_____________ are companies that are similar to s corporations but are not restricted with similar eligibility requirements.

1 answer:

4 0

"Limited liability companies" are companies that are similar to s corporations but are not restricted with similar eligibility requirements.

A limited liability company is a corporate structure whereby the individuals from the organization are not actually obligated for the organization's obligations or liabilities. Limited liability companies are half and half elements that join the attributes of an enterprise and an association or sole proprietorship. While the constrained risk include is like that of an enterprise, the accessibility of move through tax assessment to the individuals from a LLC is a component of organizations.

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-True-False 18. All types of extinguisher can use in any kinds of fire. - True False

Simora [160]

All types of extinguisher can use in any kinds of fire.

False

All types of extinguishers cannot be used in any kind of fire. Let's understand this statement with an example...

Example:- Suppose that a fire has taken place due to some electrical issues. This kind of fire cannot be extinguished by water because water is a good conductor of electricity...~

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2 years ago

Outback Corp. recorded sales of $1,300,000 in 2010, in addition the company's accounts receivable balance grew from $120,000 at

klemol [59]

Answer:

$1,255,000

Explanation:

The increase in accounts receivable is the portion of the current year sales revenue that has not been received in cash, hence, the cash collected from customers in the year 2010 is simply the sales adjusted for the impact of accounts receivable as shown below:

cash collection=sales revenue+beginning accounts receivable-ending accounts receivable

sales revenue=$1,300,000

beginning accounts receivable=$120,000

closing accounts receivable=$165,000

cash collection=$1,300,000+$120,000-$165,000

cash collection=$1,255,000

8 0

3 years ago

Jones, a consulting manager of Miller & Co., is considering membership on an audit client's board of directors. Jones does n

vfiekz [6]

Answer:

C. Jones may not join the board because the rules prohibit all firm professionals from serving as a director of a client.

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3 years ago

The following does not describe the matching principle

Marizza181 [45]

Answer: The correct answer is c. Expenses are reported on the income statement when cash is paid.

Explanation: Matching principle states that expenses are matched with the related revenue in the same period, that is, expenses incurred to generate related revenue are recorded during the same time interval the related revenue is recorded in order to show the true and fair position of the profitability of the company.

Based on the above definition, only option C does not align with the matching principle because expenses should be recorded in the income statement when incurred and NOT when cash is paid. If it is recorded when cash is paid, it means cash basis of accounting is being applied.

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3 years ago

1) Write an SQL statement for the HAPPY INSURANCE database that adds the column ClientPhone to the table CLIENT.

Sindrei [870]

An SQL statement for the HAPPY INSURANCE database that adds the column ClientPhone to the table CLIENT is:

ALTER TABLE dbo.CLIENT

ADD ClientPhone

This refers to the use of databases to perform computations such as UPDATE, ADD, ALTER TABLE, etc.

Hence, the use of Structured Query Language would help to add to a database and this would be done using the ALTER TABLES function as shown above.