In 2012,70%of rich people were self made in the USA.That is the updated answer in 2012.
Answer:
(b) Shane has to pay $20,000 to Morgan for breach of contract
Explanation:
In the situation, it is given that Shane decides to quit as he gets another job so he breaks the contract instead of finishing his work on time.
Due to breach of contract, Shane has to pay $20,000 to Morgan because it is written in the party that if any party breaks the contract than he has to pay the amount. But due to some unnatural causes, no one has to pay.
In the given case, Shane has deliberately broken the contract so it is compulsory to pay the $20,000 to Morgan.
Hence, option b is correct
Answer:
Net Income or Loss : a. 2019 = $53000 ; b. 2020 = $4000 loss ; c. 2021 = $43000
Explanation:
Assets - Liabilities = Capital (Closing/Opening)
458000 - 317000 = 141000 (2019 Closing Capital)
Profit = Closing Capital - Opening Capital + Drawings - Additional Capital
A. 2019 Opening Capital = 100000 (Given)
2019 Closing Capital = A - L = 458000 - 317000 = 141000
2019 Profit = CC - OC - D + AC = 141000 - 100000 + 12000 = 53000
B. 2020 opening capital = 2019 Closing Capital = 141000
2020 closing capital = A - L = 538000 - 367000 = 171000
2020 Profit = CC - OC + D - AC = 171000 - 141000 - 34000 = 4000 Loss
C. 2021 opening capital = 2020 closing capital = 171000
2021 closing capital = A - L = 668000 - 467000 = 201000
2021 Profit = CC - OC + D - AC = 201000 - 171000 + 25000 - 12000 = 43000
Answer:
conglomerate
Explanation:
In simple words, A conglomerate refers to the multi-industry corporation, which is a mixture of many enterprises operating within one organizational group in completely different sectors, which can include a holding company and several branches.
The conglomerates are always global and massive. The predominant conglomerates consolidate financial risk through investing in a variety of different industries, although other conglomerates opt to engage in a single sector, like those in mines.
