair value of the stock over the option price at the date the options are exercised. c. option price over the fair value of the stock at the date the options are exercised. d. fair value of the stock over the option price at the date the options are granted.
Whitney Company treats each division as a profit center and expects a 20 percent profit on its total production costs. Division A produces a part that it sells externally for $19.00. It also supplies this part to other internal divisions. Its production cost for the part is $13.70. What should be the transfer price for the part using the cost-plus approach?
A) $16.35 B) $16.44 C) $19.00 D) $22.80
The primary purpose of the Security and Exchange Commission's Form 20-F is to
a. explain in detail the differences between the internal controls established under the accounting and auditing principles of a foreign country and those of the United States. b. determine the fee a foreign company must pay to register its financial statements with the Securities and Exchange Commission. c. explain in detail the differences between net income computed under the accounting principles of a foreign country and U.S. GAAP. d. explain in detail the differences between total assets measured using the accounting principles of a foreign country and U.S. GAAP.
At the end of the day on March 15, the cash register's record shows $1,957, but the count of cash in the register is $1,965. Prepare the general journal entry to record the day's cash sales.
What will be an ideal response?