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babunello [35]
3 years ago
9

Identify and explain two drawbacks to Jameel of operating his business as a sole trader

Business
1 answer:
PolarNik [594]3 years ago
6 0
<h2>List Two Disadvantages of Sole Proprietorship & Explain Them.</h2>

▪︎Unlimited Liability

- The main factor being that there is no limit on the debt that can be accumulated. Which can cause the business to become insolvent very quickly.

- This means that even personal assets are allowed to be repossessed by the bank.

▪︎Single Person Tax

- The main factor being that you will be taxed as a separate entity, therefore doubling the total expenses. You must now, pay tax for your personal life & for your work life.

- This can become extremely expensive & turn into a less profitable business.

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The video says only a handful of companies make eyeglasses and they mark them up 10 or 20 or more times. Markup pricing is best
Alborosie

Answer:

Option A: Adding a predetermined percentage of the cost to the cost of the product

Explanation:

Price

This is simply refered to as money or other thing that ia used i exchanged for the right, ownership or use of a good or service.

Markup

This is commonly defined as thd difference between the cost price and the selling price of an goods or services that the business gives. it is the dollar amount listed or added to the cost of products to get the selling price. It is fondly called Gross Profit , Markup Margin or Margin, Gross Margin.

Standard Markup Pricing

This is the difference between selling price and cost. It is usually called as a percentage of cost.

The need for a markup is that business gather up expenses in order to be in a position to sell goods or services, and the markup covers these expenses and other factors

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3 years ago
Quizlet Other things the same, when the price level rises more than expected, some firms will havea.higher than desired prices,
Dafna1 [17]

Answer:

C) Lower than desired prices, which increases their sales.

Explanation:

7 0
3 years ago
How is healthcare an economic issue?
satela [25.4K]

health care coverage

4 0
3 years ago
Read 2 more answers
Assume a machine that has a useful life of only one year costs $2,000. Assume, also, that net of such operating costs as power,
VashaNatasha [74]

Answer:

D. 15 percent

Explanation:

Cost of the machine =  $2,000

Having considered operating costs as power, taxes, and so forth, the additional revenue from the output of this machine is expected to be $2,300

Expected return = $2,300 -  $2,000

                           =  $300

Therefore, the rate of returns

= Returns/cost

=300/2000

= 0.15

In Percentage, 15%. The expected rate of return on this machine is 15%

7 0
4 years ago
Kevin Hall is saving for an Australian vacation in three years. He estimates that he will need $5,920 to cover his airfare and a
andrew11 [14]

Answer:

$1,779.90

Explanation:

Formula for finding the amount he has to save, this formula would be used :

Amount = FV / annuity factor

Annuity factor = [(1 + r)^n - 1 / r]

FV = Future value = $5920

n = number of years = 3

i = interest rate = 10.5

Annuity factor = (1.105^3 - 1 ) / 0.105 = 3.326025

$5920 /  3.326025 = $1,779.90

4 0
4 years ago
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