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
Klio2033 [76]
3 years ago
7

Ethan started a website. After a few months, a publishing company filed a lawsuit against his company for copyright infringement

. Ethan had to close the cuisness and sell all of the business's assests and his car in order to settle the lawsuit.
This is an example of which of the following:

a. A partnership
b. A proprietorship
c. An LLP/LLC
d. A corporation
Business
1 answer:
Marianna [84]3 years ago
4 0

Answer:

The correct answer is letter "B": A proprietorship.

Explanation:

Sole proprietorships are businesses with a single owner who is responsible for all the operations. The advantage of this type of business is that they are not strictly regulated by the government and are easy to form but the owner has full liability which implies if the business falls into debt, the personal assets of the owner can be considered to repay that debt.

You might be interested in
Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journ
Ber [7]

Answer and Explanation:

The Journal entry is shown below:-

1. Sales Revenue Dr, $42,030

   Rent Revenue $300

        To Salaries and Wages Expense $21,600

        To Depreciation Expense $1,300

       To Utilities Expense $4,220

       To Insurance Expense $1,400

        To Rent Expense $6,000

       To Income Tax Expense $2,900

       To Retained Earnings $4,910

(Being closing of revenues and expenses is recorded)

2. Retained Earnings Dr, $300

         To Dividends $300

(Being closing of dividend is recorded)

4 0
3 years ago
Armando, a manager for Petros Pizza Pies (PPP), dies in an accident on July 12. PPP pays his wife, Penelope, $600 in salary that
stepan [7]

Answer:

Explanation:

Ms. P receives $6,000 from Company P due to her husband A's loyal service and She receives $600 that her husband earned prior to his death. Hence, Ms P earns a total of $6,600 ($6000 + $600) gross income.

The amount of $90,000 receive from the life insurance proceeds are excluded from the gross income.

Ms P's daughter receives $4,000 from company P. It should be included in her daughter income.

8 0
3 years ago
Question 2 (multiple choice)
Paha777 [63]
A. $625.71
619+619×0.13/12
4 0
3 years ago
Salim files a case agaisnt nina for nonpayments of dues.before the trial. nina is examined under oath in the presense of salim's
aleksley [76]

Answer:

A) deposition

Explanation:

A witness or a party's deposition takes place before the actual trial starts, during discovery (or the investigation stage). During the deposition, the party or witness must answer the questions of the other party's attorney. Those questions are answered under oath, which means that lying is considered perjury and the party or the witness can be prosecuted for it.

3 0
3 years ago
Which of the following will typically offer the highest interest rate
max2010maxim [7]

Answer:

savings bond

Explanation:

5 0
3 years ago
Read 2 more answers
Other questions:
  • In a flexible budget, when the activity declines, the total variable cost also declines.
    10·1 answer
  • Fresnas Inc. is a furniture manufacturing company. It has taken the initiative of incorporating social responsibility as one of
    15·1 answer
  • involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance. a. Con
    15·1 answer
  • Lori contracts to buy coffee beans for her store from Mike. The contract price is $7.50 per pound of Costa Rican coffee. Mike br
    15·1 answer
  • I am 16 1/2, I live in southern California and want to get a job in the summer is there any way to go about that?
    12·2 answers
  • When a factory closes, why is it bad news for the local restaurants? a. Unemployed factory workers have lower incomes and are le
    6·1 answer
  • A company has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts.
    8·1 answer
  • A corporation purchases 20 000 shares of its own $20 par common stock for $35 per share, recording it at cost. What will be the
    10·1 answer
  • For you why entrepreneurship is important? ​
    13·1 answer
  • Bailey Furniture Company has prepared the following flexible budget for April and is in the process of interpreting the variance
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!