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ahrayia [7]
3 years ago
15

Harry and Meghan have considered starting their own business but are concerned about the possibility of losing even their person

al assets if the business fails. One way for BOTH Harry and Meghan to avoid this liability risk would be to :
A.
divorce as soon as possible and establish two sole proprietorships

B.
Organize a limited partnership with Harry as the general partner

C.
set up offshore accounts

D.
form a corporation
Business
1 answer:
schepotkina [342]3 years ago
4 0

Answer:

The correct option is D,form a corporation

Explanation:

The rationale for my choice of answer is that limited liability applies to a corporation which is found in other types of businesses.

Limited liability is a concept which implies that the liability of shareholders in a limited liability company is limited to the amount contributed to the business by a way of shares held in the company.

When a company runs into debt,the shareholders would not be required to make up such debts from their private pockets,hence Harry and Meghan personal effects are secure.

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Tora Co. plans to produce 1,020 units in July. Each unit requires two hours of direct labor. The direct labor rate is $20 per ho
kompoz [17]

Answer: $40,800

Explanation:

Each unit requires 2 hours of direct labor.

1,020 units would therefore require:

= 1,020 * 2

= 2,040 hours of labor

The direct labor rate is $20 per hour. If there are 2,040 hours to be worked, the cost would therefore be:

= 20 * 2,040

= $40,800

7 0
3 years ago
On December 31, 2018, the balance in Megan's Products Accounts Receivable was $680,000 and net credit sales amounted to $3,800,0
Andru [333]

Answer and Explanation:

The Journal entry is shown below:-

a. Bad Debt Expense Dr, $36,800            ($40,000 – $3,200)

                    To Allowance for Doubtful Accounts $36,800

(Being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited

b. Bad Debt Expense Dr, $40,730          ($40,000 + $730)

     To Allowance for Doubtful Accounts $40,730

For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited

7 0
3 years ago
Which of the following examples demonstrates the law of demand?A) Mary buys fewer Milky Ways at $0.80 per Milky Way after the pr
777dan777 [17]

Answer:

The correct answer is letter "C": Kelvin buys more donuts at $0.80 per donut than at $0.95 per donut, other things equal.

Explanation:

The demand law states that if the price of a good or service decreases, the quantity demanded for that good or service will increase. On the other hand, if the price of a god or service increases, the quantity demanded will decrease. The price-quantity demanded of the demand law is inversely proportional, <em>ceteris paribus</em>.

Thus, Kelvin's case is an example of the demand law since he purchases more donuts when the price is lower ($0.80) and purchases fewer donuts when the price is higher ($0.95).

4 0
3 years ago
What employee census data should sally gather to prepare for a benefits bid?
PilotLPTM [1.2K]

The employee census data that should be gathered by Sally to prepare for a benefits bid are;

  • Name
  • Age or date of birth
  • Number of dependents.

<h3>What are employee census data?</h3>

Employee census data can be regarded as the information needed from the employee to file a benefits bid.

Therefore, Name and Age are required for employee census data that should be gathered by Sally to prepare for a benefits bid.

Learn more about employee census data at:

brainly.com/question/25741658

3 0
2 years ago
Cameron has applied for a loan to expand his young business. When bankers look for evidence of whether he will be able to repay
Readme [11.4K]

Answer:

what Cameron's firm has done in the past.

Explanation:

Small businesses do request for loans in some cases when they aim at using borrowed funds as capital to become more profitable in their business. When such requests are made, the bank can decide to look at what has been done in the past by the firm to ascertain if they can be able to repay the loan. They usually look at the current and past loans (If any) and debts that have been incurred by the business. In some cases, they also examine the bank accounts the business won and their tax IDs, etc.  

3 0
2 years ago
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