Answer:
The correct answer to the following question will be Option A (Corporation).
Explanation:
A Corporation seems to be a separate legal entity and is different from its proprietors. Corporations possess most of individual responsibilities and rights: they can sign contracts, lend and borrow the money, sue and prosecute, hire workers, own properties, and paying taxes. Some call him a "legal person".
A company form that declares the enterprise as a distinct, corporate entity governed by people known as the management board. Perhaps the most beneficial way to begin an enterprise is a corporate structure, as the organization operates as a distinct entity.
Therefore, Option A is the right answer.
Answer:
b. $4,908,000
Explanation:
According to the FASB GAAP, the straight line method is used in this given question which is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($40,900,000 - $4,090,000) ÷ (15 years)
= ($36,810,000) ÷ (15 years)
= $2,454,000
In this method, the depreciation is same for all the remaining useful life
For two years, the accumulated depreciation would be
= Annual year depreciation × number of years
= $2,454,000 × 2 years
= $4,908,000
A 10-K is just a <u>more detailed Annual Report</u>, without the visuals.
They includes info regarding the company and it's <u>financial performance</u> over the <u>last year</u>.
<u>Balance Sheet's</u> are <u>financial statements</u> that report a company's assets, liabilities, and equities at a <u>specific point in time</u>.
Therefore, we can conclude that 10-K reports include Balance Sheets