The major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
The corporate form of ownership means a business/organization that is operating as a legal entity, that is, it is run separate from the parties who own it.
In other word, the corporation which operates as legal entity is created for purpose of operating for profit for individuals, stockholders, shareholders etc
<u>Some </u><u>advantages </u><u>of </u><u>corporation </u><u>includes</u>
- Owners has limited liability.
- The easy transfer of ownership.
- The corporations usually lasts forever.
In conclusion, the major advantage of the corporate form of ownership is limited legal liability which means that the owner is limited to liability up to the tune of the amount that he invested in the company.
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Answer:
C. $34,300.
Explanation:
Gross profit= Net sales - cost of sales
1. <u>calculating net sales</u>
= sales- sales returns and allowances
=$48,000-6000
=$42,000
2.<u> calculating cost of sales</u>
=opening stock + purchases- closing stock
=($900+$9100)-$2300
=$7,700
3. Gross profit
=$42,000-$7,700= $34,300
Gross profit =$ 34,300
Answer:
An unlimited life spam
Explanation:
If your firm has an existence independent, it will continue to exist indefinitely unless it is legally disbanded. Limited liability prevents you from being held personally liable for their company's obligations or legal judgements. Shareholders were protected from legal responsibilities and debts by corporate entities.
Answer: 18%
Explanation:
Assume sales is $100.
Profit is 15% of sales so profit is:
= 15% * 100
= $15
Cost is 50%:
= 50% * 100
= $50
If costs were reduced to 47%, it would become:
= 47% * 100
= $47
This means that $3 has been freed up.
This $3 will go to the profit because the other costs are not dependent on production and so are considered fixed.
With $3 going to profit, the profit becomes:
= 3 + 15
= $18
Profit percentage:
= 18 / 100
= 18%
