Answer: (C) One advantage of an LLC is that its owner has only limited liabilities.
Explanation:
A Limited Liability Company (LLC) has the main advantage of its owners having only a limited liability when it comes to debts and liabilities. This is because the LLC is a bit of a mixture between a partnership and a corporation.
This mix results from the fact that LLCs are formed by partners but their personal assets will be separated from the business like in Corporations which means that in case of default, only the assets they brought into the business will be targeted.
Answer:
Correct Option is B) Rochester Income Increase, Reedsburg Income No effect
Explanation:
As per IFRS,
When a company holds share of any company up to 20% then it is an associate, and in this case Rochester holds only 15% and thus will increase its net income with dividend received. (Cost method is followed)
When a company holds more than 20 % and less than 50% then the equity method is followed until and unless major significance is not exercised, generally it is exercised. In that case equity method is followed, and any income received is adjusted from cost of investment, and do not form part of income.
Answer:
All of them.
Explanation:
Accounting systems are designed to show the increases and decreases in each financial statement item as a separate record. This record is called an account. In the T account, the debit is on the left and the credit is on the right.
The equity for credits and debits for each transaction is build into the accounting equation: assets = liabilities + equity. Because of this doble equality, this system is called double entry accounting system.
In balance sheet accounts:
-asset accounts debit for increases and credit for decreases.
-liability accounts debit for decreases and credit for increases.
-equity accounts debit for decreases and credit for increases.
Supply restricted program heavily reduce the amount of products that sold in the market (that mostly came from import) in order to increase the price and income for local business.
But one thing that needed to be considered is, when the price is increased, the demand for that product will decrease at the same time, so eventually the sellers will have to bring the price down again to increase the demand.
Answer:
D. determine any gaps between the skill sets of an employee and the level of skills required for the job position
