Expert answer:Advanced Accounting
Answer & Explanation:1. This week’s material deals with, amongst other things, the
subject of partnerships and partnership accounting. While the accounting is
relatively straight forward, the subject is partnerships themselves can be very
expansive.
Picture if you will two sisters that want to start a business
together. Sister “A” brings to the table technical knowledge and contacts with
potential customers. Sister “B” brings to the table the physical facilities to
make the product and the cash required to get their business of the ground.
Based solely on this information, would you recommend the sisters start a
partnership or a traditional c-corp together, and why? No other options are
available to you for purposes of this question (LLCs etc don’t count!).
2. You have been exposed to numerous,
high-level financial accounting topics, each with its own challenges and
nuances.
Which particular topic(s) that we covered did you find
challenging or informative, and why?Each answer should be at least 300 words and must include at least one outside references.
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