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4 years ago

Which of the following is a false statement regarding a sole proprietorship?

Business

1 answer:

Kaylis [27]4 years ago

7 0

Answer:

E) A sole proprietor is not personally liable for the obligations of the business.

Explanation:

Sole proprietorship is a kind of business owned by one man. Characteristics of a sole proprietorship includes;

A sole proprietorship requires few legal formalities.
A sole proprietor has complete control of the management of the business.
The sole proprietor keeps all the profits from the business.
Profits are taxed as the personal income of the sole proprietor.

It is the oldest and simplest form of business.

The answer is a sole proprietor is not personally liable for the obligations of the business.

You might be interested in

The best explanation of why Gulf airlines are giving U.S. legacy carriers stiff competition is that the Gulf carriers:

EleoNora [17]

Answer:

C. offer better service for lower costs than do the U.S. legacy carriers.

Explanation:

Globalization is best described as a process of closer integration and exchange between different countries and peoples worldwide, made possible by falling trade and investment barriers, advances in telecommunications, and reductions in transportation costs.

The strategic foundations of the globalization hypothesis are based primarily on cost reduction, which benefits the company in beating the rivals in the global market.

In the given case, Gulf airlines are giving U.S. legacy carriers stiff competition because Gulf carriers offer better service for lower costs than do the U.S. legacy carriers.

4 0

3 years ago

Compared to marketing to consumers, organizational buying is characterized by ______.

Ainat [17]

Answer:

far fewer buyers is the correct answer.

Explanation:

8 0

3 years ago

Assume France and Mali can both produce grain and dates, and that the only limited resource is the farming labor force, meaning

soldi70 [24.7K]

Answer:

In France:

Farmer can produce = 10 metric tons of grain or 5 metric tons of dates in a season

In Mali:

Farmer can produce = 10 metric tons of grain or 25 metric tons of dates.

(1) Mali has the absolute advantage in producing dates because Mali produces more metric tons of dates than France from the same level resources.

(2) No country has an absolute advantage in producing grain because same amount of grain were produced by both the countries with the same level of resources.

(3) Opportunity cost of dates in France = $\frac{10}{5}$

= 2 grain

Opportunity cost of dates in Mali = $\frac{10}{25}$

= 0.4 grain

Therefore, Mali's opportunity cost of producing dates is lower than France, so Mali has a comparative advantage in producing dates.

(4) Opportunity cost of grain in France = $\frac{5}{10}$

= 0.5 dates

Opportunity cost of grain in Mali = $\frac{25}{10}$

= 2.5 dates

Therefore, France's opportunity cost of producing grains is lower than Mali, so France has a comparative advantage in producing grains.

7 0

3 years ago

An investment pays $400 in one year, X amount of dollars in two years, and $500 in three years. The total present value of all t

k0ka [10]

Answer:

X = 789.70

Explanation:

we solve for X considerign each deposit is discounted at the given rate using the lump sum formula:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

$\frac{400}{1.06}+\frac{X}{1.06^2} +\frac{500}{1.06^3} = 1,500\\X= (1,500 - \frac{400}{1.06} - \frac{500}{1.06^3}) \times 1.06^2$

X = 789.7018868

6 0

3 years ago

Which 2 statements are true regarding the multicurrency function in quickbooks online?

kkurt [141]

The 2 statements that are true regarding the multicurrency function in QuickBooks online are

Once multicurrency has been enabled, you cannot disable this feature
For most of the commonly used currencies, the rates are updated every 4 hours.

This is further explained below.

What is multicurrency?

Generally, It's a special kind of bank account that lets you transfer, receive, and keep many different currencies at the same time.

A multi-currency account enables you to utilize a single account number for each kind of currency, which eliminates the need to create several bank accounts, each of which would have a unique account number that would need to be kept track of.

In conclusion, The statement are

Once multicurrency has been enabled, you cannot disable this feature
For most of the commonly used currencies, the rates are updated every 4 hours.