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3 years ago

Limited liability is a major advantage of a partnership as compared to a corporation. True or False

Business

1 answer:

Sergeeva-Olga [200]3 years ago

7 0

Answer:

False

Explanation:

Limited liability is a feature mostly enjoyed by shareholders of a corporation. Limited liability protects the personal properties of shareholders from interference should the corporation fail to meet its obligations.

Partners in a partnership do not enjoy limited liability. It means that if the business is unable to meet its obligation, its partners' properties can be used to sold to settle the debts. A partnership business and its owner are treated as one entity. The assets and liabilities of the business are not distinct from the owners.

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Saturn Systems Inc., which is headquartered in the United States, has its production plant located in a less-developed country w

ivann1987 [24]

Answer:

a. unethical

Explanation:

This company's behavior is unethical. In the globalized world, it is natural for transnational firms to direct their production structure to countries where labor is cheaper, as this makes their product more competitive in the international market. However, these firms must not take advantage of regulatory failures in the labor market in these countries to increase their profit. Every firm must be concerned and ensure that the physical integrity and health of employees who work on its plants is preserved, regardless of location. Thus, in order to act ethically, this firm should implement process improvements to minimize the exposure of employees to chemical agents and to inhibit the exploitation of the labor that occurs when employees work in excess and without being paid for overtime.

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3 years ago

What is the name of the most powerful can opener?

kirill115 [55]

OXO Good Grips Locking Can Opener with Lid Catch!

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3 years ago

Read 2 more answers

ERIC: Hi, Hubert. This is my first economics course, and many of the concepts discussed in class are really confusing. Today the

Ymorist [56]

Answer:

ERIC: Hi, Hubert. This is my first economics course, and many of the concepts discussed in class are really confusing. Today the professor explained that the true cost of going to college includes both the tuition I pay as well as something called the "opportunity cost" of going to college. I don't understand. I pay $32,000 per year in tuition. The tuition is what I pay to the school, so it seems like that should be my true cost!

HUBERT: Hi, Eric. Many concepts in economics can be confusing at first. Let's talk it through.

Economists think of costs a bit differently than just the dollar amount that you pay. To an economist, the true cost of college includes the total value of what you give up in order to acquire your college education. In other words, not only did you give up the tuition money that you paid, but by attending college, you gave up opportunities to do other things with your time as well. This is where the idea of opportunity cost comes from.

The opportunity cost of your decision to go to college is the value of the next best alternative that you gave up. Suppose that your next best alternative to college is to work as a cashier. By not going to college, and taking this job, you could earn $16,000 per year. Then your opportunity cost of college is $16,000, and your total cost of a year of college is $48,000 per year.

ERIC: I think I get it now. So when I take into account the opportunity cost of college, the true cost is actually more than just the tuition.

HUBERT: Correct. Thinking about costs in this way will help you make more rational decisions in your everyday life. Now tell me, how can you explain your decision to go to college?

ERIC: I chose to go to college because, for me, the value of a year in college gives me a higher stand and offers me a better long-term opportunity that someone without a college degree.

Explanation:

The question poses a discussion about the opportunity cost of attending college. The understanding behind this is that by choosing to go to college, Eric is forfeiting the opportunity to get a job as a cashier that would earn him $16,000 a year while incurring his college fees of $32,000. Therefore, the total cost of attending college to him should be $48,000.

3 0

3 years ago

FedEx is the world's leading express-distribution company. In addition to the world's largest fleet of all cargo aircraft, the c

andriy [413]

Answer:

Journal entries

Explanation:

Before passing the journal entries, first we have to determine the book value of truck which is

= Cost of delivery truck - accumulated depreciation

= $56,000 - $41,300

= $14,700

Now the journal entries are as follows

a. Cash Dr $14,700

Accumulate depreciation $41,300

To Delivery truck $56,000

(Being the disposal of the truck is recorded)

b) Cash Dr $16,400

Accumulate depreciation $41,300

To Delivery truck $56,000

To Gain on sale $1,700

(Being the disposal of the truck is recorded)

c) Cash Dr $12,900

Accumulate depreciation $41,300

Loss on sale $1,800

To Delivery truck $56,000

(Being the disposal of the truck is recorded)

4 0

3 years ago

Use below information to prepare general journal entries for Belle Co.'s 1 through 7 transactions.

antoniya [11.8K]

Answer:

Belle Co.

General Journal Entries

1. Debit Cash $6,000

Debit Equipment $7,600

Debit Web Servers $12,000

Credit Common Stock $25,600

To record the assets exchanged for common stock by D. Belle.

2. Debit Prepaid Insurance $4,800

Credit Cash $4,800

To record the prepayment of insurance coverage.

3. Debit Supplies $900

Credit Accounts Payable $900

To record the purchase of supplies on account.

4. Debit Selling Expenses $800

Credit Cash $800

To record the payment of selling expenses for cash.

5. Debit Cash $4,500

Credit Service Revenue $4,500

To record the receipt of cash for services rendered.

6. Debit Accounts Payable $900

Credit Cash $900

To record the payment on account.

7. Debit Equipment $3,400

Credit Cash $3,400

To record the payment for the purchase of equipment.

Explanation:

a) Data and Transaction Analysis:

1. Cash $6,000 Equipment $7,600 Web Servers $12,000 Common Stock $25,600

2. Prepaid Insurance $4,800 Cash $4,800

3. Supplies $900 Accounts Payable $900

4. Selling Expenses $800 Cash $800

5. Cash $4,500 Service Revenue $4,500

6. Accounts Payable $900 Cash $900

7. Equipment $3,400 Cash $3,400

4 0

3 years ago