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3 years ago

What is the difference between LLC and sole proprietor?

Business

1 answer:

oksano4ka [1.4K]3 years ago

7 0

Answer:

Explanation:

Sole proprietor: The sole proprietor is the owner of the company which runs the business individually without involving any other member.

Limited liability Company (LLC): The LLC is the company which has limited liability towards everything like - business expenses, obligations, etc.

The difference between these two is as follows:

1. Liability: The sole proprietor has unlimited liability whereas the LLC has limited liability

2. Ownership control: In the sole proprietorship, the single owner is there who is responsible for all the things but in the LLC it includes various employees, members, outsiders who are responsible for their task and control the business activities together.

3. The Number of owners: In a sole proprietorship, only one owner is there but in LLC, many owners can be there.

4. Existence of the entities: If the business owner dies than the proprietorship is not in existence whereas in the LLC the company is in existence whether someone dies or not because other peoples are there to take their position.

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grigory [225]

Answer:

The missing information in the question is;

The variable manufacturing cost per unit is $22 (including direct material,labor and variable overheads)

Explanation:

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4 years ago

The Terme Corporation is contemplating the purchase of new equipment, which may potentially increase revenues by 25%. Currently,

vekshin1

Answer:

The increase in gross profit is $12,374.93

Explanation:

The increase in sales due to purchasing this new equipment is 25% of current sales figure of $750,000

increase in sales=$750,000*25%=$187,500

variable cost on the increase in sales is 55%=$187500 *55%=$103,125

The annual depreciation charge on the new equipment=cost of the new equipment-salvage value/useful life

cost of the new equipment is $357,500.37

salvage value is $0

useful life of the new equipment is 5 years

annual depreciation charge=($357,500.37-$0)/5=$ 71,500.07

Increase/(decrease) in annual gross profit=$187,000-$103,125-$ 71,500.07 =$12,374.93

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3 years ago

In a business report, the conclusions present suggestions on how the problem might be solved Group of answer choices True False

Yuki888 [10]

Answer:

False

Explanation:

In a business report, the conclusions section explains what all the collected information means and summarizes the most important parts of the report.

While the recommendations section actually presents a list of suggestions and/or specific actions that should be taken.

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4 years ago

If a department that uses process costing starts the reporting period with 100,000 physical units that were 20% complete with re

iogann1982 [59]

Answer:

true

Explanation:

The equivalent units of production in respect of direct labor for the given scenario shall be determined through the following mentioned equation:

Equivalent units of direct labor=Number of physical units at start of the reporting period*Completion percentage with respect to direct labor

Equivalent units of direct labor=100,000*20%

=20,000 units

So based on the above calculation, the statement is true

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3 years ago

True and False

stich3 [128]

Answer:

The answer is TRUE...please follow me and brinlist me please.

Explanation:

<h2>FROM ✈︎Applyourknowledge</h2>

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3 years ago