Answer: Check explanation
Explanation:
a. Since Amy bought the equipment for $3700 and sold the equipment for $690, the amount that Amy can deduct for the loss of the equipment will be:
= $3700 - $690
= $3010
b. Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $1370.
Therefore, $1370 will be deducted.
c. After the accident, Army could not replace the equipment so she had the equipment repaired for $4,300. What amount can Army deduct for the loss of the equipment?
Here, the amount that Army can deduct for the loss of equipment will be the lesser of the amount Amy bought the equipment which is $3700 or the cost of the repair which is $4300.
Therefore, $4300 will be deducted.
Answer:
B. There was an improper cutoff of sales at the end of the year.
Explanation:
Sales cuttoff focuses on whether sales are properly reccorded for a particular period.
I would say it would be True, as consumers may get overwhelmed with to many choices
Due to limited liability, unlimited lives, and ease of ownership transfer, the majority of U.S. businesses (in terms of number of businesses) are organized as corporations----False
Explanation:
As in large corporations there is a limited liability up to the amount of shares held by any person. The liabilities are limited and not unlimited.
Also, there is an ease in transfer of ownership as through sale in open market which generally is easily feasible and there are no such difficult processes of following these regulations of transferring ownership.
Also in corporations huge number of people can be involved, as there is no maximum limit of number of owners in corporations.
What type of business has two or more owners and unlimited personal liability?
A general partnership is a business owned jointly by two or more people. Advantages include: more resources and talents come with an increase in partners, and the business can continue even after the death of a partner. Disadvantages include: partnership disputes, unlimited liability, and shared profits.
Learn more about liability of business:
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I would think either bank or credit union but more leaning towards credit union
