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VikaD [51]
3 years ago
13

would like to set up a company that has operational flexibility and tax efficiencies, but I would also like reduce my personal l

egal exposure if the company were to go bankrupt or be subject to a tort. Which form of business would best suit my needs?
Business
1 answer:
AURORKA [14]3 years ago
7 0

Answer: D. LLC

Explanation:

A Limited Liability Company (LLC) is your best chance at the requisites mentioned. With an LLC, you go into business with some others and you are called 'owners' or 'members'.

The LLC will be its own distinct legal entity and as such if the company was to go bankrupt, creditors would come after the company and not you meaning that you have limited Liability.

There is also the tax benefit of not having to pay taxes twice. This means that after taxes are paid on the LLC's tax, the income you get from the LLC does not have to be paid tax on.

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The cam therapy that americans have come to rely on heavily for treatment of musculoskeletal problems and that many insurance co
Firlakuza [10]
<span>cam therapy that Americans have come to rely on heavily for the treatment of musculoskeletal problems and that many insurance companies will now cover is: </span><span>chiropractic medicine.
Chiropractic medicine is a form of alternative medicine that is used for treatment in the mechanical disorder of the musculoskeletal system. Over the past few years, many  researches proved that this form of treatment is actually effective and could be depended on, making the insurance companies able to cover it.

</span>
4 0
3 years ago
The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa
Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0
3 years ago
Lusk Company produces and sells 15,200 units of Product X each month.The selling price of Product X is $22 per unit, and variabl
Brrunno [24]

Answer:

1. decrease by $62,200 per month

Explanation:

Fixed Cost savings (FC) from discontinuing product A = $102,000 - $73,000  = $29,000

Variable Cost of 15,200 of product A:

VC = 15,200* \$16 = \$243,200

Revenue from selling 15,200 units of product A:

R = 15,200* \$22 = \$334,400

The change in net income is:

\Delta N=FC+VC-R\\\Delta N=\$29,000+\$243,200-\$334,400\\\Delta N=-\$62,200

The company's overall net operating income would decrease by $62,200 per month

3 0
4 years ago
Compute prime cost given the following data: direct materials, $ 47,500; direct labor, $ 96,300; factory overhead, $ 87,900; and
Jlenok [28]

Answer:

577,1970

Explanation:

that correct answer

6 0
3 years ago
Use what you have learned about managing credit to complete these sentences. Filing for bankruptcy can debt. A major consequence
Agata [3.3K]

Answer:

•Filing for bankruptcy can eliminate debt.

•A major consequence of bankruptcy is that it can harm an individual's chances of receiving additional credit.

Explanation:

Bankruptcy can be defined in three ways.

1. Bankruptcy involves restructuring debts owed by a debtor inorder to be able to pay them. In other words, debtors would file for bankruptcy if they want more time to have their debts restructured(having a payment plan). This gives them another opportunity to pay up their debts.

2. Bankruptcy is  when a company sell off it's assets or liquidate them inorder to pay up the debts owed to creditors.

3. Bankruptcy is when an individual who earns wages or has steady source of income is allowed to have a payment plan in order to pay part of his or her debt.

In the above defined bankruptcy options, the chances of getting additional credit after paying up the initial is low. The reason is that these debts would reflect in the credit report of would be borrower in the future hence pose a red flag to organizations that would grant the credit.

It is important for individuals or companies to manage their credit efficiently. Though filing for bankruptcy can eliminate debt, the major future consequence of it is that it can harm an individual's chances of receiving additional credit.

8 0
4 years ago
Read 2 more answers
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