A business that is small enough to be run by one or a few people and does not require a large amount of capital would be good for a sole proprietorship.
This type of business structure has less bureaucracy and does not require a lot of formality to be managed, making it an ideal setting for family businesses, such as grocery stores and clothing stores.
Therefore, in a sole proprietorship, the owner is responsible for the risks inherent in the business, with greater freedom and flexibility.
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The service Revenue will be:
1. Cash for service performed in 2021 -------------------------- $13,500
2. Bill sent to clients for service performed in 2021--------- $4,100
TOTAL------------------------------------------------------------------------$17,600
The $5,100 received was for the service done in 2020 and this will be decrease the account receivables on the balance sheet while the $2,100 received for work to be done in 2022 will be recorded as an unearned revenue because the service has not been rendered.
Answer:
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Answer:
Federico and Giulia are two students who majored in foreign languages and who have recently been hired by a company that translates documents. Each of them can spend their days translating documents from English to Italian or Spanish. If Federico spends all his day translating documents to Italian with no Spanish, he can translate 10 documents, and if he spends all his day translating documents to Spanish with no Italian, he can translate 8 documents. If Giulia spends all her day translating documents to Italian with no Spanish, she can translate 8 documents, and if she spends all her day translating documents to Spanish with no Italian, she can translate 20 documents.The company requires its workers to translate 4 documents to Italian and 6 documents to Spanish in a day. Is this feasible for Federico? How about Giulia?
Federico
1 day= 10 Italian documents no Spanish
1 day= 8 Spanish documents no Italian
Giulia
1 day= 8 Italian documents no Spanish
1 day= 20 Spanish documents no Italian
It is feasible for both Federico and Giulia, it would only reduce the level of increase in translating another language
Explanation:
Answer;
<span>Combination of two goods that can be produced using limited resources</span>
Explanation;
A production possibilities curve is a graphical representation of the alternative combinations of goods and services an economy can produce. Considering the fact that an economy's factors of production are scarce; they can not produce an unlimited quantity of goods and services, a production curve is crucial in determining the alternative combinations of goods and services. For example if the curve is a straight line, it means the for every unit of good y relinquished, an additional unit of good x can be produced.
