Answer:
sole proprietorship and partnership
Explanation:
They both have unlimited personal liability
Answer:
the contract is a. void.
Explanation:
this is because Huck has been declared as mentally incompetent by the court and that can only be changed by the court as well. so, when he agrees to sell and create a contract, it becomes void, no matter the value is or how closely it relates to the market value.
if it was Inez who came into the contract, then the contract would have been legally binding.
Answer:
The ending cash account balance for Apricot Inc is $8,297.
Explanation:
There are three components in the statement of cash flows:
- Operating activities - Here, non-cash items applied to deriving the net income based on the accrual basis are adjusted for. Also, the movement in working capital and liabilities are accounted for.
- Investing activities encompass the assets purchased to generate the net income.
- Financing activities: These include activities that are geared towards improving the capital structure of the organization.
In deriving the cash flows at the end of the period, the balances in the activities above are added up, either outflow or inflow. Then the addition is added to the beginning balance of cash flows. This is done below.
Net cash flow provided by operating activities $45,042
Net cash flow used in investing activities ($20,831)
Net cash flow used in financing activities ($27,997)
Beginning cash account balance $12,083
Ending cash account balance $8,297
Answer:
Zero economic profits in the long run.
Explanation:
In a perfect competition, firms are able to freely enter into, or exit a market.
As more and more firms enter the market, it causes an increase in supply in the long run, which<u> leads to a fall in prices and therefore profits, such that firms will start to earn normal profits or </u><u>zero economic profits.</u>
