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3 years ago

If a sole proprietorship fails, the owner of the business will _______

Business

1 answer:

OLEGan [10]3 years ago

7 0

Answer:

If a sole proprietorship fails, the owner of the business will pay all business debts.

Explanation:

A sole proprietorship can be described as a business that is established by a single person and he/she solely is the owner of that business set up. All the profits earned by the company would be received by the sole trader. Likewise, the sole trader would be the person to pay all taxes for the company.

In case the sole proprietorship fails, the sole trader would be the only person who would have to pay all the debts.

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Which of the following best

snow_tiger [21]

Answer:

Umm c

Explanation:

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2 years ago

Sam Burke, CPA, finds a material error in his client's previously filed tax return and advises the client on how to correct it.

Anton [14]

Answer:

The answer is: C) Consider his continued association with the client.

Explanation:

The American Institute of Certified Public Accountants (AICPA) issues a professional conduct code that regulates their affiliates' activities. According to AICPA's Responsibilities and Public Interest principles, Sam should not continue to work with this client. Sam cannot maintain a professional conduct if he accepts that his client doesn't correct his prior mistakes. If those prior errors persist, then his job will be negatively affected and then it will his responsibility. Accounting is not something static that begins and ends in one period, past records affect present and future records.

5 0

3 years ago

Beach Surf Boards is making a decision on whether to add long boards as a new product line to complement its short boards. A rec

Verizon [17]

Answer:

profit increase by 750 dollars

Explanation:

We must base our analisys considering only the loan board associated cost:

contribution per long board:

300 sales price - 225 variable cost = $75

total contribution for 250 units:

250x$75 = 18,750

increase in fixed cost:

69,000 - 51,000 = 18,000

incremental operating profit:

18,750 contribution - 18,000 fixed cost = 750

4 0

3 years ago

MC Qu. 120 Dallas Company uses a job order... Dallas Company uses a job order costing system. The company's executives estimated

SVETLANKA909090 [29]

Answer:

$6.91 per direct labor hour

Explanation:

Given that,

Estimated direct labor = $2,640,000

Estimated direct labor hours = 220,000

Factory overhead = $1,520,000

Actual overhead costs = $1,220,000

Therefore,

Predetermined overhead rate:

= Estimated overhead cost ÷ Estimated direct labor hours

= $1,520,000 ÷ 220,000 hours

= $6.91 per direct labor hour

4 0

3 years ago

We calculated the gains and losses from price controls on natural gas and found that there was a deadweight loss of $5.68 billio

Simora [160]

Answer:

Explanation:

1. If the price of oil were $70.00 per barrel, what would be the free-market price of gas?

The free-market price is defined by the equilibrium point: when the quantity demanded and the quantity supplied are equal.

QS = 15.90 + 0.72PG + 0.05PO

QD = 0.02 – 1.8PG + 0.69PO

15.90 + 0.72PG + 0.05(70.00) = 0.02 – 1.8PG + 0.69(70.00)

19.4 + 0.72 PG= 48.32-1.8PG

PG(0.72+1.8)=48.32-19.4

PG= 28.92/2.52

PG= $11.48

QS=QD= 15.90+0.72(11.48)+0.05(70.00)

QS=QD= 27.66

What would be the deadweight loss if the price of natural gas were regulated to be $4.00? The deadweight loss would be $___ billion. (Round answer to two decimal places)

If PG is $4.00

The quantity supplies will be less than the quantity demanded. The quantity supplied will be the quantity sold in the market.

QS= 15.90+0.72(4)+0.05(70.00)

QS= 22.28

To find the deadweight loss we must evaluate the quantity supplied in the demand curve:

22.28 = 0.02 – 1.8PG + 0.69(70.00)

1.8PG= 48.32-22.28

PG= 26.04/1.8

PG= 14.47

And now we calculate the area shown in the figure attached:

Base: 14.47-4= 10.47

Height: 27.66-22.28= 5.38

Deadweight loss: (10.47*5.38)/2

Deadweight loss: 28.1643

The deadweight loss would be $28.16 billion.

6 0

2 years ago