Option (d) the amount owed on a liability is correct.
Paying an amount on account reduces the amount owed on a liability.
<h3>What is liability?</h3>
- A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.
- There are various ways to define a liability's duration. The average duration (or mean term) of the liability is what is typically meant by the term "duration of liability" in actuarial valuation. In other terms, it refers to the typical rate of a liability's repayment.
- Liabilities can be used by businesses to increase liquidity if they are having cash flow issues. Most small and medium-sized enterprises lack the financial resources necessary to grow.
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Answer:
The correct answer is letter "D": all of the above.
Explanation:
Partnerships are forms of entities where the owners of the business or partners are unlimited liable. This means if the company is in debt the personal assets of the partners can be considered as part of the repayment. If one of the <em>partners retires, is removed, if a new partner is added </em>or <em>if one of them deceases</em>, the current partnership is dissolved or legally terminated.
Answer:
c. $1.0 million for Lopes and by $1.5 million for HomeMax.
Explanation:
If Lopes and HomeMax both wants to maximize their profits they should choose a strategy which is beneficial for both of them. If both choose to increase the size of store and parking lot this will bring them maximum returns according to the matrix. They will be Nash equilibrium state which is a stable state.
Answer:
C. An intermediary that makes goods convenient for businesses to
buy.
Explanation:
Wholesalers are businesses that buy finished products from manufacturers and sell them to retailers. They are members of the supply chain. Wholesalers buy goods in bulk, break the bulk, and sell them to retailers. In some instances, some wholesalers may sell directly to consumers.
Retailers are businesses that sell to end consumers. They are the primary customers to wholesalers. Therefore, wholesalers are intermediaries who sell to other businesses.
