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
asambeis [7]
3 years ago
13

Ronald is the sole owner of a fast food store. Over the past six months, his sales have fallen and the store has been running at

a loss as a result of a popular fast food chain outlet opening in the area. Friends and relatives who lent Ronald money to open the store want him to sell his personal property in order to repay those loans. What ownership category of business is Ronald in?
Business
1 answer:
Nikolay [14]3 years ago
6 0

Answer:

sole proprietorship

Explanation:

Ronald is the sole proprietorship form of business ownership. As the sole proprietor, Ronald owns and manages the business. He makes all the key business decisions and enjoys all the profits by himself. Should the business make a loss, Ronald will bear it by himself.

Legally, Ronald and the business are considered as one entity. The assets of his business are his personal assets, and so are the debts. In other words, a sole proprietor has unlimited liabilities to the debts of the business. If the business can not pay its debts,  Ronald's personal properties can be sold to pay the creditors.

You might be interested in
Which job category is likely to deal with primarily supply chains
DiKsa [7]
Supply Chain Management
8 0
4 years ago
During December, Rainey Equipment made a $658,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.
crimeas [40]

Answer:

Debit: Accounts Receivable 707,350

Credit: Sales Revenue 658,000

Credit: Sales taxes payable ([6% + 1.5%] × $658,000) = $49,350

Explanation:

3 0
3 years ago
Which typically results from the introduction of the assembly line into the production process?
raketka [301]

The answer is<u> "efficiency is increased".</u>


An assembly line is a manufacturing process in which compatible parts are added to an item in a successive way to make a final result. Much of the time, an assembling mechanical production system is a semi-mechanized framework through which an item moves. At each station along the line some piece of the generation procedure happens. The laborers and hardware used to create the thing are stationary along the line and the item travels through the cycle, from beginning to end.  

5 0
3 years ago
Justin is a sales executive at a manufacturing company. One of his clients who purchases products from him at a higher price tha
Dafna11 [192]

Answer:

The correct answer is option D.

Explanation:

An ethical dilemma can be defined as a situation in the decision-making process in which whatever decision is chosen some ethical principle is being compromised.  

Out of two moral choices, neither one is unambiguously preferable or acceptable. The situation becomes complex as choosing one alternative will lead to transgression of another.

6 0
3 years ago
Movie Makers is a legal entity whose assets and liabilities are separate from its owners. It can receive, own, and transfer prop
Kryger [21]

Answer:

Corporation

Explanation:

The corporation is a legal business entity that is separated from its owners with respect to the assets and liabilities.  

In this business entity, they have the right to received, owned or even transferred the property who are entered into contracts with the other legal entities or with the individuals

In addition, this business entity is to be sued and sued to the individual or other business entities depending upon which entity or individual it is dealing with in the court.

3 0
3 years ago
Other questions:
  • Tonelli Trucking buys a $65,000 truck on credit. Which financial statement will be affected by this transaction?
    11·1 answer
  • In the economy of Talikastan in 2015, consumption was $5300, GDP was $8800, government purchases were $1800, imports were $600,
    12·1 answer
  • The debt-to-equity ratio for your small business was 1.40 at the end of last year and 1.25 at the end of this year. Your debt-to
    9·1 answer
  • What does it mean when a skier holds out one hand, thumb up?'?
    14·1 answer
  • As an adjustment to operating expenses per the income statement, an increase in accrued liabilities would be added to operating
    7·1 answer
  • Menu costs refers to a. the distortion in incentives created by inflation when taxes do not adjust for inflation. b. resources u
    12·1 answer
  • On June 30, Setzer Corporation had a market price of $14 per share of common stock. For the previous year, Setzer paid an annual
    14·1 answer
  • Owner must share their profits.<br> True or false
    14·2 answers
  • Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $1,500 b. Short-term capital l
    9·1 answer
  • Many times training results are not measured sufficiently and/or correctly to provide valuable assessment data regarding the eff
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!