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3 years ago

Which of the following is a disadvantage of the sole proprietorship form of ownership?

Business

2 answers:

viktelen [127]3 years ago

6 0

D. Unlimited liability

Viktor [21]3 years ago

5 0

Answer:

D. Unlimited liability

Explanation:

A sole proprietorship is a business owned by a single person who, unlike associations and other more complex business structures (corporations and LLC), does not have to register with the state to exist. If you are the sole owner of a business, you automatically have a sole proprietorship simply because you do business.

A sole proprietorship also has disadvantages. The biggest problem of sole proprietorships is that the owner's personal finances are linked to those of the business. This means that if the business suffers bankruptcy, the same happens to the owner so you have unlimited liability. Therefore, forming a sole proprietorship is more risky. The same happens if the business is sued: the lawsuit also falls against you (which means that you are responsible for all costs associated with the litigation). Sole proprietorships, on the other hand, must pay both income taxes and self-employed employee taxes (Social Security and Medicare). This means that, as the company generates more profits, it must also pay more taxes.

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A property is assessed at $64,410. the county tax rate is 8.9 mills per dollar. what would the monthly payment for taxes be to t

Marta_Voda [28]

The monthly payment for taxes be to the escrow account to $48

$48 Assessed value × tax rate = annual tax amount ÷ 12 = monthly tax amount

8.9 mills ÷ 1,000 = 0.0089 tax rate

$64,410 × 0.0089 = $573.25 annual tax ÷ 12 = $47.77, rounded to $48

<h3>What is property?</h3>

Anything over which a person or a company has legal ownership is considered property. Property can refer to both real objects, like homes, automobiles, or appliances, as well as intangible items with the potential for future value, like stock and bond certificates.

Corporeal property and incorporeal property are the two primary forms of property. Corporeal Property is visible and tangible, but incorporeal Property is not. Additionally, corporeal property refers to the ownership of tangible objects, whereas incorporeal property refers to an intangible right in real estate.

To learn more about property visit:

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5 0

2 years ago

Maria plans to leave her estate to her brother, Juan. Juan has become Maria's

Kipish [7]

A is your answer hope this helps

5 0

3 years ago

Ocean Gate sells external hard drives for $200 each. Its total fixed costs are $30 million, and its variable costs per unit are

Angelina_Jolie [31]

Answer:

What is the firm's degree of operating leverage?

the degree of operating leverage measures the proportion of fixed costs vs. variable costs

total fixed costs = $30,000,000

contribution margin per hard drive = selling price - variable cost = $200 - $140 = $60

tax rate = 30%

expected sales = 2,000,000 hard drives

degree of operating leverage = contribution margin / (total sales - total costs) = (2,000,000 x $60) / ($400,000,000 - $280,000,000 - $30,000,000) = $120,000,000 / $90,000,000 = 1.33

DOL = 1.33

If the economy enters a recession, what will be the firm's after tax profit?

firm's EBIT = total revenue - variable costs - fixed costs

total revenue = 1,000,000 x $200 = $200,000,000
total variable costs = 1,000,000 x $140 = $140,000,000
total fixed costs = $30,000,000

EBIT = $200,000,000 - $140,000,000 - $30,000,000 = $30,000,000

firm's after tax profit = EBIT x (1 - tax rate) = $30,000,000 x (1 - 30%) = $21,000,000

firm's after tax profit = $21,000,000

7 0

3 years ago

Read 2 more answers

Merone Company allocates materials handling cost to the company's two products using the below data:

koban [17]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Modular Homes - Prefab Barns

Total expected units produced 6,200 9,200

Expected direct labor-hours per unit 820 320

The total materials handling cost for the year is expected to be $321,120.

First, we need to calculate the total amount of expected direct-labor hours, because it will be used as the allocation base:

Total direct-labor hours= (6,200units*820hours) + (320hours*9,200units)= 8,028,000 hours

Now, we can determine the estimated manufacturing overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 321,120/8,028,000= $0.04 per direct labor hour

Finally, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated overhead= 0.04* (320hours*9,200units)= $117,760

6 0

3 years ago

Which term refers to the distinctive benefits that make a product different than any other

Oksana_A [137]

Answer:

Unique Selling Proposition (USP)

Explanation:

A unique selling proposition or unique product approval is a distinctive consumer motive, an alternative to image and “entertaining” advertising. USP is a part of the competitive advantage on the basis of which the client chooses a company or product (based on the properties of the product or service).

A unique selling proposition, according to the original theory, consists of three parts (implies the application of all approval points at the same time):

-Each advertising message contains an appeal to the buyer with a promise of specific benefits.

- The offer is formed in such a way that the competitor either cannot give it, or did not manage to put forward earlier.

-Offer must have great power to attract as many consumers as possible.

In marketing, the USP strategy is considered one of the main rational strategies for communicating with potential buyers, a strategy for advertising products.

-USP is determined not only by what is inherent in the product itself;

-USP is determined by what and how it is said about this product in advertising.

In order to skillfully use the UTP strategy in modern conditions, it is important for marketers to understand what kind of statements about a product are perceived as unique, and to be able to predict the features of perception of such advertising.

The task of the marketer, in relation to the USP, is the need:

-assessment of the conformity of the marketing proposal to the consumer's established notions of the integrated quality of the goods.

- anticipate unwanted reactions of potential consumers and try to neutralize them;

- evaluate the uniqueness of the competitors' offer and use a counter-proposal in communication or reveal another uniqueness;

4 0

3 years ago