Answer:
E. They are simpler when it comes to paperwork, offer some of the same tax advantages and also protect members from unlimited financial exposure
Explanation:
Limited liability companies are set up to protect the owners from liability. The business is a seperate entity from the individual owners and their assets are not used to settle debts of the business.
This type of business is gaining more use than S corporation. S corporation in addition to having liability advantages also requires more rigid requirements to set up. They do not pay corporate tax, but rather are taxed as sole proprietorship or a partnership.
Because of the ease of setting up an LLC more people prefer it to an S corporation. It also protects owners from unlimited financial liability
To increase Federal Funds rate, they can B: decrease the discount rate. I'm sorry if I'm wrong. I'm also sorry it took so long I was distracted watching the Hannah Montana marathon on Disney Channel :) I'm such a child. Well, i am 12 and Hannah Montana was my entire childhood (age 1-7 and is always a part of me)
Answer:
A. Use the general ledger to prepare financial statements outside the system
Explanation:
The general ledger carries account information that is needed to develop the company's financial statements, and transaction data is partitioned by type into accounts for assets, liabilities, owners' equity, revenues, and expenses.
Answer: €100,000
Explanation:
- Cash received is an asset
- The money borrowed is also cash so assets increase
- Equipment was exchanged for cash. Both of them are assets so there is NO EFFECT on assets here.
- Inventory purchased on account will increase assets because assets were acquired with liabilities in this instance.
- Prepayments are assets but because this was paid with cash, there is NO EFFECT on assets as they cancel each other out.
Total assets at the end of the week are:
= Cash + Cash borrowed + Inventory purchased on account
= 50,000 + 30,000 + 20,000
= €100,000
