Unlike a corporation:
a. a partnership pays high income taxes on its income b. a partnership pays no income taxes on its income
c. a partnership cannot lose money in a bankruptcy suit d. a partnership cannot have more than two partners
e. a partnership has no duty to creditors before investors
b
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On January 3, 2014, Continental Services, Inc, signed an agreement authorizing Peen Company to operate as a franchisee over a 20-year period for an initial franchise fee of $200,000 received when the agreement was signed. Peen commenced operations on July 1 . 2014, at which date all of the initial services required of Continental had been performed. The agreement also provides that Peen must pay
a continuing franchise fee equal to 6% of the revenue from the franchise annually to Continental. Peen's franchise revenue for 2014 was $900,000 . For the year ended December 31 . 2014, how much should Continental record as revenue from franchise fees from the Peen franchise? a. $100,000 b. $106,000 c. $254,000 d. $266,000
A new owner of a servient estate cannot inherit the appurtenant easement
Indicate whether the statement is true or false
We'll need to ____ the entire report
A) re-write B) rewrite
How did it come about that China, France, Russia, the United Kingdom and the United States are the five permanent members of the United Nations Security Council?
A)They were the primary victors in World War II. B)They are the nations with the largest populations. C)They are the economic leaders of the world. D)They are the nations with the largest military forces.