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amid [387]
4 years ago
5

Carol is a CPA who forms a partnership with another CPA, Pete. They form a limited liability partnership (LLP). If Carol neglige

ntly fails to correctly calculate a client's tax liability, resulting in fines to the client, what will be the outcome?
Business
1 answer:
Zinaida [17]4 years ago
7 0

Answer:

Carol is personally liable for her mistake, and not Dave. Carol was negligent while Dave was not negligent.

Explanation:

Limited liability partnerships offer the advantage of being able to structure the business as a general partnership but liability is not shared by the partners. This is very important specially for some specific trades like accounting, medicine, law, engineering, etc., were liability can be a very serious issue that ranges form small fines to hefty lawsuits.

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Consumer protection laws are meant to:
Marysya12 [62]
<span>B.Prevent unfair or deceptive business practices.
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4 0
3 years ago
Read 2 more answers
The management of GH Apparel has thoroughly analyzed the market and recognizes the wants and needs of different customer groups.
Sergio039 [100]

Answer: Market-oriented

Explanation:

 The market oriented organization is one of the type of business approach that producing the various types of products and the services according to the customer requirement or desire.

The main aim of the market oriented organization is that they focus on the selling and also designing goods and the services that satisfied the consumer desire.  

According to the given scenario, the management of the GH apparel is the market oriented organization as it properly analyzed the market and also recognize the actual requirement of the customer.  

Therefore, Market-oriented is the correct answer.

5 0
3 years ago
Molly's auto detailers maintains its records on the cash basis. During 2018, molly's collected $72,800 from customers and paid $
igor_vitrenko [27]

Accrued Net Income will be calculated as below:

Sales                                                    $72800

Less Expenses                                     $20400

Cash Income                                         $52400

Less: Depreciation                                 $4900

Add: Accounts Receivable Inc              $4500

Less: Reduction in Prepaid Exp             $1900

Add: Reduction in Acc Liab                    $1700

Accrued Income                                   $51800

Depreciation will be reduced as its an expense and all expenses will be reduced.

Increase in Accounts Recievables indicate there have been sales which have not been paid for yet, thus sales will increase and this needs to be added

Reduction in Prepaid Expenses refer to expenses being paid off earlier but now need to be recognised, thus these need to be added to expenses

Reduction in accrued liabilitites indicate that expenses of previous period have been paid off now thus those need to be reduced from cash expenses.

6 0
3 years ago
You own one call option with an exercise price of $30 on Nadia stock. This stock is currently selling for $27.80 a share but is
Shalnov [3]

Answer: 0.755

Explanation:

From the information given, the current per share value of the option if it expires in one year will be calculated as follows:

Firstly, we calculate the present value which will be:

= $28 / ( 1 + 0.05 )

= $28/1.05

= $26.667

The number of options needed will be:

= ( 34 - 28 )/ ( 4-0)

= 6/4

= 1.5

Therefore,

27.80 = (1.5 x Co) + [28 / (1+0.05)]

27.80 = 1.5Co + (28/1.05)

27.80 = 1.5Co + 26.667

1.5Co = 28.0 - 26.667

1.5Co = 1.1333

Co = 0.755

Therefore, the answer is 0.755

5 0
3 years ago
A company’s new eco-friendly dish soap is an extension of its current dish soap line. What type of adopters would probably be mo
Tcecarenko [31]

The company would most probably be interested in early majority .

<u>Explanation: </u>

Adopter categories split consumers into sections on the basis of their willingness to try out new innovations or products.   The categories of adopters had been first given the name and defined by social scientist Everett Rogers in 1962 in the famous book Propagation of Innovation.

Adopter categories as a concept for the propagation of the theory of creativity are extended to several studies, amongst others, marketing, administrative studies, management of information, communications and research of complexity.

Early majority: If this group joins an idea or some other innovation, it appears to be adopted by the public shortly. This group makes useful decisions and practical advantages over coolness.

4 0
3 years ago
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