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3 years ago

Determine whether each characteristic describes a general partnership (GP), limited liability company (LLC), both, or neither.

Business

1 answer:

andreev551 [17]3 years ago

6 0

Answer:

Explanation:

A general partnership is formed when two or more individuals come together and agree to share all their profits, assets, and the legal and financial liabilities.

Limited liability Company is a private company whereby the owners will be legally responsible for its debts based on the contribution of the capital thst they invested.

a. Must pay a business (corporate) income tax.

Neither. The above characteristic doesn't describe a general partnership (GP), or a limited liability company. They don't have to pay a corporate tax but will pay personal income tax by the owner.

b. When the business cannot pay its debts, creditors can take the owners' personal assets.

General partnership. When the business cannot pay its debts, creditors can take the owners' personal assets is a characteristics of general partnership.

c. All owners can have management duties.

Limited liability company. The above is a characteristics of limited liability company because all the members have equal status.

d. The owners are often referred to as members.

Limited liability Company. The owners of a limited liability Company are often referred to as members. This is contained in the Article of Organization.

e. Ownership is split among two types of owners: general and limited partners.

Neither. Ownership is split among two types of owners: general and limited partners isn't q characteristics of general partnership or limited liability Company.

f. Owners have limited liability.

Limited liability Company. Here, the owners have limited liability.

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Allan purchased 800 shares of stock on margin for $31 a share and sold the shares five months later for $33.50 a share. the init

quester [9]

Answer:

Holding period return = 4.94%

Explanation:

Given that :

Allan purchased 800 shares of stock on margin for $31

And He sold it at the rate of $33.50 after five months.

Initial Margin requirement = 65%

Maintenance Margin = 30%

Interest Rate on Margin loan = 7.5%

The Holding period return can therefore be calculated by the formula:

Holding period return = (sale price - purchase price - interest paid )/Purchase price

where ;

31 × 800 = 24800

Interest for five month = 5/12

Holding period return = (33.50-31)×800 - (7.5% ×24800× 5/12) / 24800

Holding period return = (2000-775)/24800

Holding period return = 0.0494

Holding period return = 4.94%

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3 years ago

EcoSacks manufactures cloth shopping bags. The controller is preparing a budget for the coming year and asks for your assistance

Sidana [21]

Answer:

ECOSACKS

Production Budget

Sales 540,000

closing inventory(FG) 210,000

750,000

Opening Inventory(FG) ( 120,000)

Production 630,000

Materials Purchase budget 

cotton canvas

yards yards

Material usage 630,000 126,000

Material purchase cost $2,520,000 $1,512,000

 Labor Budget 

labor hour(630,000*0.5) 315,000

Labour cost (315,000*18) $5,670,000

 Overhead budget

Production unit 630,000

Overhead cost ( 630,000*$3.40) $2,142,000

Explanation:

8 0

2 years ago

Read 2 more answers

The Constitution sets out the authority and the limits of the branches of the government.

kotegsom [21]

Answer:

The correct answer is c. each branch has some power to limit the actions of the others.

Explanation:

The separation of powers or division of powers is a political principle in some forms of government, in which the legislative, executive and judicial powers of the State are exercised by distinct, autonomous and independent organs of government. This is the fundamental quality that characterizes representative and presidential democracy.

Montesquieu argued that “every man who has power is inclined to abuse it; He goes until he finds limits. So that the power cannot be abused, it is necessary that, by the disposition of things, the power stops the power ».3 In this way, the vigilance of the three powers among themselves is entrusted as each one watches, controls and stops the excesses of others to prevent, by their own ambition, that some of them predominate over others. It can be contrasted with the fusion of powers and separation of functions in parliamentary systems, where the executive and the legislature are unified, because the legislature appoints the executive.

3 0

2 years ago

The effect of bulky or heavy products on transportation costs can make _______ an inappropriate strategy.

emmainna [20.7K]

Transportation costs can make exporting an inappropriate strategy.

If a product is bulky or heavy, because of its weight or mass the transportation costs will obviously increase and make it more expensive, and unless the product carries an extraordinary high value-to-weight ratio the exporting strategy will be considered the least effective.

3 0

3 years ago

Assume the following: The standard price per pound is $2.00. The standard quantity of pounds allowed per unit of finished goods

adell [148]

Answer:

Direct material price variance= $12,500 unfavorable

Explanation:

Giving the following formula:

The standard price per pound is $2.00.

The actual quantity of materials purchased and used in production is 50,000 pounds.

The actual purchase price per pound of materials was $2.25.

To calculate the direct material price (spending) variance, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 2.25)*50,000

Direct material price variance= $12,500 unfavorable

6 0

3 years ago