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3 years ago

Which of the following is a disadvantage of the corporation form of ownership?

Business

1 answer:

Hoochie [10]3 years ago

5 0

Answer:

Option C, Double taxation on profits and individuals

Explanation:

The disadvantages of the corporation form of ownership are as follows -

a) It takes lot of time and hence is time consuming

b) The taxation gets double

c) Also, the formalities/protocols are very tough

Hence, the option C is correct

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Marciano Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds pe

kondor19780726 [428]

Answer:

Debit Raw Materials Inventory with $72,000; Credit Direct materials Cost Variance with 28,200, and Credit Accounts Payable with $43,800.

Explanation:

Direct materials purchase on account = $43,800

Standard cost of direct materials = 12,000 * $6 = $72,000

Direct materials cost variance = $72,000 - $43,800 = $28,200

The journal entries will therefore be as follows:

Details Dr ($) Cr ($)

Raw Materials Inventory 72,000

Direct materials Cost Variance 28,200

Accounts Payable 43,800

To record direct materials cost and variance.

7 0

4 years ago

Which statement shows that money is a "measure of value?"

Talja [164]

O the more features it has, the more it is worth

4 0

2 years ago

Rick's wholesale office supplies prefers to handle its accounts receivable itself, but it also needs to use them to facilitate s

o-na [289]

The best way for Rick to handle this situation is to pledge them as a collateral so that it is a way of having them pledge in terms of arrangement in payment and that will benefit Rick and have the assurance that both methods used will still be their of advantage and would give them the upper hand or authority.

3 0

4 years ago

A company received a bill for newspaper advertising services received, $400. The bill will be paid in 10 days. How would the tra

Aleksandr-060686 [28]

Debit Advertising expense $400, credit accounts payable 400.

6 0

4 years ago

A farmer grows wheat and sells it to a miller for $1; the miller turns the wheat into flour and sells it to a baker for $3; the

Serga [27]

Given:

Farmer's price = $1

Miller's price = $3

Baker's price = $6

To find:

The value added by the miller

Solution:

From the given, we can interpret that after purchasing from the farmer, the miller turns the wheat into flour by grinding and he sells the wheat flour to the baker.

This means that the miller added the cost of grinding with the purchasing cost. We can calculate the cost added by miller by subtracting the farmer's price from the miller's price that is $\$3-\$1=\$2$

Therefore, the value added by the miller is $2.

4 0

3 years ago