"Nepal has a great potentiality of operating local level Industries." Justify this statement with suitable example.

Benefit corporations differ from traditional corporations in three main ways. The main purpose is to benefit the ___ , so direct

MAXImum [283]

Here are the complete sentences:

The main purpose is to benefit the PUBLIC, so the directors must consider the impacts of their decisions on society and the ENVIRONMENT. Shareholders have an additional right to private action called a DERIVATIVE SUIT, that allow them to sue the corporation for failure to pursue the purpose. Finally, benefit corporations must issue an annual BENEFIT REPORT on its performance and include a third party standard of assessment.

Explanation:

A Benefit corporation refers to a type of corporation that is established to create value for both the society and the environment in which it is located. Although, one of the goal of the company is to make profits, it differs from a traditional corporation because, it is main purpose it to add value and provide benefits for those that are connected to it.

Thus, the major purpose of a benefit corporation is to add values to the public and the environment. In order to ensure that this goal is kept in view, the corporation has to publish benefit report every year, in order to show their performance and their adherence to the company goals. The report must be endorsed by a third party in order to show that its contents are true and accurate.

Learn more about corporation on: brainly.com/question/12293968.

#learnwithBrainly.

6 0

3 years ago

Read 2 more answers

The Canon Corporation sells ten copiers to the Title Company on October 15 for $40,000. Canon delivers the copiers to Title on O

elena-14-01-66 [18.8K]

Answer:

$0

Explanation:

In this method, the transaction reporting will be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.

Once the expenditure is incurred or the revenues is earned the same is to be recorded in the books of accounts whether cash paid or not and in case of revenues whether cash received or not

In the given case, the Canon corporation sells on October 15 so it would be recorded on October itself .

Therefore, no revenue would be recognized on the month of November

3 0

3 years ago

Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Co. for

Kryger [21]

Answer:

Eller Equipment Co.

Income statement

Particular Amount($) Amount ($)

Sales revenue 940,000

Less: Cost of good sold (595,000)

Gross margin 345,000

Operating expenses

Salaries expenses 122,000

Operating expenses 65,000

Warranty expenses 9,200

Un-collectible account expenses 45,000

Depreciation expenses 3,000

Total operating expenses (244,200)

Operating income 100,800

Non-operating expenses

Interest revenue 6,200

Interest expenses (36,000)

Gain on sale of equipment 19,000

Total non-operating items (10,800)

Net Income $90,000

Balance Sheet

Assets Amount$

Current Assets

Cash 41,000

Accounts receivable 108,000

Less: Allowance for doubtful (19,000) 89,000

accounts

Merchandise inventory 101,000

Interest receivable 3600

Prepaid rent 38,000

Supplies 6,500

Notes receivable 32,500

Total current assets 311,600

Property Plant and Equipment

Equipment 243,000

Less: Accumulated depreciation (66,000) 177,000

Land 95,000

Total property plant and equipment 272,000

Total Assets 583,600

Liabilities and Stockholder Equity

Current liabilities

Account payable 55,000

Unearned revenue 47,000

Warranties payable 6,500

Interest payable 6,000

Salaries payable 68,000

Total current liabilities 182,500

Long-term liabilities

Notes payable 160,000

Total long-term liabilities 160,000

Stockholders equity

Common stock 110,000

Retained earning 131,100

Total stockholders equity 241,100

Total liabilities and stockholders equity $583,600

Workings

Retained earning = Beginning retained earning + Net income - Dividend

= 61,100 + 90,000 - 20,000

= 131,100

5 0

3 years ago

How would utility costs be properly classified? Select one: A. Curvilinear B. Fixed C. Variable D. Stepped E. Mixed

ANTONII [103]

Answer: Mixed

Explanation:

Here is the complete question:

Max Machining incurs the following utilities costs at different levels of production:

0 units: $120

500 units: $2,620

1,000 units: $5,120

How would utility costs be properly classified?

A) Curvilinear

B) Variable

C) Mixed

D) Fixed

E) Stepped

The utility cost here will be classified as a mixed cost. A mixed cost is a type of cost that has both fixed and variable cost. At 0 units, $120 was already spent. This shows that this cost is a fixed cost as it doesn't have anything to do with output. It'll still be paid regardless of the number of outputs while the other cost incurred are variable cost which is dependent on the number of outputs of goods.

Based on the explanation above, the answer is mixed cost.

3 0

3 years ago

The market for insurance is one example of reducing risk by using diversification.

Maurinko [17]

The correct answer for this question is a. True. Hope this helps you fulfill your desires.

4 0

3 years ago

"Nepal has a great potentiality of operating local level Industries." Justify this statement with suitable example.​

"Nepal has a great potentiality of operating local level Industries." Justify this statement with suitable example.