A Transaction Has Been Recorded in the General Journal of Manella

question 60

Multiple Choice

A transaction has been recorded in the general journal of Manella Company as follows:

Which of the following could be an explanation for this transaction?

• A)Paid cash to a customer who requested a refund.
• B)Received cash in advance for work to be performed in future months.
• C)Recorded adjusting entry for work completed.
• D)Received cash for services completed.

Identify and describe legal orders and mechanisms available for creditors to claim against partners' interests.

Analyze and interpret court rulings on partnership formation and disputes.

Differentiate between true partnerships and situations that do not meet legal definitions of partnership.

Understand the characteristics and formation requirements of limited liability partnerships (LLPs).

---

Definitions:

Oregon

A state in the Pacific Northwest region of the United States, known for its diverse landscapes ranging from forests and mountains to farmlands and cities.

Polk Administration

The presidency of James K. Polk, the 11th President of the United States, from 1845 to 1849, known for territorial expansion including the annexation of Texas and the Mexican-American War.

Acquiring California

This refers to the process by which the United States added California to its territory, largely through the Treaty of Guadalupe Hidalgo following the Mexican-American War in 1848.

War

A state of armed conflict between different countries or different groups within a country, involving large-scale violence and impacting societies and economies.