A firm owned by a single person who has unlimited liability for the firm's debt is called a: sole proprietorship
What is a sole proprietorship?
A sole proprietorship is a one man business where the owners the entire the business, contributes all finances as well as unlimited liability for the debts of the business.
This means that when the assets of the business are not enough to settle its debts, the owners would pay the excess debts from their private account or using their personal assets to settle firm's debts
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Answer:
$2,141.16
Explanation:
The formula and the computation of the future value is shown below:
Future value = Present value × (1 + rate)^number of years
where,
Present value = $1,600
Rate = 6%
Number of years = 5 years
So, the future value
= $1,600 × (1 + 0.06)^5
= $1,600 × 1.3382255776
= $2,141.16
Hence, the future value is $2,141.16
We simply applied the above formula to determine the future value
Answer:
Valerie purchased newly issued shares of Velcro, Inc.
Explanation:
The primary market offer shares directly from the firm.
A firm offer their shares and investor purchases from the firm. After this, the subsequent trades on this share occur on the secondary market.
The primary market enables a way to raise funds without taking debt.
Valerie is purchasing new shares so, it is acting in the primary market.
The other trasnaction are trading shares already issued, which is secondary market.
And the answer is A. Credit <span>refers to the money that a bank pays an account holder for putting money in the bank for a certain period.</span>