上海对外经贸大学 高级财务会计学笔记-高级财务会计学（英）chapter 16.pdfVIP

AdvancedAccounting,12e(Beamsetal.)

Chapter16Partnerships-Formation,Operations,andChangesinOwnership

Interests

16.1MultipleChoiceQuestions

1)UndertheUniformPartnershipAct,loansmadebyapartnertothepartnershiparetreatedas

A)liabilitiestothepartnershipforwhichinterestshallbepaidfromthedateoftheadvance.

B)advancestothepartnershipthatarecarriedinthepartnerscapitalaccounts.

C)AccountsPayableofthepartnershipforwhichinterestispaid.

D)advancestothepartnershipforwhichinterestdoesnothavetobepaid.

Answer:A

Objective:LO2

Difficulty:Easy

2)Apartnerassignedhispartnershipinteresttoathirdparty.Whichstatementbestdescribesthelegal

ramificationstotheassignee?

A)Theassignmentofthepartnershipinterestdoesnotentitletheassigneetopartnershipassetsupona

liquidation.

B)Theassignmentdissolvesthepartnership.

C)Theassigneehastherighttoshareinthemanagementofthepartnership.

D)Theassigneedoesnotbecomeapartnerbuthastherighttoshareinfuturepartnershipprofitsandto

receivethepropershareofpartnershipassetsuponliquidation.

Answer:D

Objective:LO4

Difficulty:Easy

3)IntheUniformPartnershipAct,partnershave

I.mutualagency.

II.unlimitedliability.

A)Ionly

B)IIonly

C)IandII

D)NeitherInorII

Answer:C

Objective:LO1

Difficulty:Easy

4)Partnerships

A)arerequiredtoprepareannualreports.

B)arerequiredtofileincometaxreturnsbutdonotpayFederalincometaxes.

C)arerequiredtofileincometaxreturnsandpayFederalincometaxes.

D)arenotrequiredtofileincometaxreturnsorpayFederalincometaxes.

Answer:B

Objective:LO1

Difficulty:Easy

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