Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate Owen employs few workers and is not expected to earn profit for the first few years. Although, he still hopes to expand his outlet. In this case, a sole proprietorship is the best option because it is easier and cheaper to start a company. The business owner is free to make all decisions without any consultations. The sole proprietorship earns moderate profits and does not require huge funds in the near future. Owen employs only Quinn and Ruth to run the pet store, which means that it is a comparatively small outlet and does not require huge funds for its financing. Owen will enjoy one more advantage of paying a single tax. This means that the owner (Owen) is required to pay tax either on profits or personal income. This is because, in this organization, the owner and the business are the same entity. The earnings from the business are the personal income of the owner.
<h3>What is
business organization?</h3>
The word "business organization" refers to the organizational structure of businesses and how such structure aids in achieving their objectives. Businesses are often built to concentrate on either making a profit or helping society. A company is considered a for-profit entity when it prioritizes making money. An organization is referred to as a nonprofit (or not-for-profit) organization and is not often called a business when it aims to further the social good through the arts, education, health care, or some other sector.
To learn more about business organization from the given link:
brainly.com/question/24734641
#SPJ4
Answer:
The real budgeted value of the work that has actually been performed to date.
Explanation:
Earned value refers to the three primary project success metrics: cost, schedule, and performance. It measures the actual work performed against its budget and schedule. Did the actual work performed corresponds to its work budget and was it performed on time following the schedule? Earned value represents how much of the project's budget has been performed to date, both in monetary and productive terms.
The following are some causes for a bank balance to differ from a company's balance: Deposits in transit, Charges for printing checks and bank services, Accounting mistakes at the business.
<h3>What are financial statement audits mostly focused on?</h3>
- In a financial statement audit, the auditor is able to determine with a reasonable degree of assurance whether there are no major misstatements in the financial statements.
- Cash can easily stolen or misplaced. As a result, it's critical to put internal controls in place to protect these assets and ensure that only authorized individuals have access to them.
- A fundamental internal control process is to deposit all cash receipts in the bank as soon as possible. Cash receipts are frequently deposited by businesses each day.
- The following are some causes for a bank balance to differ from a company's balance: Deposits in transit, Charges for printing checks and bank services, Accounting mistakes at the business.
To learn more about Accounting mistakes at the business refer to:
brainly.com/question/25671660
#SPJ4
Answer:
Please refer the reason in detail below
Explanation:
For state and local government entities, additional standards are promulgated by the Governmental Accounting Standards Board ("GASB") and for the federal government, additional standards are promulgated by the Federal Accounting Standards Advisory Board ("FASAB").
GASB considers budgetary comparisons as an important part of the basic financial statements and financial reporting and therefore include budgetary comparisons in their concept statements
Answer:
Low-priced inventory with high turnover
Explanation:
GOT IT RIGHT IN QUIZ
