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STALIN [3.7K]
3 years ago
10

Ted and Fred are the owners of a gas station. They invested $150,000 each and pay an employee named Lawrence $35,000 per year. T

his year revenues are $900,000, while costs are $940,000. Who is legally responsible for bearing the $40,000 loss?
Mathematics
1 answer:
Serjik [45]3 years ago
8 0

Answer:

Ted and Fred

Step-by-step explanation:

As per the question,

Ted and Fred are the owners of a gas station that is they are the owner of their own firm.

As being the owner of their own company, they are the one who is responsible for their loss. That is the firm’s owners always suffer the firm’s risk.

Business Risk: Risk that a business will not be able to cover its operating costs.

So in this case, Lawrence is the employee and legally he is not responsible to suffer any kind of the loss.

So he must be paid his salary  on time and in full whether or not the firm is running a profit, a loss, or just breaking  even.

As being owner Ted and Fred are responsible to withstand the business risk.

Hence, the person who is legally responsible for bearing the $40,000 loss is Ted and Fred.

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2 years ago
The population of a certain type of seahorse grew by 13% from year to year.
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Step-by-step explanation:

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2 years ago
The angle of the elevation of the sun is 34 degrees. Find the length, l, of a shadow cast by a tree that is 53 feet tall. Round
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8 0
3 years ago
Find the sum of the geometric series 40 + 40(1.005) + 40(1.005)^2 + ⋯ + 40(1.005)^11.
KiRa [710]

Answer:

The sum is 493.4

Step-by-step explanation:

In order to find the value of the sum, you have to apply the geometric series formula, which is:

\sum_{i=1}^{n} ar^{i-1} = \frac{a(1-r^{n})}{1-r}

where i is the starting point, n is the number of terms, a is the first term and r is the common ratio.

The finite geometric series converges to the expression in the right side of the equation. Therefore, you don't need to calculate all the terms. You can use the expression directly.

In this case:

a=40

b= 1.005

n=12 (because the first term is 40 and the last term is 40(1.005)^11 )

Replacing in the formula:

\frac{a(1-r^{n})}{1-r} = \frac{40(1-1.005^{12})}{1-1.005}

Solving it:

The sum is 493.4

4 0
3 years ago
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