1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kiruha [24]
3 years ago
8

Relaxant Inc. operates as a partnership. Now the partners have decided to convert the business into a corporation. Which of the

following statements is CORRECT?
a.Relaxant’s shareholders (the ex-partners) will now be exposed to less liability.
b.The company will probably be subject to fewer regulations and required disclosures.
c.Assuming the firm is profitable, none of its income will be subject to federal income taxes.
Business
1 answer:
Sliva [168]3 years ago
4 0

Answer:

a.Relaxant’s shareholders (the ex-partners) will now be exposed to less liability.

Explanation:

Legally, a corporation is a distinct entity separate from its owners. It has commercial rights to transact businesses, enter into contracts, and own properties. A corporation is a legal person and is subject to taxation; it can sue or be sued.

One distinctive aspect of a corporation is that its owners have limited liability to the debts of the business. If the company is unable to meet its obligations, the personal properties of owners cannot be attached to the debts. The owners of Relaxant Inc. will be exposed to less liability when they are shareholders as compared to when they were partners.  The liability of an individual shareholder is limited to the amount of their capital contribution

You might be interested in
If the Fed was worried about overheating (GDP growing too fast, inflationary pressures building), then the appropriate open mark
oksano4ka [1.4K]

Answer:

The answer is false

Explanation:

Open market operations is a situation in which the Federal purchases and sells U.S. Treasury securities on the open market in order to regulate the supply of money in the economy.

If the Fed purchases securities in the open market, this increases the money supply in the economy. This is done when the economy is having low activities i.e economic hardship. Interest rate will be and if the Fed sells securities in the open market, it reduces the supply of money in the economy. This is done when the economy is overheating.

8 0
4 years ago
On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $40,000 in cash and giving a short-term n
Norma-Jean [14]

Answer:

See below

Explanation:

The cost of land to be included in the balance sheet would not only include the price paid to acquire the land but also include cost or revenue received in the process while also include all activities required to bring the land to the stage in which it may be ready for usage.

With regards to the foregoing, the cost of land to be included in the balance is is

= Cash paid + short term note + legal fee + delinquent taxes + Fees paid to remove old building from the land - sales of materials salvaged from demolition of the building

= $40,000 + $306,000 + $1,665 + $13,100 + $22,500 - $5,200

= $378,065

Therefore, cost of land to be included in the balance sheet is $378,065

3 0
3 years ago
Maria has started a lawn care service about a year ago. She did
Yuliya22 [10]
I believe it’s growth
6 0
3 years ago
Read 2 more answers
Four Seasons Hotels sell private residences in several of their properties and send direct mail to prospective residents asking
vazorg [7]

Answer:

lead generation

Explanation:

Based on the information that is describing the situation at hand it seems that In terms of direct marketing, this is known as lead generation. This term refers to the activities or tasks that a company undergoes in order to attract potential customers towards their products or services. Which is what Four Seasons Hotels are doing by sending direct mail to their potential customers in order to attract them towards their hotels.

4 0
3 years ago
Ill give Brainliest to the one that awnsers
melomori [17]

Answer:

As with any legal process, bankruptcy is a complex issue with both positive and negative consequences. Anyone considering filing for bankruptcy should consider all the possible outcomes before taking this step. Whether one is considering a Chapter 7 straight bankruptcy or a Chapter 13 repayment plan case, consulting with a qualified consumer bankruptcy attorney is paramount to ensuring that the process runs smoothly and advantageously.

5 0
3 years ago
Other questions:
  • Most messages are communicated through 55% _______.
    11·1 answer
  • Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies m
    13·1 answer
  • Culver owns 80 percent of the common stock of Fowler Company. Culver also purchases some of Fowler's bonds directly from Fowler
    9·1 answer
  • Using mathematical models and computer models to understand a chemical principle is an example of
    11·1 answer
  • Top managers of Marshall Industries predicted 2018 sales of 14,800 units of its product at a unit price of $9.50. Actual sales f
    12·1 answer
  • 0.83 points eBookPrintReferences Check my work Check My Work button is now enabledItem 2Item 2 0.83 points A company has a fisca
    6·1 answer
  • Before considering a net operating loss carryforward of $81 million, Fama Corporation reported $200 million of pretax accounting
    8·1 answer
  • Sheridan Company has $3080000 of short-term debt it expects to retire with proceeds from the sale of 87000 shares of common stoc
    10·1 answer
  • Which one of the following statements is correct?
    9·1 answer
  • Ivanhoe Company reports the following operating results for the month of August: sales $392,000 (units 4,900), variable costs $2
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!