1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vilka [71]
3 years ago
14

Which of the following statements is correct about the requirements of an LLP?

Business
1 answer:
Ber [7]3 years ago
8 0

Answer:

The correct answer is letter "B": The business name must include the phrase Limited Liability Partnership or an abbreviation of the phrase, and the parties must file a form with the secretary of the state.

Explanation:

A Limited Liability Partnership or LLP is the type of business structure where partners are only liable for what they contribute to the firm. This implies if the firm goes into bankruptcy, the personal assets of the partners are not subject to liability. Under this type of partnership, the business name must include at least its abbreviation (LLP) and when setting up the firm, a letter to the secretary of state must be addressed informing about the creation of the new entity and its core purposes.

You might be interested in
1. Day Corp. holds 10,000 shares of its $10 par value common stock as treasury stock reacquired in Year 2 for $120,000. On Decem
katovenus [111]

Explanation:

According to the accounting cost method , the reissuance of the treasury stock would be credited to the additional paid in capital which represents the remaining amount i.e deduct $120,000 from the $190,000

And, the net income for the year 6 is

= Increase in assets - Increase in liabilities - Increase in capital stock - Increase in additional paid in capital + Dividend payment

= $356,000 - $108,000 - $240,000 - $24,000 + $52,000

= $36,000

7 0
4 years ago
The following present value factors are provided for use in this problem.
Sati [7]

Answer:

$7,213.40

Explanation:

The computation of the net present value is shown below:

= Present value of all yearly cash inflows after applying discount factor - initial investment

where,  

Initial investment is $50,000

And, the present value till 3 year would be

= Annual cash flows × PVIFA factor for 3 years at 12%

= $18,000 × 2.4018

= $42,232.40

And, the present value for fourth year would be

= Annual cash flows × present value factor

= $22,000 × 0.6355

= $13,981

So, the total present value would be

= $43,232.40 + $13,981

= $57,213.40

Since the annual cash flows are same for the three years so we use the PVIFA table

Refer to the PVIFA table

Now put these values to the above formula

So, the value would be equal to

= $57,213.40 - $50,000

= $7,213.40

8 0
3 years ago
Dan has a personal umbrella policy with a $1 million limit. The self-insured retention is $250. Dan has a homeowners policy with
alekssr [168]

Answer:

The personal umbrella policy is excess liability insurance that provides protection against legal liability that is over and above that provided by auto, home, and boat insurance. People with significant assets need an umbrella liability policy to cover lawsuits that can sometimes amount to millions of dollars.

The umbrella policy also has broad coverage that covers some claims that wouldn't be covered at all by home and auto insurance, such as personal injury lawsuits arising from false arrest, slander and libel, or rental units that the insured may own. Not only is the cost of direct damages covered, but also the cost of consequential damages, such as the lost income suffered by a severely injured person because of the injuries. The personal umbrella policy also pays for the legal defense of lawsuits that is in addition to the policy limit for damages. So if you are sued and held liable for $1 million, and your legal costs are $200,000, then a policy providing $1 million of coverage will pay the full claim plus the $200,000 for legal costs.

Explanation:

5 0
4 years ago
occurs in markets with a high concentration of sellers. Any price offered by one company will be matched by its competitors in o
Vera_Pavlovna [14]

Answer:

The answer would be PRICE SIGNALING

Explanation:

Price signaling may occur when consumers have  imperfect information about product quality. To infer quality, consumers may rely on previous experience or may use some of the product’s observable characteristics, such as  the product’s price. We examine the scenario whereby the firm can endogenously change  consumers’ beliefs about the product’s quality by altering both the price and quality of its product. Our main findings are that, in this type of setting, price signaling causes  the firm to raise its price, lower its quality, and dampen the degree to which it responds to cost shocks. If the cost of adjusting quality is sufficiently high, the dampening effect  is pronounced in the downward direction, meaning that price signaling  causes prices to  respond less to cost decreases than cost increases.

8 0
3 years ago
Sarah owns and operates a retail sporting goods business as a sole proprietor. Her store is located on the ground floor of a two
Soloha48 [4]

Answer:

A. $70,000

Explanation:

From the information given, we discover that

Gross profit from sporting goods business = $100,000

Subtract: other Expenses = 11500

Subtract: Building depreciation expenses (10000 × 55%) = 5500

Subtract: Mortgage Interest (10000 × 55%) = 5500

Subtract: Depreciation on vehicle used for business = 3000

Less: Utilities for Ground Floor = 4500

Net Self employment Income = $70,000

Note that 55% is used for ground floor, it is calculated as 100 - 45% used by tenant, therefore, for business purpose 55% will be taken.

7 0
3 years ago
Read 2 more answers
Other questions:
  • Candy Co. exchanged inventory with Dandy Co. in a transaction that lacks commercial substance. Both Candy’s and Dandy’s inventor
    7·1 answer
  • Whats 63% of 1827?<br><img src="https://tex.z-dn.net/?f=%20%7B7%20%5Ctimes%208%7D%5E%7B2%7D%20" id="TexFormula1" title=" {7 \tim
    8·1 answer
  • The file manager is a user blank.
    10·1 answer
  • On March 2, 2015, Best Buy co. announced that it planned to repurchase up to $1 billion of its common shares. The company also a
    10·1 answer
  • What are the steps to using a database template? Use the drop-down menus to complete them.
    12·2 answers
  • Benitez Co. had sales of $800,000 in 2016. The company expects to incur warranty expenses amounting to 3% of sales. There were $
    12·1 answer
  • If Project Repat were to acquire another firm that makes or sells similar products in similar markets, it would be an example of
    8·1 answer
  • At Bell’s Furniture, assemblers are paid according to the following differential piece rate scale: 1−20 dressers in a week, $7 e
    11·1 answer
  • SmartCorp sells 500 units, resulting in $75,000 of sales revenue, $32,000 of variable costs, and $20,000 of fixed costs. The num
    6·1 answer
  • An organization that has all its people in one location is typically ________ than an organization that is dispersed around the
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!