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Marina86 [1]
3 years ago
6

You and nine of your wealthy friends decide to purchase a local minor league baseball team. The purchase price is $15 million, 6

0 percent of which you contribute to the business as capital. Your nine friends will contribute the remaining $6 million. All 10 of you agree that you will be the sole general manager of the business, making all business and baseball decisions, except as you delegate them to employees of the business, such as a team manager or vice president of baseball operations. Due to the way you will account for the purchase of the team and player salaries, you expect the business not to make a profit until year 4. You expect that all 10 of you will remain owners of the business for at least 10 years, at which time you expect to sell the team at a profit. Which business form do you believe is best for this business
Business
1 answer:
worty [1.4K]3 years ago
4 0

Answer:

Limited liability company

Explanation:

A limited liability company is a company where the liabilities of partners is limited to the amount invested in the company. A limited liability company has features of both a partnership and a sole proprietorship

The partnership is made up of a general partner and the limited partners. the general partner is involved in the daily running of the business. The limited partners are not involved in the daily running of the business. They just contribute capital.

In this question, the person involved in the running of the business is the general partner while the other 9 friends are the limited partners.

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During the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000. During the year, accounts rece
guajiro [1.7K]

Answer:

(a1) $761,000

(a2) $504,000

(a3) $793,000

Explanation:

(a-1) Amount of net sales reported as revenue in the income statement:

= Cash sales + Credit sales

= $289,000 + $472,000

= $761,000

(a-2) Amount of cash received from collecting accounts receivable:

= Credit sales + Decrease in accounts receivable

= $472,000 + $32,000

= $504,000

(a-3) Amount of cash received from customers:

= Cash sales + Amount of cash received from collecting accounts receivable

= $289,000 +  $504,000

= $793,000

6 0
2 years ago
The consumer sector is the largest part of the macroeconomy. Please select the best answer from the choices provided T F
cricket20 [7]
The answer is true bc businesses depend on consumers buying their product
5 0
3 years ago
Motorola and apple are two large competitors in the cellular phone market. it is a violation of the __________ if sanjay jha ser
AURORKA [14]

Answer:

Competition act.

Explanation:

When same person on the board of two or more than two competing firms then such instance is referred to as interlocking directorate. This will significantly have an impact on the market and the competition.

8 0
2 years ago
A company is considering an iron ore extraction project that requires an initial investment of and will yield annual cash inflow
Murrr4er [49]

Answer: D. 15%

Explanation:

The IRR is the discount rate that will make the Net Present Value to be 0.

In other words, the IRR is the discount rate that will make the cash inflow from the investment to be equal to the investment amount.

As the cashflow is constant, it is an annuity and so can be calculated by the Present Value Interest Factor.

Investment cost = $1,100,000

Using the options given;

Discount rate - 14%

Present Value of Cash inflow = 676,507 * Present Value of Annuity factor, 14%, 2 years

= 676,507 * 1.647

= $1,114,207.029‬

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Discount rate - 15%

Present Value of Cash inflow = 676,507 * Present Value of Annuity factor, 15%, 2 years

= 676,507 * 1.626

= $1,100,000.382‬

= $1,100,000‬

IRR is 15% as Present value of Cash inflow is equal to Investment cost at a discount rate of 15%.

8 0
3 years ago
Which of the following is a benefit of planning? a.It helps managers understand the relationships among employees. b.It helps ma
DIA [1.3K]

Answer: Option C

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It is focused on allocating the resources to different departments and sections as per the needs, so that the objectives of the organisation could be achieved.

Thus, from the above we can conclude that the correct option is C.

5 0
3 years ago
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