Answer:
The answer is: Owner is personally liable for all debts of the business.
Explanation:
Sole proprietorship is the oldest type of business, where a single person is the owner of a business.
Some of the advantages of sole proprietorship are:
- the simplest and most flexible business structure.
- owner has complete control and full decision making powers
- easy to close down the business
- profits are taxed at the owner´s tax rate
Some of the disadvantages of sole proprietorship are
:
-
owner is personally liable for all debts of the business
.- if the business goes bankrupt, usually the owner does also
- death or illness of the owner will lead to the end of the business.
- difficulties in raising capital from outside sources
Answer:
A
Explanation:
The reason is that it just makes the most sense. Therefor your answer is A) According to the objective theory of contracts, the intent to enter into an express or implied-in-fact contract is judged by the reasonable people standard
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25% of 100 is $25 hopefully thats what you were asking for
Answer: $700,000
Explanation: Retained earnings is the amount of earnings left with the company after paying for dividends of common stockholders.
Retained earnings break even can be computed as follows :-

where,
retained earnings = net income (1- payout ratio)
= $525,000 (1 - 60%)
= $210,000
therefore,

=$700,000