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
NeTakaya
3 years ago
15

Khalid is a 39-year-old, married business owner who runs a dry cleaning service with three locations. His personal obligations a

re the home that he owns with his wife who works for a well-known insurance company; the health needs of his family; and his commitment toward saving for the future higher education needs of his three children. Khalid knows that two of his locations require a large infusion of cash to pay for new and expensive dry cleaning equipment. Although his wife’s job provides the family with health insurance, it also places the family in a higher income tax bracket. Khalid would certainly like to minimize his taxes. Which of the following forms of business ownership would you suggest for Khalid? Khalid should consider:
A. A sole proprietorship due to the fact that it pays its own taxes and it has limited liability.
B. A sole proprietorship due to the fact that it has unlimited liability and it will protect the family’s personal assets.
C. A corporation because he can avoid the negative aspect of limited liability. Corporations are always taxed at a lower rate than individuals.
D. A limited liability company because he will only be liable for what he has invested in the business. His personal assets will be protected, and he can be taxed like a sole proprietorship.
Business
1 answer:
madam [21]3 years ago
3 0

Answer:

D. A limited liability company because he will only be liable for what he has invested in the business. His personal assets will be protected, and he can be taxed like a sole proprietorship.

You might be interested in
if an interest inventory reveals that you are highly interested in solitary, introverted work, what might be the best type of ca
Softa [21]
In my opinion, venturing into world of Arts could be a favorable path for a person highly interested in solitary, introverted work. Visual arts such as painting and photography (nature, macro-shoots, etc) could be better choices. Literature might interest you too. The art of words would allow you to express yourself without talking to animate objects. One could pick a pen or stare at his or her computer when indulging oneself in the ARTS. 

You do not have to impress others, your masterpiece could do the talking for you.

Hope this helps. Have a nice day!
8 0
3 years ago
Diminishing marginal product suggests that the marginal A. cost of an extra worker is unchanged. B. cost of an extra worker is l
MArishka [77]

Answer:

The correct answer is letter "D": product of an extra worker is less than the previous worker's marginal product.

Explanation:

The Law of Diminishing Marginal Productivity indicates that increasing one variable while holding others the same can initially increase output but eventually adding more of that variable results in lower return rates. This law helps explain that it is not always the best way to increase income by increasing production.

<em>Initially, companies recruiting additional workers would boost production until too few machines or not enough space is sufficient to accommodate everyone. Then, the production rate will decrease.</em>

7 0
3 years ago
Cassius Corporation has provided the following contribution format income statement. Assume that the following information is wi
Romashka [77]

Answer:

9,400 units

Explanation:

The breakeven point is the number of units that must be sold for the company to make neither a loss nor a profit. A target profit is the net of the sales less the sum of the fixed and variable expenses. The contribution margin  is the difference between the sales and variable cost.

Sales per unit = $210,000/7000 = $30

Variable cost per unit = $136,500/7000 = $19.50

Let the number of units to be sold to achieve the profit target be x

30x - 19.5x - 67200 = 31500

10.5x = 98700

x = 98700/10.5

x = 9,400 units

8 0
3 years ago
If aggregate planned expenditures in the economy increase by $100 million, then real GDP will _____ $100 million.
nirvana33 [79]

Answer:

Real GDP will rise by $100 million

Explanation:

Aggregate Demand [AD] is total amount of goods & services, all sectors of an economy are planning to buy . So AD = Aggregate Planned Expenditure [APE]

Aggregate Supply [AS] is total amount of goods & services, all sellers are planning to sell. As total output value of goods & services produced is distributed among factors of production, AS = National Income [NY] = GDP

At equilibrium : AD or APE =  AS or NY or GDP

If AD or APE increases by $100 million :

AD or APE  > AS or Aggregate Planned Production or GDP . This implies willingess to buy > willingness to produce. So, inventory levels will fall below desired level. To mantain inventory level, production [AS] & income level [GDP] will rise till it becomes equal to risen AD or APE

So, GDP will also rise by $100 million

6 0
3 years ago
The journal entry to record the purchase of merchandise on account for $2,750 with freight of $125 prepaid and added to the invo
emmasim [6.3K]
<span>The journal entry to record the purchase of merchandise on account for $2,750 with freight of $125 prepaid and added to the invoice is : </span>debit Purchases $2,750, debit Freight In $125; credit Accounts Payable $2,875

5 0
3 years ago
Other questions:
  • Last year Mike bought 100 shares of Dallas Corporation common stock for $35 per share. During the year he received dividends of
    8·1 answer
  • Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with
    11·1 answer
  • The following is selected financial information for Osmond Dental Laboratories for 2021 and 2022: 2021 2022 Retained earnings, J
    7·1 answer
  • Complete the sentence using the correct term. A ____
    13·1 answer
  • ECONOMICS
    9·1 answer
  • Price discrimination is a rational strategy for a profit-maximizing monopolist when A. consumers are unable to be segmented into
    13·1 answer
  • A basic idea underlying __________________ is that a manager should be held responsible only for those items that the manager ca
    10·1 answer
  • S.I.D. Asset Management initiated an open-end and a closed-end mutual fund a few years ago. If you want to invest in the funds t
    8·1 answer
  • Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%
    8·1 answer
  • If the monthly income of the IBM employees follows a SYMMETRICAL NORMAL distribution, with a median of $5000 and a standard devi
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!