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2 years ago

3. State the difference between limited liability and unlimited liability?

Business

1 answer:

Crank2 years ago

3 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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4. if you have two children, ages 2 and 4, how much should you record in step 3 of the form? (3 points)

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1 year ago

J Crane, Ltd. is a local coat retailer. The store’s accountant prepared the following income statement for the month ended Janua

kari74 [83]

Answer:

J Crane, Ltd

Contribution Margin Income Statement

For the Month ended January 31 YY

$ $

Sales revenue 750,000

Less Variable cost :

Cost of goods sold 300,000

Selling expenses 19,500

Admin Expense 37,500

357,000

Contribution Margin 393,000

Less Fixed cost :

Selling expense 4,060

Administrative expense 12,000

16,060

Net income 376,940

Working:

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Fixed cost:

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3 years ago

3. State the difference between limited liability and unlimited liability?​

3. State the difference between limited liability and unlimited liability?