1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
RideAnS [48]
3 years ago
9

StartUp Investors, LLC, is a limited liability company without a written operating agreement. Among the members, a dispute arise

s concerning the division of profits. Under most LLC statutes, the profits will be:___________a. distributed according to the members' proportionate shares of ownership in the firm.b. divided equally among the members.c. forfeited to the state.d. reinvested in the business until the dispute is resolved.
Business
1 answer:
ololo11 [35]3 years ago
7 0

Answer:

The answer is a:

distributed according to the members' proportionate shares of ownership in the firm.

Explanation:

A limited liability company (LLC) is a corporate structure, whereby the owners are not personally liable for the company's debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.

LLCs are governed by the rules of the state in which they were formed. State rules provide for the allocation of LLC profit according to each member's percentage of ownership interest.

In this scenario, the written operating agreement does not exist. If a profit allocation arrangement is not outlined in the operating agreement, or the operating agreement is not formed, then the state's default profit allocation rules will apply, requiring profits to be distributed according to their percentage of ownership.

You might be interested in
How is a savings account most useful
valentinak56 [21]

For using $money$ in the near future but not right away.

5 0
3 years ago
Read 2 more answers
Discuss ten (10) different purposes of an evaluation of salesperson performance and how each purpose affects the performance eva
ololo11 [35]

Answer:

1. To ensure that compensation and other reward disbursements are consistent with actual performance

2. To identify salespersons who needs to be promoted

3. To identify salespersons who should be fired/terminated

4. To determine the specific training and counseling needs of individual

5. To provide information for effective human resource (Succession) planning

6. To identify criteria that can be used to recruit and select salespersons in the future

7. To advise salespersons of work expectations

8. To motivate salespersons

9. To help salespersons set their career goals

10. To enhance effective communications between salesperson and sales manager

Explanation:

How each purpose affects the performance evaluation process

1. To ensure that compensation and other reward disbursements are consistent with actual performance

Compensation and rewards affects the performance and it should be on the merit.

2. To identify salespersons who needs to be promoted

Promotion shall be given on the basis of evaluation

3. To identify salespersons who should be fired/terminated

Termination should be on the basis of performance evaluation

4. To determine the specific training and counseling needs of individual

Training shall be provided on the basis of evaluation

5. To provide information for effective human resource (Succession) planning

Succession planning should be on the basis of performance evaluation so that the exceptional performers must be retained,

6. To identify criteria that can be used to recruit and select salespersons in the future

It helps in understanding the factors that will be useful to recruit and select salespersons

7. To advise salespersons of work expectations

On the basis of evaluation, it will be decided to communicate the work expectations

8. To motivate salespersons

It will help in understanding the factors which motivate the salespersons

9. To help salespersons set their career goals

Salespersons will understand about their future and set their career goals.

10. To enhance effective communications between salesperson and sales manager

It will help to communicate effectively about the expectations of  salesperson and sales manager  and better coordination

7 0
4 years ago
Under variable costing income statements, product cost would include Direct materials only Direct materials, direct labor and fi
pantera1 [17]

Answer:

Direct materials and direct labor.

Explanation:

A variable cost is the one that vary depending on the level of production or sales. The cost increase or decrease according to the level of volume change.

The variable costing charges only direct costs (material, labour and variable overhead costs) into the cost of a product. It is lower than the cost calculated under absorption costing, that also include fixed manufacturing overhead.

Fixed manufacturing overhead is considered as a periodic cost and charged from the periodic gross profits.

4 0
4 years ago
Philip Morris bought Miller Brewing and launched low-calorie beer, at a time when consumers had the impression that low-calorie
Olenka [21]

Answer: Points of indifference

Explanation: Point of indifference can be defined as that level of EBIT at which two alternative financial plans have same amount of net income. It is used by managers as an evaluating tool, when it comes to choose between two cost structures which are alternative of one other.

In the given case, the company must have  build point of indifference before launching of new product, and must have expected higher profits than normal beer.

4 0
3 years ago
On October 1, 2018, Iona Frisbee Co. issued stock options for 300,000 shares to a division manager. The options have an estimate
Gemiola [76]

Answer:

$300,000

Explanation:

Option expenses to be recognized in the first year ,

= \frac{N\ *\ FV}{Total\ vesting\ period}    ×  period elapsed   - Expenses already recognized

wherein N = No of options expected to be vested

              FV = Fair value on the grant date

              Vesting period = The time period after which the options can be exercised

Thus, after the first year, employee compensation expenses to be recognized

= \frac{300000 *\ 3}{3\ years} × 1 year = $300,000 - 0 = $300,000

Similarly, for the second year, option expenses to be recognized would be,

= \frac{300000 *\ 3}{3\ years}  × 2 years - $300,000 =  $300,000

Similarly for the third year

= \frac{300000 *\ 3}{3\ years} × 3 years - ($300,000+ 300,000)  = $300,000

The journal entry to be passed each year would be

Stock Option Compensation Expense A/C   Dr. $300,000

                           To Stock Options A/C                        $300000  

(Being stock option expenses for the year recognized)

5 0
3 years ago
Read 2 more answers
Other questions:
  • The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% co
    14·1 answer
  • To make sure that a manufacturing process meets the acceptable standards and procedures is quality
    14·1 answer
  • Parr Paper's stock has a beta of 1.442, and its required return is 13.00%. Clover Dairy's stock has a beta of 0.80. If the risk-
    8·1 answer
  • Peter Drucker championed several ideas that continue to be influential to this day, including decentralization, employees as cor
    14·1 answer
  • Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges
    13·1 answer
  • In regard to the stages (or rounds) of venture capital funding, the stage of funding that occurs when an investment is made very
    11·1 answer
  • . Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False
    5·1 answer
  • On 1 July 2019, Fisher Ltd decides to lease a cargo ship from XFinance Ltd. The term of the lease is 20
    9·1 answer
  • On January 1, 2015, Truesdale, Inc., purchased a piece of machinery for use in operations. The total acquisition cost was $33,00
    5·1 answer
  • Assume that Selling Division and Buying Division are both owned by Overall Corporation. Selling Division sells a product that is
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!