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makkiz [27]
3 years ago
13

Purple Consulting has five consultants in the firm. The company’s annual revenue is around $500,000. Income is distributed among

all consultants, and each is personally liable for claims if the company goes under.What type of business is this?
Business
1 answer:
Assoli18 [71]3 years ago
3 0

Answer:

The answer is: General partnership

Explanation:

This type of company is created by two or more people that associate in a partnership to carry on a business. An agreement is made between partners (can be written or verbal) to set up the rules on how the partnership will operate. Usually partnership is terminable at will or at death or anyone involved. Their interests or assets can´t be sold without consent of the other partners.

Partnerships are usually considered to be private entities by their own (separate from the partners), so they can own property or sue someone else. They don´t provide liability protection to the partners, so each partner is liable for all debts of the partnership.  

In the US, partnerships report their income to the IRS but are not taxed. Instead, individual partners are taxed based on their share of the profits or losses the partnership reported.

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What two companies rate and publish bonds? a. Poor Richard s and Moody s c. Sampson s and Monroe s b. Standard and Poor s and Mo
Andrej [43]
I think the correct answer from the choices listed above is option B. The two companies that rates and publish bonds are Moody's and Standard's and Poor. These companies had <span>maintained high level of credibility and their ratings are highly respected worldwide. Hope this answers the question.</span>
5 0
3 years ago
Read 2 more answers
True or false: society can attain a higher degree of specialization without the use of money than it can with money.
dalvyx [7]

Society can attain a higher degree of specialization without the use of money than it can with money. The given statement is false.

In order to become more effective, specialization in business is concentrating on a single product or a small range of items. Specialization can boost productivity and give a company or economy a competitive advantage.

A speedier, more efficient workflow is the outcome of each person being able to give their particular task the degree of focus they are capable of. Through specialization, a worker can leverage their education and work history to speed up procedures and boost sales.

One nation might, for instance, be a specialist in growing coffee beans, giving it a competitive edge. Additionally, it can enable this nation to use its current resources to create a sizable quantity of high-quality coffee beans.

Learn more about specialization here

brainly.com/question/24448534

#SPJ4

6 0
1 year ago
Using the income statement for Times Mirror and Glass Co., compute the following ratios:
Umnica [9.8K]

Answer:

(A) Interest coverage charge ratio= 6.21

(B) Fixed charge coverage = 2.84

(C) Profit margin ratio= 8.57%

(D) Total assets turnover= 1.55

(E) Return on assets= 13.26%

Explanation:

(A) The Interest coverage charge ratio can be calculated as follows= EBIT/Interest expense

= 45,300/7,300

= 6.21

(B) The fixed charge coverage can be calculated as follows

= income before fixed charge + interest/fixed charges + interest

= 45,300+13,300/7,300+13,300

= 58,600/20,600

= 2.84

(C) The profit margin ratio can be calculated as follows

= Net income/sales × 100

= 22,800/266,000 × 100

=0.0857 × 100

= 8.57%

(D) The total assets turnover can be calculated as follows

= Sales/total assets

= 266,000/172,000

= 1.55

(E) The return on assets can be calculated as follows

= Net income/Total assets × 100

= 22,800/172,000 × 100

= 0.13255×100

= 13.26%

8 0
3 years ago
24. The Milham Corporation has two divisions—North and South. The divisions have the following revenues and expenses: North Sout
Artyom0805 [142]

Answer:

The elimination of the North division would result in an increase to net operating income of $100,000 for the South division.

Explanation:

Please see computation of the company's overall net profit

= South sales - South variable costs - South traceable fixed costs - South allocated common corporate cost - North allocated common corporate cost

= $880,000 - $550,000 - $80,000 - $50,000 - $100,000

= $100,000 profit.

N.B

Since the North division has been eliminated, all the items for North division would all be ignored except its allocated common corporate cost.

8 0
3 years ago
For 2021, Rahal's Auto Parts estimates bad debt expense at 1% of credit sales. The company reported accounts receivable and an a
Naddik [55]

Answer:

$80,160.

Explanation:

An account receivable is lawfully enforceable cases for installment, held by a business for the products provided and benefits that clients/customers have requested yet not paid for.

According to Rahal's autos noncollectable accounts and the amount they received in the following year. Rahal's collectible accounts on December 31, 2021, is

86,500 + 404,000 - 408,000 - 2,340

3 0
3 years ago
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