Limited Liability Company (LLC): This is a 'mix' between a corporation and a sole proprietorship. Most businesses that have an LLC are partnerships but sole owners can have this as well. There are tax break advantages with an LLC that are more comparable to a sole proprietorship.
Sole Proprietorship: The most common type of business practice, one sole owner.
Statutory Close Corporation: Stockholders are actively involved in managing the business.
General Partnership: Two or more people agree to share assets, profits and all legal matters within a business.
Based on the differences between these types of business practices Amanda most likely has a Sole Proprietorship.
Answer:
$60 per unit
Explanation:
The computation of the contribution margin per unit is shown below:
Contribution margin per unit = Selling price per unit - Variable expense per unit
= $240 per unit - $180 per unit
= $60 per unit
It shows a difference between selling price per unit and the variable cost per unit
All other information which is given is not relevant. Hence, ignored it
It would be less than the policy face value. If the age of the covered was misstated when the policy was commenced, then the face value of the policy will be in sync to the amount that the funded premiums would have subscribed if the true age was given.
Answer: a. FIFO to LIFO, but not LIFO to FIFO
Explanation:
Well the inventory changes which would likely be accounted for is the FIFO ( first in first out system ) to LIFO ( last in first out system ). But not the LIFO ( last in first out ) to FIFO ( first in first out ). This system are mostly used in sales where for FIFO the first goods to arrive leaves first and for LIFO the opposite of FIFO
