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4 years ago

How do a sole proprietorship and a corporation differ?

Business

1 answer:

timofeeve [1]4 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.

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In a transaction that is subject to a licensee buyout agreement, if the buyer defaults the seller may:

vagabundo [1.1K]

Answer:

Sue the buyer for specific performance

Explanation:

In a licensee buyout addendum to a contract to buy and sell real estate, "Liquidated losses" (buyer lose earnest money) is omitted.

If the buyer / broker gets cold feet, the cure is Specific Performance meaning the seller may sue for damages and compel the agent to purchase them.

8 0

3 years ago

Family wealth means debt subtracted from salable assets. given the prevalence of debt for those in poverty, what are the possibl

kolbaska11 [484]

The scenario implies that no family wealth will be passed onto children after their parent's death because the parent's debt will cancel out any assets that were accumulated during their life.

5 0

3 years ago

Current information for the Healey Company follows:

Zarrin [17]

Answer:

The correct answer would be option A, $125800.

Explanation:

Cost of goods manufactured= Total costs + beginning work in process - Ending work in process

Total costs include Direct Materials, Direct labor and Factory Overheads. So the Above formula can be written as:

CGM = (Direct materials + Direct Labor + Factory overhead) + Beginning WIP - Ending WIP

Now

Direct Materials = Beginning raw materials + Purchased Raw Materials - Ending Raw materials

= 15200+60000-16600= 58600

Now Direct labor given is = 42800

And Factory Overheads = 30000

So,

Total costs= direct materials + Direct Labor + Factory Overhead

Total Costs= 58600 + 42800 + 30000

= 131400

Beginning work in process = 22400

Ending work in process = 28000

NOW Costs of Goods Manufactured/CGM = Total Cost + Beginning WIP -Ending WIP

= 131400+22400-28000

=$125800

5 0

4 years ago

A static budget is one that shows estimated revenues and costs at multiple activity levels. true or false

maxonik [38]

Answer:

A static budget is one that shows estimated revenues and costs at multiple activity levels.

True

Which of the following is not typically found in a decentralized organization?

Asset center

Explanation:

3 0

3 years ago

Bronn tells Jaime, "I really like your armor." Jaime responds, "I will sell it to you for $800." Bronn states, "Sure, and throw

Genrish500 [490]

Answer:

B. price subject

Explanation:

For this contract to be enforceable, it must include price, matter and delivery date. These aspects are all best essential and should be included in the contract. From the question when Jaime wrote the contract he failed to detail the price they agreed upon. Even though the rest were included. Therefore this contract cannot be enforced since it is missing this important aspect. Option b is the answer to the question

5 0

3 years ago