Answer: B. Before purchasing a franchise, the buyer should carefully evaluate the franchise, the franchisor, his or her own situation, and the nature of the market
Explanation:
A franchise is a method that has to do with the distribution of products or services which involves a franchisor, and a franchisee. A franchisee pays a royalty an initial fee in order to do business using the name of the franchisor.
Before purchasing a franchise, the buyer should carefully evaluate the franchise, the franchisor, his or her own situation, and the nature of the market.
\Answer:
Equipment Cr. $219818.00 is the correct answer.
Explanation:
The asset costed $219818 and when an asset is disposed off, it is written off from the books and its account is closed. The cost of asset is credited in the asset account. Thus, $219818.00 will be credited.
The amount of sales proceed is unknown so we cannot determine if the asset was sold for a loss or gain. Thu option b and d cannot be the right answer.
The amount of accumulated depreciation is given till year end as $197836.20 and this amount will be debited in the correct entry. Thus option c is incorrect.
Answer:
b. a close corporation.
Explanation:
A closed corporation is a corporation in which the shares of the company aren't publicly traded. Shares are held by few people, they are usually family members or mangers of the business. A closed corporation is taxed like a typical corporation and has limited liabilities.
A s corporation is a type of corporation where shares are held by few people. S corporations are taxed like a partnership- they are taxed once.
A non profit corporation is set up for purposes other than to make profit.
I hope my answer helps you
Unexpectedly high inflation tends to hurt lenders the most. When lenders lend money, it is valuable , but the amount of money that must be returned to him/her is fixed. Over time, the value of the money keeps depreciating and finally when the borrower does return the money, the value decreases to a very small amount, which is not worth much. For example, let's say a borrower borrows money from a lender to buy a car. With time, the value of money depreciated so much that when the borrower finally returns the money, the same amount of money is not even worth buying a box a matches!
