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jeka57 [31]
3 years ago
9

Determine whether each characteristic describes a general partnership (GP), limited liability company (LLC), both, or neither.A.

Must pay a business (corporate) income tax.B. When the business cannot pay its debts, creditors can take the owners' personal assets. C. All owners can have management duties. D. The owners are often referred to as members. E. Ownership is split among two types of owners: general and limited partners. F. Owners have limited liability.
Business
1 answer:
Darina [25.2K]3 years ago
6 0

Answer and Explanation:

The categorization is shown below:

a. Neither should be selected as partnership and LLC are through entities and for the income tax is calculated on personal income tax

b. General partnership as it contains the unlimited liabilities

c. LLC as it contains the equal status in this type of business organization.

d,. LLC as it is standardized according to the organization articles

e. Neither should be selected as general and limited should be come under the limited partnership

f. LLC should be selected as in this, owners have the limited liability

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The correct answer is the Public Company Accounting Oversity Board.

The Sarbanes-Oxley Act was enacted in 2002. It’s purpose was to protect investors and add additional oversight for corporations after a number of companies were caught up in accounting scandals and investors lost billions of dollars.

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Why is it important for companies to invest in building a complete Data and Analytics Platform?
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It is essential for companies to invest in building a complete data and analytics platform to generate insights by housing data in one place and converting it into easily consumable information at high speed.

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5 0
3 years ago
1.Danner Company expects to have a cash balance of $45,000 on January 1, 2017. Relevant monthly budget data for the first 2 mont
Nat2105 [25]

Answer:

\left[\begin{array}{ccc}&January&February\\$beginning&45000&27500\\$receipts&97000&150000\\$disbursement&-114500&-163500\\$interest&0&0\\$subtotal&27500&14000\\$minimun&20000&20000\\$Financing&&\\$beginning&0&0\\$payment/loan&0&6000\\$ending&0&6000\\&&\\$ending cash&27500&20000\\\end{array}\right]

Explanation:

On January we collect the 85,000 from revenues and the 12,00 form marketable securities.

Then, we add up each disbursement:

Materials 50000

Labor       30000

Overhead (net of depreciation) 19,500

Selling and administrative 15000

Total 114,500

Then we solve for the cash balance and get the blaance as it is higher than 20,000 we do not need financing

Then, this value is the beginning cash for February. As the ending balance is 14,000 we will take 6,000 financing to reach the bare minimum of 20,000

3 0
4 years ago
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently
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AFC mean average fixed costs. This is equal to total fixed costs divided by the amount of output. If the output is equal to 1000, then the AFC is

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I hope I was able to answer your question. Thank you and have a good day.
6 0
3 years ago
Fragment Company is a wholesaler that sells merchandise in large quantities. Its catalog indicates a list price of $300 per unit
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Answer:

Recognized Sales Value = $18,000

Explanation:

Fragment company selling Price is $300/Unit

40% trade discount is offered for purchases of 50 units and more. That is, $300 x 40% = $120.

This implies anyone buying 50 or more will pay only $180/Unit ($300 - $120)

Customer Purchased 100 units

Sales terms is FOB, which implies Fragment is responsible for transportation costs of the products from his warehouse to the Port of Shipment including loading onto the ship. The Buyer will be responsible for Marine Freight expense, Insurance, Off-loading and shipment to his own warehouse

The $7 Per Unit indicated will account for inland transport to Port of shipment

Recognized Sales  =  100 units x $180 = $18,000

Cost of Haulage (Carriage outwards) is $7 x 100 units = $700

4 0
3 years ago
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