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Katyanochek1 [597]
2 years ago
14

Which of the following is typically considered a disadvantage of sole proprietorships? Multiple Choice Income taxes are paid by

both the business and its owner. The business is considered a separate legal entity from its owner. Owner is personally liable for all debts of the business. Establishing the business usually requires legal assistance.
Business
1 answer:
matrenka [14]2 years ago
7 0

Answer:

The answer is: Owner is personally liable for all debts of the business.

Explanation:

Sole proprietorship is the oldest type of business, where a single person is the owner of a business.

Some of the advantages of sole proprietorship are:

  • the simplest and most flexible business structure.
  • owner has complete control and full decision making powers
  • easy to close down the business
  • profits are taxed at the owner´s tax rate

Some of the disadvantages of sole proprietorship are :

  • owner is personally liable for all debts of the business .- if the business goes bankrupt, usually the owner does also
  • death or illness of the owner will lead to the end of the business.
  • difficulties in raising capital from outside sources
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What government organization formed to enforce antitrust laws and to make sure the interests of small businesses were protected
Alex
<span>Federal Trade Commission were formed for those very purpose. 

</span><span>Federal Trade Commission is an independent agency that established in united states. The purpose of this organization is to ensure customer protection from dishonest practices and eliminate various illegal business strategies to create a fairer competitive environment.</span>

5 0
3 years ago
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Which of Daniel’s reasons for rejecting insurance are reasonable?
sleet_krkn [62]

Answer:

To not get life insurance because he has no dependents is reasonable.

Explanation:

7 0
3 years ago
_____ 24. Audrey Corporation's cost formula for its selling and administrative expense is $47,900 per month plus $52 per unit. F
creativ13 [48]

Answer:

The estimated cost for selling and administration expenses is:

47900+52*6000=$359900

Explanation:

Audrey Corporation's cost for selling and administrative expenses present fix and variable costs. They plan a fixed cost of $47,900 and a variable cost of $52 unit.

The formula is:

SandA COST= 47900+52*Q

For April they planned to sell 6000 units.

The estimated cost for selling and administration expenses is:

47900+52*6000=$359900

If the formula is accurate the real cost of selling and administration is:

47900+52*5960=$357,820

7 0
3 years ago
Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019. For t
Colt1911 [192]

Answer: $19000

Explanation:

From the question, we are informed that Vaughn Manufacturing's allowance for uncollectible accounts was $190000 at the end of 2020 and $178000 at the end of 2019 and that for the year ended December 31, 2020, Vaughn reported bad debt expense of $31000 in its income statement.

The amount that Vaughn debited to the appropriate account in 2020 to write off actual bad debts will be:

= $31000 - ($190000 - $178000)

= $31000 - $12000

= $19000

8 0
3 years ago
The owner of a single-family house in which he lives wants to sell. If he does not use discriminatory language in advertising, h
Rzqust [24]

Answer:

The answer is: No, he can't discriminate.

Explanation:

The Civil Rights Act of 1866 defined citizenship without distinction of race or color, and stated that all citizens are equally protected by the law.

So the owner of the house (as well as everyone else in this country) is prohibited by law to discriminate potential buyers on the basis of race.

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3 years ago
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