All categories

3 years ago

Which one of the following is an advantage of a sole proprietorship?

Business

1 answer:

My name is Ann [436]3 years ago

6 0

Answer:

a. Ease of formation

Explanation:

A sole proprietorship is A form of business owner by one person. The sole proprietor has unlimited liabilities and has unlimited operational control.

Unlimited liability is a disadvantage of a sole proprietorship .

I hope my answer helps you

You might be interested in

Depreciation on the company's equipment for the year is computed to be $18,000. The prepaid insurance account had a $6,000 debit

scZoUnD [109]

Depreciation Expense............................$18000

To Accumulated Depreciation............................$18000

(Being depreciation expense accounted)

Insurance Expense................................$4900

To Prepaid Insurance...........................................$4900

(Being Insurance Expensed)

Supplies Expense..............................$3880

To Supplies.......................................................$3880

(Being Supplies Consumed Expensed)

Unearned Service Revenue.......................$10000

To Service Revenue..................................................$10000

(Being Unearned Service Revenue Recognised)

Rent Expense...............................$5800

To Prepaid Rent......................................$5800

(Being rent expired Expensed off)

Wages Expense..............................$3200

To Wages Payable....................................$3200

(Being Wages payable expensed).

3 0

3 years ago

On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred: Factory Manager Salary $7,000 Facto

qaws [65]

Answer:

Explanation:

check the file attached for full explanation

Download docx

7 0

3 years ago

Harry has just inherited $300,000. Harry has decided to quit his job and go to school full time for the next five years by livin

never [62]

Answer:

$ 75131

Explanation:

Given:

Amount inherited = $ 300000

Present amount of annuity = $ 300000

Interest rate, i = 8% = 0.08

number of years, n = 5

Now,

the formula for the present amount of annuity is given as:

Present amount of annuity = $P[\frac{1-(1+i)^{-n}}{i}]$

where,

P is the periodic payment

n is the number of years

now, on substituting the values, we get

$ 300000 = $P[\frac{1-(1+0.08)^{-5}}{0.08}]$

$ 300000 = P × 3.993

P = $ 75131.48 ≈ $ 75131

hence, the amount he can withdraw is $ 75131

3 0

3 years ago

Which type of tax is paid by businesses on their profits to federal or state governments?

Anna11 [10]

Answer:

Corporate income tax

Explanation:

A corporate income tax (CIT) is levied by federal and state governments on business profits, which are revenues (what a business makes in sales) minus costs (the cost of doing business).

5 0

2 years ago

Dividends are part of the return you receive on your investment when you buy stock.

Shalnov [3]

That sounds about right for accounting anyway

4 0

2 years ago

Read 2 more answers