Orson has probably committed the tort of conversion unless he can show that <u>"Harrison does not really own the car."</u>
Conversion is an intentional tort comprising of taking with the goal of practicing over the property a proprietorship conflicting with the genuine proprietor's privilege of possession". In the United Kingdom, it is a tort of strict liability. Its counterparts in criminal law incorporate robbery or burglary and criminal change. In those wards that remember it, criminal transformation is a lesser wrongdoing than burglary/theft.
Answer:
the current asset for Jones company is $80,800
Explanation:
The computation of the current asset is shown below
Current Assets = Cash + Accounts Receivable+ Prepaid Insurance
= $47,000 + $24,000 + $9,800
= $80,800
hence, the current asset for Jones company is $80,800
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer: $75,000
Explanation:
Net Cash inflow refers to the actual cash that came into the company less the cash that went out.
Net cash inflow = Cash inflow - Cash outflow
= Cash from sales + Cash from receivables collection - cash wages
= 70,000 + 35,000 - 30,000
= $75,000
Answer:
TRUE
Interest income received by a cash basis taxpayer is generally reported in the tax year it is received.
Answer:
generally receives favorable tax treatment relative to a corporation.
Explanation:
The sole proprietorship is the business organization in which the business is controlled by single person only. The business records would be separated with the owner personal records in this type of business also it would not be classified as a separate legal entity just like corporation
But in this it received the favorable tax treatment as compared with the corporation
