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2 years ago

What are the three legal forms of business organization? What are the advantages and disadvantages of each one

Business

1 answer:

My name is Ann [436]2 years ago

7 0

Answer:

Explanation:Three legal form of business organization

(1)sole proprietorship:-this is a one man business the PROPRIETOR. He runs the total affairs of the business

Advantages:-The owner has the final says

He enjoys all profits

Disadvantage:-the owner bears the loss alone.

His death can end the business..

(2)PARTNERSHIP:-It is a business owned by two or more people called partners..

advantages:-fund raising is easy..

They bring experience together..

Work load is shared.

Disadvantages:-profits is sheared..

Disagreement can set in and end the business

Death of some partners can end the business..

LIMITED LIABILITY COMPANY:-A limited liability company is a corporate structure whereby the owner are not personally liable for the company's debt or liabilities. Limited liability companies are hybrid entities that combines Tue characteristics of a corporation with those of a partnership or sole proprietorship..

Advantage:-transfer of ownership is easy..

Disadvantage:-exploitation of share holders..

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muhammad yunus, founder of the grameen bank, was highly successful in his use of applying social incentives through group respon

BaLLatris [955]

Muhammad Yunus, The Grameen bank founder, was highly successful in applying social incentives through group responsibility to maximize loan repayment rates and created an incentive for other banks to offer similar loans to the poor.

Since Professor Muhammad Yunus founded Grameen Bank in 1976, several economists have analyzed the Grameen Bank's success in trying to eradicate poverty in Bangladesh, either theoretically or empirically. He used social incentives through group responsibility to maximize loan repayment rates and created an incentive for other banks to offer similar loans to the poor.

Social incentives refer to a wide variety of interpersonal motivations and rewards that encourage people to act in a socially valued and approved manner. Projecting a positive reputation and social image, obtaining social acceptance, and moving up the social hierarchy are all examples of social incentives.

To learn more about social incentives :brainly.com/question/3579101

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6 0

1 year ago

Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2020, at 102. Interest is payable semiannually on July 1

anzhelika [568]

Answer:

The Journal entries are as follows:

(a) On January 1, 2020

Cash A/c(6,000 bonds × $102) Dr. $612,000

To Bonds payable $600,000

To premium on bonds payable $12,000

(To record the issuance of the bonds)

Workings:

premium on bonds payable = $612,000 - $600,000

= $12,000

(b) On July 1, 2020

Interest expense A/c Dr. $29,700

Premium on bonds payable A/c Dr. $300

To cash A/c $30,000

(To record the interest expense)

Workings:

Cash = $600,000 × (6/12) × 10%

= $30,000

Premium on bonds payable = $12,000 ÷ 40 periods

= $300

Interest expense A/c Dr. $29,700

Premium on bonds payable A/c Dr. $300

To Interest payable A/c $30,000

(To record the accrual of interest expense)

8 0

2 years ago

A personal tax cut of $50 billion will affect income differently than an increase in government spending by $50 billion because:

Bess [88]

Answer:

C) Households may save part of the additional income from the tax cut

Explanation:

When we consider the total household income there is always a major part that is spent, this is called propensity to consume. It is defined as the proportion of total income that consumers are willing to spend.

But propensity to consume doesn't include 100% of household income, there also exists the propensity to save. That is the exact opposite, is the proportion of our income that we will save for future use.

Luckily for us all, the propensity to spend is usually much higher than the propensity to save. We have to remember that private consumption represents nearly 70% of the nation's GDP.

What households save goes to investment in GDP. Investment is always needed but it represents future growth of the GDP while consumption represents current growth of the GDP.

8 0

2 years ago

The ____ is the person or group with the expertise or knowledge the expert is trying to capture.

aliya0001 [1]

The term you are looking for is: DOMAIN EXPERT.

4 0

2 years ago

Lewis Co. sold merchandise to AdCo for $43,000 and received $43,000 for that sale one month later. One week prior to receiving p

Sav [38]

Answer:

Explanation:

Revenue recognition= [Transaction price-(Payment to advertisement-fair value)

Transaction price = $43,000

Payment to advertisement = $9,000

Fair value = $5,000

Thus, the revenue should Lewis co. record for the merchandise sold to Adco is:

= $43,000 - ($9,000 - $5,000)

= $39,000

7 0

2 years ago