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Novay_Z [31]
3 years ago
15

Mack is an oil executive. He wants to start a new company with different partners to explore some drilling opportunities. His at

torney advises him about the various business forms. When discussing the LLC form, his attorney mentions that one of the biggest disadvantages of the LLC form is that
a. it is taxed like a partnership, unless the members choose differently
b. its members have limited liability for LLC debts
c. there is no uniform law governing LLCs in the United States
d. LLC members pay no taxes
Business
1 answer:
umka21 [38]3 years ago
4 0

Answer:

The correct answer is option c.

Explanation:

A limited liability company is a business entity where the owners are not personally liable for the company's debts liabilities. It combines features of a sole proprietorship, partnership, and a corporation.  

The advantage of a limited liability company is that it provides limited liability to its owners. The disadvantage is that there is no uniform law in the US regarding LLCs, the regulations vary from state to state.

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upton industries has revenues of $42,629, interest expense of $1,230, depreciation of $2,609, cost of goods sold of $23,704, div
igor_vitrenko [27]

Option a) $5075.88 is the addition to the retained earnings

Current profits less any dividends or other payouts to shareholders are a company's retained earnings. Every time an accounting entry is made that has an effect on a revenue or expense account, this sum is modified. A sizable retained profits balance suggests that the corporation is in a secure financial position.

Computing after-tax profit:

(Revenues - Interest cost - Depreciation - Cost of goods sold - Administrative costs) x ( 1 - tax)

= ($42629 - $1,230 - $2,609 - $23,704 - $7,040) x ( 1 - 22%)

= $6,275.88

Retained earnings addition:

= After-tax net profit - Dividends paid

= 6,275.88 - 1,200

= $5,075.88

Hence, option a) is the correct answer

Learn more about retained earnings:

brainly.com/question/14529006

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3 0
1 year ago
Which of the following is a type of tort?
Scrat [10]

Answer:

b

Explanation:

6 0
3 years ago
Read 2 more answers
1. A department is looking for an entry-level cashier. One of the job applicants is a cashier with 30 years of experience as a c
nevsk [136]

The candidate with 6 months of experience shall be hired by the department for the position as an entry-level cashier.

<h3>Who is cashier?</h3>

A cashier is a professional who has expertise in managing the cash inflows and outflows of an organization and deal with the cash transactions of an organization on a daily basis.

A cashier who has 6 months of experience be more suitable for such role in the department, and will also take lesser pay than the one with 30 years of experience.

Hence, it may be concluded that the cashier with less experience will be a suitable one to be hired at the position as such.

Learn more about cashier here:

brainly.com/question/27622487

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4 0
3 years ago
The National Council of Small Businesses is interested in the proportion of small businesses that declared Chapter 11 bankruptcy
Arlecino [84]

Answer:

n = 150.06

Explanation:

Since the confidence c = 95% = 0.95

α = 1 - 0.95 = 0.05

\frac{\alpha }{2} = \frac{0.05}{2}=0.025

z score of 0.025 is the same as the z score of 0.5 - 0.025 = 0.475

From the probability table, z_{0.025}=z_{0.475}=1.96

Also E = 0.08

Therefore the sample size n is  given by:

n = \frac{1}{4}(\frac{z_{0.025}}{E} ) ^2=\frac{1}{4} *(\frac{1.96}{0.08})^2 =150.06

n = 150.06

The sample must be at least 150.06  to be 95% sure that a point estimate will be within a distance of 0.08 from p

3 0
3 years ago
The most important elements in a business model include all of the following except: A. Selecting a growth strategy B. Verifying
worty [1.4K]

Answer:

Option A    

Explanation:

In simple words, business model refers to the strategy for creating a profit for a product. This defines the goods or services that the company is trying to offer, the intended audience that it has defined as well as the costs it plans.

A creative technology company must include a business plan, if only to draw funding, help it retain talent, and inspire leaders and managers. Established companies frequently have to review and revise their operating strategies, or struggle to predict emerging developments and obstacles. Investors will study and analyse the corporate strategies of all businesses that are involved in them.

Choosing a development procedure for growth is not really a part of a business framework, but a point of performance of the growth model. Other choices specifically address which kind of goods should be selected in a company with which specific market group and how you'd like to benefit from your package's particular quality.

4 0
4 years ago
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