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True [87]
3 years ago
13

Identify which of the following statements are true for the corporate form of organization. 1. Ownership rights cannot be easily

transferred.2. Owners have unlimited liability for corporate debts.3. Capital is more easily accumulated than with most other forms of organization.4. Corporate income that is distributed to shareholders is usually taxed twice.5. It is a separate legal entity.6. It has a limited life.7. Owners are not agents of the corporation.
Business
2 answers:
Nat2105 [25]3 years ago
6 0

Answer:

1.Owners are not agents of the corporation- True Managers and directors are the agents of the owners of the corporation. What owners do is not always on behalf of the corporation.

2. It is a separate legal entity.- True Corporate enjoy separate existence. Their assets and liabilities are different from that of their owners.

3. It has a limited life.- False Corporations have unlimite life. They continue to function even after the death of their owners.

4. Capital is more easily accumulated than with most other forms of organization.- True If a corporation needs capital, it cal raise money by issuing shares in the open market. People invest if the prospects are good and the company can gather more funds whenever required. It is also easier for a corporation to acquire loans.

5. Corporate income that is distributed to shareholders is usually taxed twice- True First the Income of the company is taxed which in a way..

Elza [17]3 years ago
6 0

Answer:

These are true:

3.Capital is more easily accumulated than with most other forms of organization.

4. Corporate income that is distributed to shareholders is usually taxed twice.

5. It is a separate legal entity.

7. Owners are not agents of the corporation.

Explanation:

A corporation is a legal business that can exchange ownership of a company or ownership of stock through shares. Thus corporation simply means a group of people who come together to form a legal business entity for the purpose of pursing a goal of generating the highest income or net returns for the shareholders. A corporation whether privately or publicly owned has investors and operates in the best interest of the investors. It also has managers and directors serving as agents of the organization.

There are advantages and disadvantages of corporate form of organization. First of all a corporate organization's ownership is easily transferable form one person to another providing easy  liquidity to stockholders which enables them to easily enter or exit the corporation.

Secondly, the existence or life of a corporate organization is perpetual and unlimited. It exists even after the owners resign or die. It  does not cease to exist except in the event that a corporation is acquired or merged with another then it ceases to exist or a corporation may may fail and cease operations.  Another advantage of a corporate organization is that it has limited liability for stockholders if the business fails but the stockholders are not liable for the debts and losses of the organization beyond the amount they invested.

Corporate organizations also have disadvantages. These organizations are taxable entities and the corporate income is taxed twice. Thereby sharing part or larger sum of its income to with government institutions. Also corporate organizations have the problem of excessive tax fillings which requires a lot of paper work depending on the type of income and taxes to be paid.

 

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John is evaluating which investment would be best for his company. He wants to determine the future value of a certain investmen
ruslelena [56]

Answer: $220

Explanation:

The following information can be derived from the question:

PV = $200

INT = 0.1 or 10%

N = 1 (years)

To calculate the future value of this investment, we will use the formula:

FV = PV( 1 + i)^n

FV = $200(1 + 0.1)

FV = $200(1.1)

FV = $220

The future value of this investment would be $220.

6 0
3 years ago
Bramble Corp. reported the following year-end information: beginning work in process inventory, $270000; cost of goods manufactu
docker41 [41]

Answer:

The correct answer is: Cost of goods sold=$844000

Explanation:

The cost of goods sold refers to the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in creating the goods along with the direct labor costs used to produce the goods. It excludes indirect expenses, such as distribution costs and sales force costs.

COGS=Beginning Inventory+Production during period−Ending Inventory

Cost of goods manufactured= production during the period

COGS= 332000+866000-354000=$844000

8 0
3 years ago
Which of the following journal entries is recorded correctly and in the basic format? a. Salaries and Wages Expense 550, Cash 1,
Yuki888 [10]

Answer:

d.  Salaries and Wages Expense 550, Advertising Expense 950, Cash 1,500

Explanation:

Whenever a new entry is posted firstly the accounts which are debited are entered.

Secondly the accounts which are credited are posted.

And, the total of debit and total of credit shall always be same, so that the entry is recorded properly.

As an expense, it reduces income and is always debited.

And as for settling the expenses cash is paid, cash being an asset when reduced will be credited.

Total expenses debited = Salaries and Wages + Advertising Expense = 550 + 950 = 1,500

Therefore, as against it cash paid = $1,500 shall be credited.

Cash = $1,500

Thus, correct option is d.

5 0
3 years ago
Which legal form of business ownership does the government have the most control in?
kirill115 [55]

Answer:

i am not sure for the first one, but for the second its a corporation

Explanation:

there are a lot of regulations connected with corporations and the taxation of these organizations

5 0
3 years ago
Read 2 more answers
Hurlburt Corporation renewed an insurance policy for 3 years beginning July 1 and recorded the $81,000 premium in the prepaid in
Slav-nsk [51]

Answer:

B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.

Explanation:

If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.

$13,500 reflect the expenses of the past 6 months from July 1 to December 31, then the entry Debit insurance expense for $13,500 and credit prepaid insurance for $13,500 reflect the proper balances at the end of the year.

8 0
3 years ago
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