Answer:
Susan is owning a business and this type of ownership is called Sole proprietorship.
Explanation:
In the question the details which are provided are:
Susan is owning a business and she is operating a large restaurant in Dallas which is giving employment to about fifty people there.
She has also kept two managers for assisting her in the restaurant work and she delegates some decision making from them too but the ownership remains only with her.
So, this form of business ownership is called sole proprietorship.
Sole proprietorship: It is the simplest and easiest way of starting a business of one's own. In this type of unincorporated business the business is owned and run by a single member or individual.
It does not deals with the legal contracts between the business entities and any individual.
Examples: It constitutes of single person membership in the business.
So, the businesses like a grocery store, food mart, or restaurants can be their examples.
In this type of business as soon as we start providing the services to the other people thatis named as sole proprietorship.
Answer:
Self Employed
Explanation:
Self employed is the person who not working under someone and is independent to work or is owner of the business. In this case, Glenn is owner of his shop and is working for his own business not for someone else so he is self-employed. Another examples of self employed are freelancers, shopkeepers (who own the business), owner of utensil stores, etc.
In simple words the owner of the business is self employed.
Answer: $3,826
Explanation:
Discount received on terms 2/10 = (Purchase value – Cost of merchandise returned) x Discount Rate
= $4,000 - $300 x 2%
= $3,700 x 2%
= $74
if the company paid the invoice within the discount period, Then the total cost of this merchandise
Total cost of merchandise = Value of merchandise purchased– Cost of merchandise returned + Transportation Costs - Amount of discount received
= $4,000 - $300 + $200 - $74
= $3,826
Answer:
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False, opportunity cost is what you have to give up in order to obtain a good.
Example:
You have 30 minutes to either read a book or nap. You choose to read a book. You're opportunity cost is the 30 minutes you could have spent sleeping.