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Shtirlitz [24]
3 years ago
12

What does the concept of limited liability posits?​

Business
1 answer:
Maksim231197 [3]3 years ago
3 0

Answer:

see below

Explanation:

The concept of limited liability is a confirmation that a corporation's assets are liabilities are distinct from those of shareholders. The concepts safeguard the shareholder's private properties should a business fail to meet its obligations.

Limited liability states that the liabilities of a shareholder is limited to the extent of his capital contribution. If the event of a dissolution, a shareholder's losses are capped to the share contribution. Their personal properties cannot be used to pay business debts should the business's assets be inadequate.

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Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $70,000 and $3,600, r
tatyana61 [14]

Answer:

Uncollectible account expense  $8,600

Explanation:

The computation of the amount as the Uncollectible Accounts Expense on its Year 2 income statement is given below:

Allowance account - Beg year 2    $3,600 Credit

Written off account   $6,600    Debited by

 Unadjusted balance in Allowance account  $3000  Debit

Adjusted balance required in Allowance account  $5,600  Credit

Uncollectible account expense  $8,600

6 0
2 years ago
Which of the following statements is false?
Paul [167]

Answer:

C

Explanation:

C. online retailing and in-store retailing experience similar rates of product return.

3 0
3 years ago
Your grandparents deposit $2,000 each year on your birthday, starting the day you are born, in an account that pays 7% interest
OverLord2011 [107]

Answer:

The money you will have is $98020.

Explanation:

It is given that grandparents deposit $2,000 each year on birthday and the account pays 7% interest compounded annually also the time is 21 years.

we will use the compound interest formula  A=P (1 + \frac{r}{100})^{t}.

For the first birthday the amount after 21 yr will be:

A=2000(1+\frac{7}{100})^{21}

Similarly for the second birthday amount after 20yr will be:

A=2000(1+\frac{7}{100})^{20}

likewise, the last compound will be:

A=2000(1+\frac{7}{100})^1

The total value of such compounding would be :

\text {Total amount}=2000(1+\frac{7}{100})^{21}+2000(1+\frac{7}{100})^{20}...2000(1+\frac{7}{100})^{1}

\text {Total amount}=2000[(1+\frac{7}{100})^{21}+(1+\frac{7}{100})^{20}...(1+\frac{7}{100})^{1}]

\text{Total amount} \approx 2000(48.01)

\text{Total amount} \approx 96020

The total amount just after your grandparents make their​ deposit  is:

≈($96020+2000)

≈$98020

Hence, the money you will have is $98020.

4 0
3 years ago
Which of the following goods is rival in consumption and excludable? a. a tornado siren b. a home c. the environment d. an uncon
algol13

Answer: d. An uncongested toll road

Explanation: it is not important

7 0
3 years ago
What is the term for a business owned by one person?
irakobra [83]

Answer:

Sole proprietorship

Explanation:

Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit. The owner operates the business alone and may hire employees.

8 0
3 years ago
Read 2 more answers
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