Answer each of the following 4 questions or provide explanations/discussions wit
Answer each of the following 4 questions or provide explanations/discussions with approximately 200 words each response (total of 800 words).
(1) Determine how accounting for a partnership is different from accounting for a corporation. (2) For a government, what kinds of operations are accounted for using a proprietary fund? Give three examples.
(3) How does a recipient not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? What if the donor retains the right to revoke or redirect the gift?
(4) Explain the choices an executor of an estate has in determining the values of assets included in the estate for tax purposes.