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更多“In a limited partnership, the liability of every partner is limited to the amount tha”相关的问题
A.Other limited partnerships cannot become limited partners in an existing limited partnership
B.A limited partner is personally liable for the debts of the partnership
C.Corporations are allowed to become partners in a limited partnership
D.A limited partnership can have only one general partner but multiple limited partners
A．Each partner has authority to bind the partnership to contracts．
B．Each partner’s liability is limited to the amount of he or she investeD．
C．Ease of formation．
D．Each partner must pay personal income taxes on his or her share of partnership net incom
E．
A、Partnership.
B、Limited partnership.
C、Limited liability partnership.
D、General partnership.
E、Limited liability company.
A．they are legally complex and costly to form.
B．they take advantage of lax savings available to partnerships.
C．any activity by a limited partner may lead to the loss of his limited status.
D．the areas of business are confined.
B、Each partner's liability is limited to the amount of he or she invested.
C、Ease of formation.
D、Each partner must pay personal income taxes on his or her share of partnership net income.
A、Limited partners are responsible for all debts of the partnership.
B、The income of the general partner is taxed at the corporate income tax rate.
C、Partnerships are never terminated and they have infinite life.
D、None of the above.
A、Level of assurance Report wording resonable Positive
B、Level of assurance Report wording resonable Negative
C、Level of assurance Report wording Limited Positive
D、Level of assurance Report wording Limited Negative
Due to the expiration of business term limited, the flower company is dissolved and established liquidation group by law. Which of the following behavior of liquidation group is legitimate in liquidation process？ A、 To enable shareholders more remaining property, it rent out storeroom to a company for rental. B、 To reduce debt interest, it clear off the debt of company B which can be sure during the time for claiming debt. C、 It inform its partner company C to relieve their supply contract, and give it appropriate compensation. D、 Behalf of the company, it participated in an arbitration, and arrived settlement agreement with the other party
The Board of BJM Co has asked your audit firm (YHT & Co) to conduct a review of BJM‘s compliance with hygiene regulations. The partner responsible for the review engagement has asked you to tell him what level of assurance you believe YHT & Co should provide, and also what type of opinion the firm should give. What is the level of assurance and type of opinion that can be provided on this review engagement？
A、Level of assurance Report wording Reasonable Positive
B、Level of assurance Report wording Reasonable Negative
C、Level of assurance Report wording Limited Positive
D、Level of assurance Report wording Limited Negative
(a) Delhi Co, a potential new client, is a privately owned and rapidly expanding company which currently operates below the audit threshold in the country in which it is based. The company’s management is currently considering having either a full audit or a limited assurance review of their financial statements. The partner would like you to assist the management of Delhi Co by writing a response to them in which you:
(i) Explain the difference between an audit of historical financial statements and a limited assurance review. (4 marks)
(ii) Discuss the relative advantages and disadvantages to Delhi Co of having an audit of their historical financial statements as opposed to a limited assurance review. (8 marks)
Delhi Co was incorporated in 2005, with founder and chief executive Mr Nimesh Dattani as the sole shareholder. After a period of rapid growth, Delhi Co took out a ten-year bank loan facility in June 2007 to finance Mr Dattani’s ambitious expansion plans. This was supported by a further injection of financial capital in 2014 through a new issue of shares in the company. The shares were sold to Mr Robert Hyland, an ex-business partner of Mr Dattani. The sale gave Mr Hyland a 40% shareholding in Delhi Co. He has no involvement in the management of the company.
Until recently Delhi Co operated with a small accounting department, comprising one full-time member of staff and one part-time employee. Due to the expansion of the company and Mr Dattani’s plans to expand the customer base internationally, it has been necessary to increase the size of the accounting function to include two new full-time members of staff. Both of the new recruits are part-qualified accountants and Mr Dattani has committed to sponsoring them through their remaining training and ACCA examinations.
Required:
Prepare the response to the management of Delhi Co as requested by the partner.
Note: The split of the mark allocation is shown against each of the issues above.
(b) The audit committee of another client, Mumbai Co, has asked the partner to consider whether it would be possible for the audit team to perform. a review of the company’s internal control system. A number of recent incidents have raised concerns amongst the management team that controls have deteriorated and that this has increased the risk of fraud, as well as inefficient commercial practices. The audit report for the audit of the financial statements of Mumbai Co for the year ended 31 March 2016 was signed a few weeks ago. Mumbai Co is a listed company.
Required:
In respect of the request for Chennai & Co to review Mumbai Co’s internal control systems: Identify and discuss the relevant ethical and professional issues raised, and recommend any actions necessary. (8 marks)
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