All categories

4 years ago

Which of the following statements is CORRECT?

Business

1 answer:

musickatia [10]4 years ago

6 0

Answer:

C) One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability.

Explanation:

There is no avoidance to double taxation under corporate form, as company's pays tax on net income earned, and then if there is any distribution of income to shareholders, the shareholders are charged individually.

There is no such ease in transfer of share whether in corporate form or partnership form.

There is an indefinite liability in case of insolvency of sole proprietorship on the sole proprietor, as he is the only person in ownership of such shares.

No, voting rights in a corporate form are dependent on number of shares held.

Therefore, the correct statement is:

C) One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability.

You might be interested in

Shelby Boat Wash's cost formula for its cleaning equipment and supplies is $2,940 per month plus $35 per boat. For the month of

Vilka [71]

Answer:

$1,540

Explanation:

Calculation for the activity variance for cleaning equipment and supplies in September

First step is to calculate for theFlexible budget

Using this formula

Flexible budget =[Cleaning equipment and supplies +(Amount per boat ×Actual level of activity)

Let plug in the formula

Flexible budget =[$2,940 + ($35 × 29)]

Flexible budget =$2,940+$1,105

Flexible budget =$3,955

Second step is to calculate for the Planning budget using this is formula

Planning budget =[Cleaning equipment and supplies +(Amount per boat ×Planned activity ]

Let plug in the formula

Planning budget= [$2,940 + ($35 × 73)]

Planning budget=$2,940+$2,555

Planning budget=$5,495

Now let calculate for the activity variance

Using this formula

Activity variance=Flexible budget-Planning budget

Let plug in the formula

Activity variance=$3,955-$5,495

Activity variance=$1,540 Favorable

Therefore the Activity variance for cleaning equipment and supplies in September is closest to:$1,540 Favourable reason been that the flexible budget is lesser than the planning budget

5 0

4 years ago

A town's garbage trucks accidentally sideswiped two parked automobiles in the fiscal year ended December 31, 2019. One case was

asambeis [7]

Answer:

The answer is "$13,000".

Explanation:

In the given question, From December 31, 2019, the sum should also be $13,000 as just a liability for both the general fund. Its first village owner is $3000 as well as the second villager is $10,000, because their contingent liability is registered to a fair degree, that's why its correct answer is "$13,000".

7 0

4 years ago

is planning to sell 900 boxes of ceramic tile, with production estimated at 870 boxes during May. Each box of tile requires 44 p

Ray Of Light [21]

Answer:

$38,880

Explanation:

The calculation of direct material to be purchased is shown below:-

Direct materials to be purchased = (Budgeted Production × Number of raw material per unit) + Ending inventory - Beginning inventory

Direct materials to be purchased = (870 × 44) + 4,500 - 3,900

= $38,280 + 4,500 - 3,900

= $38,880

So, for calculating the direct material to be purchased we simply applied the above formula.

3 0

3 years ago

15 points please help

arsen [322]

Answer:nenhuma das questões a cima

Explanation:

8 0

2 years ago

Scott and his partner, Greg, have decided to update their computer network, although they have no expertise in this area. During

larisa86 [58]

Answer:

d. rational decision making.

Explanation:

Rational decision makers do not expect any boundaries and constraints as they assume the decision should be taken after having all the facts known, as these relate to taking a decision in good faith.

This is basically choosing the best with all the information and understanding.

As here Scott and his partner do not have complete knowledge and understanding of the complexity and technology.

Thus, it hinder there exercise towards making a rational decision.

6 0

3 years ago