Answer:
b. Income from both sole proprietorship and partnerships that is taxable is treated as individual income.
Explanation:
The correct choice is b according to the following statements. Because income from both the sole proprietorship and the partnership is treated as individual income because there are no specific tax levels or separate tax rates, the income generated in these types of business should be reported in their individual income tax returns.
Therefore, all other statements given are wrong as a general partnership is completely different from the company plus partnership is not the most complicated type of business. Not all business organizations have by-laws nor limited lives for sole ownership, but the partnership has also limited lives.
Answer:
The adjustment is:
Debit Unrealized Loss Account with $4,000
Credit Trading Debt Fair Value Adjustment Account with $4,000.
Explanation:
Held for trading assets are form of investment that an entity holds for the purpose of selling them within a short term period. The changes in these investments are recognized in the statement of comprehensive income for the period and are taken to fair value adjustment account.
The accounting entries to pass for each event are listed below:
Increase in market value: Debit the asset fair value adjustment account
Credit the unrealized gain account.
Decrease in market value: Credit the asset fair value adjustment account
: Debit the unrealized loss account.
In the case of Littlefield industries, there was a loss of $4,000 ( $200,000 - $196,000). So the fair value adjustment account will be credited with $4,000 to bring the investment value down to $196,000 and a corresponding debit entry will be recognized as unrealized loss and transfer to income statement for the year.
Answer:
Skunkworks.
Explanation:
In the context of promoting organizational learning and intrapreneurship, the idea behind the role of <em>Skunkworks</em> is that, if intrapreneurs are isolated, they will become so intensely involved in a project that development time will be relatively brief and the quality of the final product will be enhanced.
A Skunkworks project typically represents an innovative project comprising of a loosely structured small group of people, usually outside the research and development departments of an organization. The Skunkworks is made up of well seasoned individuals or experts who research, quickly design or develop, and test innovative solutions for a project in order to enhance radical innovation.
As a result, isolating the intrapreneurs would enhance the rapid development and quality of the final product in a project.
Please note, Skunkworks has its origination from Martin Lockheed's World War II Skunkworks in the Advanced Development Projects (ADP).
Answer:
Implementing action recommendations.
Explanation:
Market research refers to the collection of strategies that are used to collect information and recognize a specific market for a product. Businesses use this knowledge to produce better goods, enhance customer experience, and create a brand image that will draw leads in performance and create conversion rates. As per the question, research marketing formulates the necessary actions required for its growth and the creation of an advertising campaign reflects the implementation of the action recommended.