1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SIZIF [17.4K]
3 years ago
8

There are only four legal structures to form and operate a business.TrueFalse

Business
1 answer:
coldgirl [10]3 years ago
6 0

Answer:

The above statement is false.

Explanation:

The most common legal structure of business are as follows:

Sole proprietor : It is a form of business in which a business is fully controlled by only one person. He takes all the decision himself . He has unlimited liability. His personal assets are used by the creditors to recover their money

Partnership: It is a form of business in which minimum 2 person come together to form a partnership firm. They share profit and loss as agreed between them. They have a partnership deed . Every partner have unlimited liability .

Limited liability Partnership : This form is recently introduced. This form come under the limited liability 2008. It has separate legal entity.

Corporation: A corporation has a independent legal entity, separate from its owners and has different tax calculation than other structure. The owner of the corporation has limited liability upto their share in corporation

S-Corporation: This business structure is more simple than corporation. It is more beneficial for small owners and also have some tax benefits. S Corporation can also cash accounting system rather than accural method of accounting.  

Thus, the statement is false that the legal structure of business is only four.

You might be interested in
Ajax is reviewing its previous 100% acquisition of Baxter to determine if there is goodwill impairment. At December 31, 2020 Aja
Sedaia [141]

Answer:

Baxter

The amount of the Goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020 is:

= $130,000.

Explanation:

a) Data and Calculations:

Recorded Goodwill = $330,000

Book value of net assets = $400,000

Book value of all assets = $730,000 ($400,000 + $330,000)

Estimated fair value of company = $600,000

Goodwill impairment = $130,000 ($730,000 - $600,000)

b) The Goodwill impairment of $130,000 arose when the book value or the carrying amount exceeded the estimated fair value.

7 0
2 years ago
The provisions of the Mayflower Compact would influence later documents
stealth61 [152]

Answer:

The provisions of the Mayflower Compact would influence later documents

like the Articles of Confederation. Which of the following is not a reason the

colonists created and signed the verry Mayflower Compact?

Explanation:

The provisions of the Mayflower Compact would influence later documents

like the Articles of Confederation. Which of the following is not a reason the

colonists created and signed the verry Mayflower Compact?

7 0
3 years ago
A small metal shop operates 10 hours each day, producing 100 parts/hour. If productivity were increased 20%, how many hours woul
ipn [44]

Answer:

The plant would have to work 8.33 hours

Explanation:

Initial productivity:

100 parts were produced in 1 hour

Percentage increase in productivity = 20%

New productivity:

100 + (100 × 0.2) = 100 + 20 = 120

120 parts would be produced in 1 hour

Number of hours the plant would have to work to produce 1000 parts = 1000/120 = 8.33 hours

3 0
3 years ago
Richard likes to smoke tobacco from a pipe. However, he is very particular about which pipes he uses. He will only buy pipes mad
katovenus [111]

The type of consumer product that this represent is: Specialty product.

<h3>What is specialty product?</h3>

A specialty product is a consumer product that a person tend to buy or purchase because the product are specially made or because the buyer like the unique features of the product.

A consumer may choose to spend heavily on a product  that are more expensive or tend to  buy a particular products or brand because they like the product or because the product gives them what they want.

Inconclusion the type of consumer product that this represent is: Specialty product.

Learn more about specialty product here:brainly.com/question/7062667

8 0
2 years ago
Cost volume profit can be used to calculate the sales dollars or sale units needed to achieve a target profit. Which statement i
Elena-2011 [213]

Answer:

A. The only way to calculate the sales revenue needed to achieve a target profit is by using the formula provided in class

Explanation:

5 0
3 years ago
Other questions:
  • I need help with this
    14·1 answer
  • Information from observers should be used as a supplement to information from incumbents. Identify the statement that is most li
    12·1 answer
  • As a college senior, mason researched many companies before deciding on those he wanted to apply to. he searched particularly fo
    12·1 answer
  • How can using the Pen tool improve the quality of your presentation?
    11·1 answer
  • Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in
    7·1 answer
  • In what order should tasks in the writing process be completed
    10·1 answer
  • The reporting of net cash provided or used by operating activities that lists the major items of operating cash receipts, such a
    8·1 answer
  • The table shows a schedule of Igor's payment plan for a used car.
    9·1 answer
  • In america today, what percentage of individuals between the ages of 14 and 17 are in school?
    15·1 answer
  • You are working as a head of Human resource department in an oil company. The high ups of your company asked you to select 12 ex
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!