Unlimited liability and separate taxation of the business are advantages of a sole proprietorship.
The statement is False.
<h3>What is taxation ?</h3>
In practically every nation on the planet, governments impose taxes as mandatory levies on people or organizations. Although it can be used for other things as well, taxes are typically utilized to finance government spending.
Taxes are imposed on tangible property, including real estate and business dealings like stock sales or home purchases. Taxes exist in a variety of forms, including income, corporation, capital gains, property, inheritance, and sales taxes.
A fundamental method for nations to produce public revenues that enable them to support investments in human capital, infrastructure, and the provision of services for residents and enterprises is through the collection of taxes and levies.
To learn more about taxation from the given link:
brainly.com/question/1980107
#SPJ4
Answer: She will give up on the T-shirt and use the money to buy better jeans.
She will buy the T-shirt for $8 and not order juice at lunch.
Explanation:
A trade-off refers to the compromise which is made when an individual decides to take one action and give up on the other.
When Mila buy's the T-shirt for $8 and does not order juice at lunch, she is making a trade-off between buying a t-shirt and ordering a juice at lunch.
Similarly, when Mila decides to give-up on the T-shirt and decides to buy a better jeans she is making a trade-off between
Answer:
d. $14,250
Explanation:
Calculation of the amount that Gum should report as estimated warranty liability on its December 31, 2009 balance sheet
First step
2% within twelve months following the sale + 4 % in the second twelve months following the sale.
Will give us 6%
Second step is to calculate the estimated warranty liability that should be reported
Sales Total of $400,000×6%
=$24,000
Hence,
Estimated warranty liability =$24,000 -Total of actual warranty expenditures of $9,750
Estimated warranty liability=$14,250
Therefore the amount that Gum should report as estimated warranty liability on its December 31, 2009 balance sheet will be $14,250
Answer:
The $1,200,000 should be accounted for in Grove’s special revenue funds
Explanation:
Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.
The computation of special revenue funds is shown below:
= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district
= $300,000 + $900,000
= $1,200,000
Answer: The stock price is expected to be $57 a share one year from now.
Explanation:
The stock price is expected to be $57 a share one year from now.
Expected return = 14%
current share price= $50
expected share price in a year from now = $50 x (1 + 0.14)
expected share price in a year from now = 57
