Answer:
`- In a sole proprietorship, there is no legal distinction between the individual and the business.
`- Examples include writers and consultants, local restaurants and shops, and home-based businesses.
`- A sole proprietor may use a trade name or business name other than his or her legal name.
Answer:
1) Option A. differences in values
2) Option C. Tariffs and import quotas generally reduce economic welfare
Explanation:
1) Difference in values which can also be called value conflicts are due to variations in belief systems. I.e. when the belief systems of two groups do not allign. While Antonio believes that government programmes should be reduced because they cause more harm than good, Caroline is of the opinion that despite the inefficiency of government programmes, they are still necessary for the less fortunate. This disagreement is as a result of value conflict.
2) Both economists agree on the inefficiency of government programmes. The focal point of Caroline's argument is that government's intervention in the economy is needed for the less fortunate. Based on this premise, two economies chosen at random will most likely agree to the proposition that tariffs and import quotas generally reduce economic welfare.
The reason why it is difficult for Rivals to challenge atlas
door is probably because of the high threat of substitutes in which the rival
fears that the atlas door will replace them and send them off out of the
business when they are overpowered by the other party.
D: Debit withdrawals; credit cash.
Answer:
$265,000
Explanation:
The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.
The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.
The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.
An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.
Net cash provided by operating activities for the year
= $242,000 - $32,000 - $10,000 + $65,000
= $265,000