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Crazy boy [7]
3 years ago
14

Max chose to operate his production studio as a sole proprietorship even though his attorney cautioned that he was:____________

Business
1 answer:
sergij07 [2.7K]3 years ago
8 0

Answer:

<u>c. exposing himself to unlimited personal liability.</u>

Explanation:

One major characteristic of sole proprietorship being the individual is sole recipient of profits and sole bearer of all risks and liabilities.

A sole proprietor bears unlimited liability in the sense that, in case of bankruptcy, the proprietor's personal assets can be taken away to repay debts owed by him.

Though a proprietor also remains the sole recipient of all gains, similarly the proprietor is also exposed to unlimited risk.

Thus, the correct option is, c. exposing himself to unlimited personal liability   .

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Tax planning Question 6 options: guides investment activities to maximize after-tax returns over the long term for an acceptable
krok68 [10]

Answer:

guides investment activities to maximize after-tax returns over the long term for an acceptable level of risk

Explanation:

Given that the purpose of Tax planning is to ensure that there is tax efficiency for the firm, in an after-tax evaluation, the goal of the firm in terms of returns or profits is toll achieved.

Hence, in this case, the correct answer to the question is that TAX PLANNING "guides investment activities to maximize after-tax returns over the long term for an acceptable level of risk."

8 0
3 years ago
If at the end of the fiscal year, the variances from standard are significant, the variances should be transferred to the a.work
BaLLatris [955]

If,at the end of the fiscal year, the conflicts from the standard are significant the disagreements should be transferred to the work in process account.

<h3>Variance In Fiscal Year</h3>

The fiscal year variant includes the number of assigning periods in the fiscal year and the number of unique periods. One can wait year in the Controlling component (CO).

<h3>Work In Process Account </h3>

Work in progress analysis involves following the amount of WIP in commodities at the end of an accounting span and allocating a cost to it for inventory valuation objectives, based on the percentage of consummation of the WIP items.

#SPJ5

For further detail visit

<u>brainly.com/question/15875620</u>

3 0
2 years ago
You are selling a product on commission, at the rate of $1,000 per sale. To date, you have spent $800 promoting a particular pro
Vesnalui [34]

Answer:

Either you quit trying and lose $800 sunk, or you spend $800 for $1,600 total in which the Net from the sale of $1,000 would results in a loss of $600. That means it will be of good to lose $600 than $800.

Explanation:

Since $800 has been spent which means Spending up to an additional $1,000 is still reasonable, but a condition in which you know that the deal will definitely go through.

Secondly since you have already sunk $800, and you know that spending an additional $800 would guarantee it, you can do one among this two options which are either you stop trying and lose the $800 sunk, or you the spend $800 for $1,600($1,000+$600) total in which the Net from the sale of $1,000 would results in a loss of $600($1,000-$800=200,$800-$200=$600). That means it will be of good to lose $600 than $800.

4 0
3 years ago
Read 2 more answers
Which of the following characteristics of prospective financial statements would require the practitioner to include in a report
DanielleElmas [232]

Answer:

<h2>In this case,the answer would be option b) or They are considered as financial forecast.</h2>

Explanation:

  • Any prospective financial statements is a highly important and confidential document for any legitimate business organization  and should be prevented from being disclosed, especially to any external sources.
  • Therefore, it s treated or considered as only a general financial document especially when dealing with any party or individual with whom the concerned company or organization is not directly dealing with.
  • Hence, only an official financial reporting containing an overall financial forecast is sufficient for general use of the report with any related or unrelated party or individual.
4 0
3 years ago
Meena Distributors has an annual demand for an airport metal detector of 1 comma 360 units. The cost of a typical detector to Me
Nata [24]

Answer:

1. Meena should take the quantity discount since with such discount the EOQ will rise by just 1 unit from 20.5units to 21.5 units and a net gain of $49.18.

2. The EOQ without discount will be 20.5 units

Explanation:

EOQ=Square root of ((2xordering cost x demand)/ (Carrying cost))

Gains of accepting discount will be

i. ordering cost savings= (demand/quantity order) x ordering cost

                                       = (660/360)*23=$42.16

ii. Price saving per item=0.18 x 660       =$118.80

total gain                                                   =$160.96

iii. Stockholding cost   =300 x (23 x 0.91 ) x 0.18=$1,130.22

iv. Additional cost incurred by increasing order= 1,130.22-(300 x 23 x0.18)

  =$111.78

Net gain= 160.96-111.78

              = $49.18

7 0
3 years ago
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