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3 years ago

Forms of business organizations

Business

1 answer:

Ymorist [56]3 years ago

6 0

Answer:

Forms of business organizations

1. Characteristics that would apply to a limited liability company and a limited liability partnership:

F. Limited financial liability

2. Business Scenario and Type of Business

a. Selena and Mario run a law firm in Chicago. LLC/LLP . The firm has debt of $100,000, but Selena and Mario will not be held personally liable for the law firm's debt. Limited Liability Partnership

b. Chris, the CEo of a beverage company, is Sole Proprietorship

required to certify the accuracy of information Corporation Partnership

provided in the company's quarterly reports LLC/LLP

c. Brandon started a business, based in a different state, with his uncle. Due to the business's under- performance, they had to close the business. Brandon, however, ended up losing his house due to a litigation claim. Partnership

d. Richard founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death. Sole Proprietorship

Explanation:

A sole proprietorship is owned by one person without the advantage of being registered as a company (LLC). A partnership is a business organization owned by more than one person without the advantage of limited liability of the partners or being registered as a company (LLC). A corporation is an incorporated business organization with limited liability for the shareholders. Limited liability company (LLC) is a corporation that is owned by individuals with the advantage of limited liability. A limited liability partnership (LLP) is a partnership or business organization owned by more than one person which enjoys limited liability.

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The process of dividing the potential market into sub-markets with common needs and features is called:________

chubhunter [2.5K]

Answer:

The correct answer is A. Market Segmentation.

Explanation:

The process of dividing the potential market into sub-markets with common needs and features is called market segmentation. The segments created are composed of consumers who will respond similarly to marketing strategies and who share simialr traits.

For example, common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral.

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3 years ago

Matthew Granger is a member of the board of directors at Produxicore Inc. Over a period of one year, Matthew failed to attend mo

FrozenT [24]

Answer: Negligence of duties

Explanation:

As a board member it's one of his primary duty to keep abreast of the firm performance. Not been aware for a year on the excuse of not been informed and not seeking to find out personally shows a negligence of duties.

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4 years ago

At the beginning of the year, Sheridan Company had total assets of $845,000 and total liabilities of $600,000. (Treat each item

zlopas [31]

Answer:

A. Stockholders equity at the end is $493,000.

B. Closing total assets is $865,000.

C. Closing liability is $410,000.

Explanation:

A. Closing total assets:

= Opening assets + increase in assets

= $845,000 + $177,000

= $1,022,000

Closing liability:

= Opening liability - Decrease in liability

= $600,000 - $71,000

= $529,000

Closing equity:

= Closing assets - Closing liability

= $1,022,000 - $529,000

= $493,000

B. Opening equity:

= Opening assets - Opening liability

= $845,000 - $600,000

= $245,000

Closing assets:

= Opening assets + increase in liability - Decrease in equity

= $845,000 + $92,000 - $72,000

= $865,000

C. Closing liability:

= Opening liability - decrease in assets - increase in equity

= $600,000 - $90,000 - $100,000

= $410,000

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3 years ago

When an economy is operating efficiently, the production of one more unit of a good will result in some loss of production of an

s344n2d4d5 [400]

Answer:

a) resources are limited and efficiency implies that all resources are already in use

Explanation:

If production is efficient, it means that the economy is producing on the production possibility frontier and all resources are in use.

To produce one unit of a good, the economy has to forgo producing one unit of the other good.

I hope my answer helps you.

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3 years ago

For the current year, Harry reported salary and taxable interest income of $50,000. His capital asset transactions during the ye

NeTakaya

Answer:

adjusted gross income = $47,000

Explanation:

ordinary income = $50,000

capital losses = $1,000 - $5,000 = -$4,000

but the IRS limits the amount of capital losses than can offset ordinary income to $3,000 per year. The remaining $1,000 will be carried forward.

AGI = $50,000 - $3,000 = $47,000

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3 years ago