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2 years ago

What is the difference between limited liability and unlimited liability

Business

1 answer:

SOVA2 [1]2 years ago

5 0

Answer:

Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.

Explanation:

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Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2021 are as follows:

Lynna [10]

Answer:

Ending inventory : $868

Explanation:

FIFO (First-In-First-Out) is a method of inventory valuation where the inventory that is received first is sold first. In other words, the earliest inventory is used first. This is common for perishable inventory such as fruits and vegetables which if not used fast, will be wasted.

01/01/21 : Beginning Inventory : 200 units x $5 = $1000

01/15/21 : Purchases : 100 units x $5.3 = $530

01/28/21 : Purchases : 100 units x $5.5 = $550

Total units = 200 + 100 + 100 = 400 units

Units sold = Total inventory available for sale - ending inventory

= 400 - 160 = 240 units.

COGS:

Beginning Inventory : 200 units x $5 = $1000

Purchases : 40 units x $5.3 = $212

Cost of goods sold : $1000 + $212 = $1212

Ending inventory:

Purchases : (100 - 40) units x $5.3 = $318

Purchases : 100 units x $5.5 = $550

Ending inventory : $318 + $550 = $868

6 0

3 years ago

Which of these gives companies an anticompetitive impulse? consumer behavior the profit motive market research efficiency

Evgen [1.6K]

Answer:

The profit motive

Explanation:

Although the <em>profit motive</em> is essential and common among all businesses that exist, it is by nature anti-competitive, meaning it is not a trait used to create substantial competitive advantage. It is a notion that will certainly not attract customers. However, it is always present (and most customers know that), but the profit motive will never be communicated through mrketing activities etc.

3 0

3 years ago

Read 2 more answers

What are the profound and philosophical goals and benefits of a modern industrial society, according to Frederick Winslow Taylor

netineya [11]

Explanation:

The greatest objective and benefit of a modern industrial society according to Taylor was the transformation of management into a science, which should maintain the standardization of administrative processes in order to reduce production time and maintain the quality of work.

He developed the rational organization of work, a tool for researching human labor conditions, such as division of labor, specialization, standardization, supervision, salary incentives, etc., whose aim was to analyze how such factors influence productivity and the quality with which a worker perceives and performs his work.

The benefits of Taylor's management model were reduced working hours, perceived employee appreciation, reduced costs, improved organizational environment, etc.

5 0

3 years ago

After the accountant of Stallone Retailers had prepared the financial statements for the year ended 31 December Year 6, the fol

n200080 [17]

The adjusted profit of Stallone Retailers for the year ended December 31, Year 6 is £115,400.

Data Analysis:

1. Motor Van £8,000 Motor running expense £8,000

Depreciation expense £1,600 Accumulated depreciation £1,600 ( £8,000 x 20%)

2. Cost of goods sold £3,000 Inventory £3,000

3. Drawings £4,000 Inventory £4,000

4. Loan £2,200 Cash £2,200

<u>Adjustment of Profit</u>

Profit before the errors £112,000

Adjustments:

Motor running expense £8,000

Depreciation expense (£1,600)

Cost of goods sold (£3,000)

Adjusted profit £115,400

Thus, the adjusted profit is now £115,400.

Learn more: brainly.com/question/3816206

4 0

2 years ago

Senior management at jmj manufacturing accept that there are differences and similarities between host country and home country

Bumek [7]

This reflects geocentric attitude.

The World Trade Organization (WTO) is the only global international organization addressing manufacturing the principles of trade between nations. The North American trade Agreement (NAFTA) was implemented to market trade between the U.S., Canada, and Mexico.

A company's employees, managers and board of directors compose a business's internal stakeholders. Employees of the manufacturing corporation are invested within the company's performance to make sure they still be paid and retain their jobs.

The Agreement Establishing the WTO recognizes the necessity for positive efforts to make sure that developing countries, and particularly those who are least-developed, share within the growth of international trade.

They make it easier for nations to try and do business. They increase product choices for consumers. They prevent two nations from exchanging manufacturing goods. Better risk management. One among the many advantages of international trade is market diversification.

learn more about manufacturing: brainly.com/question/19584679

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7 0

1 year ago