A firm owned by a single person who has unlimited liability for the firm's debt is called a: sole proprietorship
What is a sole proprietorship?
A sole proprietorship is a one man business where the owners the entire the business, contributes all finances as well as unlimited liability for the debts of the business.
This means that when the assets of the business are not enough to settle its debts, the owners would pay the excess debts from their private account or using their personal assets to settle firm's debts
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Business analyst phase of the new product development process
Answer:
price
Explanation:
Based on the scenario being described within the question it can be said that these things are all examples of price. In any context of business or transaction in general the term price refers to the total amount that is requested or given as a payment for something else, whether it is a good or service. In other words it is the value given for something in a transaction.
Answer: The answer is given below
Explanation:
The purchases journal is an accounting book which takes record of all the acquisitions that are made on credit a a particular period of time. It is a record which keeps track of the vendors that a company is owing using accounts payable or vendor credit and also the current balance that the company owed each vendor.
The transactions above has been recorded in the purchases journal. Kindly check the attached document for further information.
Answer:
D. Person C
Explanation:
Taxable income is the difference between the gross pay and all authorized deduction.
For person A : taxable income = $50,000 - $5000 = $45,000
For Person B: taxable income =$60,000 - $10,000 = $50,000
For Person C: taxable income= $90,000 - $30,000 = $60,000
For Person D: taxable income=$ 100,000 - $60,00= $40,000
Person C has the highest taxable income with $60,000