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3 years ago

List the characteristics typical of a c corporation

Business

1 answer:

Svet_ta [14]3 years ago

3 0

Answer:

The five main characteristics of a c corporation are:

limited liability: the owners' liability is determined by the amount of money they invested in purchasing the corporation's stock.
corporations are owned by stockholders: every single stockholder owns a piece of the corporation, the size of that piece is determined by the amount of stocks.
double taxation: owners of the corporation suffer from double taxation because first the corporation must pay corporate taxes and then the owners must pay income taxes when they receive dividends.
corporations are separate entities: corporations exist by themselves, they are born when they are created and die when they are dissolved.
corporations are professionally managed: the owners elect a board of directors and the board is responsible for hiring professional management.

Explanation:

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The process that individuals or groups go through to select, purchase, use, and dispose of goods, services, ideas, or experience

Eddi Din [679]

The process that individuals or groups go through to select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires is known as Consumer Behavior.

<h3><u>Explanation</u>:</h3>

The process that deals with the study of how the individuals and the organisations selects, purchases and uses and disposes the goods and services is the consumer behavior. These are done for the satisfaction of their wants and needs. The main thing that is associated with the consumer behavior is the motivation and psychology of the purchasing person.

It deals with the activities of the consumers in purchasing a particular product or services and the motivations that is responsible for that selection of the product. The consumer behaviors can be classified as habitual buying,complex buying variety-seeking buying and dissonance-reducing buying.

4 0

4 years ago

Eve's Apples opened for business on January 1, 2018, and paid for two insurance policies effective that date. The liability poli

Nutka1998 [239]

Answer: 18,000

Explanation:

Liability policy:

$Insurance\ expense\ per\ month=\frac{Prepaid\ Insurance\ for\ liability\ policy}{Period\ of\ policy}$

$Insurance\ expense\ per\ month=\frac{36,000}{18}$

= 2,000

Insurance expense 2018:

= No. of months from 1 Jan 2018 to 31 Dec 2018 × Insurance expense per month

= 12 × 2,000

= 24,000

Prepaid insurance balance for liability policy on 31 Dec, 2018:

= Prepaid Insurance for liability policy - Insurance expense 2018

= 36,000 - 24,000

= 12,000

Crop damage policy:

$Insurance\ expense\ per\ month=\frac{Prepaid\ Insurance\ for\ crop\ damage\ policy}{Period\ of\ policy}$

$Insurance\ expense\ per\ month=\frac{12,000}{24}$

= 500

Insurance expense 2018:

= No. of months from 1 Jan 2018 to 31 Dec 2018 × Insurance expense per month

= 12 × 500

= 6,000

Prepaid insurance balance for crop damage policy on 31 Dec, 2018:

= Prepaid Insurance for crop damage policy - Insurance expense 2018

= 12,000 - 6,000

= 6,000

Therefore,

Total prepaid insurance balance on 31 Dec 2018:

= Prepaid insurance balance for liability policy on 31 Dec, 2018 + Prepaid insurance balance for crop damage policy on 31 Dec, 2018

= 12,000 + 6,000

= 18,000

7 0

3 years ago

The method that uses a certain percentage of each year's net sales to estimate the uncollectible account is called the:

allsm [11]

Answer:

Percentage of net sales method

Explanation:

By using the percentage of net sales method, a business assumes that a certain percentage of the year's net sales will be uncollectible. This method relies on historical correlation between sales and uncollectible account from previous periods and can be highly reliable if a strong correlation can be observed.

3 0

3 years ago

The ledger of Marigold Corp. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared.

k0ka [10]

Answer:

1. July 31

Dr Supplies expense $9,120

Cr Supplies $9,120

2. July 31

Dr Rent expense $900

Cr Prepaid rent $900

3. July 31

Dr Salaries and wages expense $2480

Cr Salaries and wages payable $2480

4. July 31

Dr Depreciation expense $400

Cr Accumulated depreciation - Building $400

5. July 31

Dr Unearned service revenue $3,760

Cr Service revenue $3,760

6. July 31

Dr Miscellaneous expense $1,840

Cr Miscellaneous expense payable $1,840

Explanation:

Preparation of the adjusting entries at July 31 assuming that adjusting entries are made monthly.

1. July 31

Dr Supplies expense $9,120

Cr Supplies $9,120

($24,000-$14,880)

(Being To record supplies expense)

2. July 31

Dr Rent expense $900

Cr Prepaid rent $900

(3,600*1/4)

(Being To record rent expense)

3. July 31

Dr Salaries and wages expense $2480

Cr Salaries and wages payable $2480

(Being To record salaries and wages expense)

4. July 31

Dr Depreciation expense $400

Cr Accumulated depreciation - Building $400

($4,800*1/12)

(BeingTo record depreciation expense)

5. July 31

Dr Unearned service revenue $3,760

Cr Service revenue $3,760

(Being To record unearned service revenue)

6. July 31

Dr Miscellaneous expense $1,840

Cr Miscellaneous expense payable $1,840

(Being To record maintenance and repairs expense)

7 0

3 years ago

ABC Farm Supplies has adopted policies and procedures designed to eliminate non-discriminatory practices in hiring and promoting

ikadub [295]

Answer:

Affirmative action

Explanation:

This is a term that describes effort or action to recruit disadvantaged groups or groups previously excluded. This is also used to ensure gender balancing in organisations. Some organisations consciously seek to fill up top positions at their board with women. The Beijing conference on women empowerment sought for increased women participation in key decision positions.

ABC effort can be described as an Affirmative action towards recruiting a group that was previously disadvantaged or discriminated upon previously.

8 0

3 years ago