If this condition arises where a business can't able to pay it's debt, creditors can expect the owner to pay the debts with their personal assets of business is called- General Partnership or Sole Proprietorship.
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What is sole proprietorship?</h2>
A sole proprietorship is an unincorporated company that is run and owned by one person. This type of business structure is the simplest because there is no legal distinction between the owner and the business.
The proprietor or dealer who owns the business uses their legal identity to carry on business. By registering a trade name with their local authority, they can also decide to conduct business under a different name.
This kind of business is the least expensive to launch. Small enterprises, independent contractors, and other people who work for themselves frequently use it because of this.
When the business owner decides or upon their passing, a sole proprietorship starts and ends.
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Answer:
A. creating the company income statement.
Explanation:
The creation of the companie's income statement is not within the scope of an operation manager's role.
It is a function of the accounting department, and shows the financial position at a particular point in time. Income statements are prepared in relation to profit and loss that the company is making. It shows a snap-shot of financial position so that management can make informed business decisions.
Answer:
70 days
Explanation:
For computing the number of days first we have to determine the credit turnover ratio which is shown below:
Credit turnover ratio is
= (Cost of Goods Sold ÷ Average accounts payable)
= ($45,021 ÷ $8,583)
= 5.245 times
Now the number of days is
= Total number of days in a year ÷ credit turnover ratio
= 365 ÷ 5.245
= 70 days
Decreasing their product mix.
If a company cannot meet their strategic goals for a product they may decide to stop the sale and production of that item all together to focus resources on better-performing goods.
Answer:A proper office layout is the key to a high performance office. This means both good performance from your employees but also your business. Companies that have a great culture are highly sought after by prospective employees and can provide a competitive advantage in both hiring and retaining staff.
Explanation: