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notka56 [123]
3 years ago
14

The johnsons are in an auto accident with a driver who lives near them in the same town. no one is injured and the johnsons' car

suffered only $5,000 in damages. why can't the johnsons sue the other driver in federal court? .
Business
1 answer:
jek_recluse [69]3 years ago
6 0

The Johnson's can't sue the driver in the Federal Court because the Johnson's live in the same state (since the driver lives near the Johnson's in the same time) and the damages ($5,000.00) are too small.  

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Patent laws create a dilemma. The idea behind patent protection is to provide inventors, entrepreneurs, and firms an incentive t
solniwko [45]

Reducing the duration of patent law protection. This would allow firms to recover the costs associated with developing a new product but prevent firms from earning outlandish profits.

Answer: Option D.

<u>Explanation:</u>

The major motive and aim of patent is to increase and encourage the motivation of the producers to innovate and produce new things which can increase the efficiency in the process of production. This is done to increase the innovation.

But if the time of patent of a particular good is reduced then the firm will be able to cover it's cost on the innovation but it would not lead to any kind of inefficiencies as others will also be able to use it after patent is over.

4 0
3 years ago
On December 31, Rivera Company receives a utility bill in the mail for $440. Rivera Company intends to pay the bill in early Jan
olga55 [171]

Answer:

(a)overstated

(b)overstated

(c)no effect

Explanation:

(a) As there is an expense account (utilities expense) which, is not included in the income statement, result for the year will be higher than if was.

(b)The revenues account will be oaky. But, the total expenses will be lower, as there are cost of the period which are not included.

So the Net incoem will be higher than a correct income as their expenses do not include this utilities expense

(c) The balance sheet  will have no effect in the total Asset or Total Liaiblities+SE but, it is a change in the composition.

The income (reained earnings) should be lower as the income will be lower and a liability will be create (utilities payable) to fill this so:

with the mistake:

liab 0  equity (+400)

ammending the mistake

liab 400 equity 0

the net effect is zero.

It will decrease equity and increase liability, but the su of both will be the same

7 0
3 years ago
Divisional Income Statements
jekas [21]

Answer and Explanation:

The Preparation of divisional income statements is following below:-

                                 Ruiz Industries Inc.

                               Divisional Income Statements

                    For the Year Ended November 30, 2018

                                     Commercial Division         Residential Division

Sales a                                  $479,140                         $292,280

Cost of goods sold b           $316,230                          $163,680

Gross profit c = (a - b)          $162,910                          $128,600

Administrative expenses d $57,500                           $58,460

Operating income              $105,410                          $70,140

(e = c - d)

Support department

allocations f                           $43,120                           $28,350

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(g = e - f)

So, to reach at segment income we subtract the Support department allocations from operating income.

5 0
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When the economy entered a serious recession in 2008, the response of the U.S. government was to institute a $700 billion bailou
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Answer:

functional finance and expansionary fiscal policy

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Functional finance is an economic theory proposed by Abba P. Lerner, based on the principles of efficient demand and chartalism. It states that government should finance itself to accomplish explicit goals such as subduing the business cycle, reaching high employment, guaranteeing development and low inflation.

Expansionary fiscal policy is a type of fiscal policy involving a reduction in taxes, an increase in government spending, or both, to counter recessionary pressure. A reduction in taxes means households have more disposal funds to spend

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Who assumes the risk in a sole proprietorship?
trasher [3.6K]
B - the business owner
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