It is important to name an executor B. To provide that beneficiaries acquire whatever they want from the estate.
<h3>Who is an executor?</h3>
An executor exists as someone who stands responsible for executing or following an assigned task or duty. The feminine form, executrix, may sometimes be utilized.
An executor typically presents the will for probate, brings the action to rescue the assets of the estate, creates distributions of effects to beneficiaries, and produces the debts and taxes of the estate.
An executor handles your estate when it's in probate (aka the procedure of being distributed and carried out). Particularly, they begin and observe through the probate approach. They also manage your assets, pay your obligations, and allocate property to your heirs as summarized in your will
Hence, It is important to name an executor B. To provide that beneficiaries acquire whatever they want from the estate.
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Answer:
The correct answer is C
Explanation:
Data model is the model which is represented the data in a formal way and that could be used as well as created through the business system. This model organize the data elements and also standardize how they link or allocate to one another and to the properties of the entities.
This model states the logical inter- relationship and the flow of data among different elements of the data comprised in the information world. And this model could be used for analysis in the logical data model and for design as a physical data model.
Answer:
The capital deficiency of $33,000 will be shared between Turner and Roth in the proportion of their income and loss sharing ratio of 2:3.
Turner will need to further contribute $13,200 ($33,000 x 2/5)
Roth will contribute $19,800 ($33,000 x 3/5)
Lowe is a limited partner and will not contribute to the capital deficiency.
Explanation:
Lowe as a limited partner is a part-owner of the partnership but his liability for the firm's debts cannot exceed $32,000 being the amount that has invested in the company. As a silent partner, Lowe does not participate in the management of the company.
The Limited Partnership of Turner, Roth, and Lowe is a partnership consisting of general partner(s) like Turner and Roth, who manage the business and have unlimited personal liabilities for the debts and obligations of the Limited Partnership and Lowe as the limited partner. Whereas, Turner and Roth are in charge of the management of the company, Lowe is a silent partner.
Answer:
The answer is option A) The corporation may have liability, but not the individual owners.
Explanation:
The corporation may have liability, but not the individual owners because it is a C Corporation.
A C Corporation legally separates owners' or shareholders' assets and income from that of the corporation. This helps to limit the liability of investors and firm owners since the most that they can lose in the business's failure is the amount they have invested in it.
So, even if the team get sued for negligence because an individual who turned to see the quarterback running naked crashed her car, the corporation will have liability.
Answer:
Cone Corporation
Partial Balance Sheet
As of December 31, 2018
Assets:
Current Assets:
Prepaid Rent $22,000
Investment in marketable securities $60,000
Long-term Assets:
Prepaid Rent (long-term) $22,000
Restricted Funds for Bonds $70,000
Investment in marketable securities $60,000
Liabilities:
Current liabilities:
Notes Payable $40,000
Accrued Interest Payable $32,000
Long-term Liabilities:
Notes Payable $200,000
Explanation:
Cone's assets and liabilities are re-classified according to whether they are short-term or long-term in order to present more accurately the elements of the financial statements.
