All categories

3 years ago

How do a sole proprietorship and a corporation differ?

Business

1 answer:

timofeeve [1]3 years ago

6 0

Answer:

D. All of these are differences between the two type of business

Explanation:

The sole proprietorship is a business organzation owned, controlled and organized by one person.

Features of sole proprietorship

1. It is owned and controlled by one person

2. The owners is personally liable for all business debt.

3. Owners can establish a sole proprietorship instantly, easily, and inexpensively.

4. Sole proprietorships rarely survive the death of their owners.

5. Capital is limited since the business owner is the only provider of capital.

Features of Corporation

1. It protect its owners from personal liability for corporate debts and obligations.

2.A corporation has perpetual life, that is, when shareholders pass on or leave a corporation, they can transfer their shares to others who can continue a corporation's business

3. Corporation is owned by its shareholders and managed by its board of directors.

4. Corporations can raise capital more easily through the sale of securities.

You might be interested in

Place and convenience are connected by a core linkage. While GoPro was able to get the product into locations where customers co

Serggg [28]

Question Completion with Options:

a. ignore convenience stores in its distribution network.

b. deliver fewer cameras than were needed during a holiday season.

c. miss the customer connection by emphasizing place over convenience.

d. exert too much power in the distribution network.

Answer:

GoPro

production problems forced it to

b. deliver fewer cameras than were needed during a holiday season.

Explanation:

Shortages are avoided by producers as much as possible in order not to cause disequilibrium in the market. Shortages are not the same as scarcity. They are temporary setbacks when the quantity demanded outstrips the quantity supplied at the equilibrium market price. The backlashes result in lost sales and revenue for suppliers. Shortages may clear ways for competitors to enter the market to meet the unsatisfied demand.

5 0

3 years ago

At what point should consumers stop researching a product?

lana66690 [7]

Answer: when the research costs more than the potential savings

Explanation:

6 0

3 years ago

Read 2 more answers

Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow: Fees earned $900,

Virty [35]

Answer:

Net income is $135,00 from the income statement.

Explanation:

In the Income Statement for a particular year, all expenses all expenses for the year are deducted from the income to arrive at net income for that year. Based this, we have:

Paradise Travel Service Income Statement For the Year Ended May 31, 2018

Details ($) 

Fees earned 900,000

Office expense (300,000)

Miscellaneous expense (15,000)

Wages expense (450,000)

Net income  135,000 

Therefore, net income is $135,00 from the income statement.

6 0

3 years ago

Aaron promises to sell his boat to Matt, and Matt promises to buy it from Aaron. What type of contract is this? Group of answer

Minchanka [31]

Answer: c. A bilateral contract

Explanation:

In a bilateral contract, the parties involved promise to both perform duties to the other which will make them both an obligor and an obligee.

An obligor is one who owes a duty to another and the obligee is one who a duty is owed to.

Aaron both owes a duty to sell the boat to Matt as well as being owed by Matt the duty to buy his boat. The same goes for Matt thus making this a bilateral contract.

5 0

3 years ago

Suppose that Italy and Sweden both produce rye and cheese. Italy's opportunity cost of producing a pound of cheese is 5 bushels

mars1129 [50]

Answer:

Italy has a comparative advantage in the production of cheese

Explanation:

Suppose that Italy and Sweden both produce rye and cheese.

Italy's opportunity cost of producing a pound of cheese is 5 bushels of rye while Sweden's opportunity cost of producing a pound of cheese is 10 bushels of rye.

By comparing the opportunity cost of producing cheese in the two countries, you can tell that Italy has a comparative advantage in the production of cheese because it has a lower opportunity cost (as a matter of fact half the cost) in comparison with Sweden.

Comparative advantage is an economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners

6 0

3 years ago