A form of business ownership that provides limited liability to its owners, but is taxed as a partnership is a Limited Liability Company (LLC).
Limited Liability Company (LLC) is a form of business structure that gives protection to its owners against any debts or liabilities owned by the company. This means that the liability of the owners is limited to the amount of investment they have in the company.
This type of business is growing primarily in the United States. They do not pay taxes on their profits directly. Their profits and losses are passed through to members, who report them on their individual tax returns.
Therefore, Liability Company (LLC) is a form of business ownership that provides limited liability to its owners, but is taxed as a partnership.
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The profit and loss account is used to determine the net profit of the business. The starting point for the profit and loss account is the balance carries down from the trading account which is the gross profit of business. Hope this helped you out...
Answer:
it would be A the two forms are: Partnership & Corporation
Explanation:
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Answer:
(A) $144,000.
Explanation:
For computing the indirect costs allocated to the Commercial Department first we have to compute the per unit cost which is shown below:
Per unit cost = (Allocated department overhead indirect cost) ÷ (total number of direct labor hours)
= $396,000 ÷ 22,000
= $18
The total number of direct labor hours = Consumer + commercial
= 14,000 + 8,000
= 22,000
Now the indirect cost equal to
= Per unit cost × Commercial direct labor hours
= $18 × 8,000
= $144,000
Answer:
Deregulation can describe either removing government control of the price of a good or the removal of government control of quantities.
Explanation:
Deregulation is the removal of government control , regulation or power in a particular sector or industry. An example of deregulation is the mail delivery. The government had a monopoly on the royal mail for many years
Deregulation can involve :
- removal of government control on price
- Removal of control on quantities
Advantages of deregulation
- It increases the rate of innovation and competition. This increases consumer choice.
- Efficiency of corporations are increased and this lowers cost
Disadvantages of deregulation
-
Customers are more vulnerable to high risk-taking by companies.
