Acct 1105 financial accounting discussion (due 6/21/22)
LM 3 Discussion Board
1. Mention and Explain the four most common legal forms of organization.
2. Explain the characteristics of :
a. Limited Liabilities Company
3. Mention and explain three provisions of partnership agreement?
4. In the absence of partnership agreement, how does partnership share profit or loss?
5. How does a partnership admit a new partner?
6. Define the concept of ” Partner Bonus”, and state how does partner bonus determined.
7. Explain what happens to partnership when:
a. A partner withdraws.
b. A partner dies.