Answer:
aye congrats on passing!! im doing my finals rn im super stressed lol
Answer:
Owners have limited liability.
Explanation:
A corporation is an entity , established by shareholders or individuals with the aim of making profit. It is a legal entity hence can enter into a contract, can also sue and be sued.
The legal process involved in the establishment of corporation is called incorporation. It contains the main reason why the corporation is in business, name and office address, types and number of shares to be issued.
Because the business is incorporated and also a legal entity, it means that the owners are protected personally should their be any litigation against the corporation. Moreover, the liability of the owners are limited to the investment in the corporation.
Answer:
Expense must be recognized in July
Explanation:
The reason is that the expense must be recognized in the month in which the supplies are used because the accrual concept says that the expenses must be realized when they are incurred. Incurred means that the consideration received has been used. For example if I pay the telecommunication network in June to give 4G internet and the services are delivered in the month July then the expenses will be realized in the month in which the services were used and that is July for internet facilities. So in this case the supplies are used in the month of July which is in-accordance with the accrual concept.
Answer:
Christie 's share = $ 37759.09
Jergens Share = $ 47,441
Explanation:
Partner's Profit share are calculated after the deduction of salary or any other interest incomes.
Profit for the current year = $ 163,000
Christie' s Salary $ 69,000
Christie Interest Income $ 3900
10 % 0f $ 390,000
Jergens Interest Income $ 4900
10 % 0f $ 490,000
Profit Balance $ 85,200
Profit Sharing Ratio
Christie : Jergens
390,000: 490,000
39: 49
Christie 's share = $ 85,200 * 39/88= $ 37759.09
Jergens Share = $ 85,200 * 49/88= 47440.9= $ 47,441
Answer:
True
Explanation:
This is true because the Federal Trade commission(FTC) analyze and investigate a seller or sellers who may be so cooperative as to make agreements that ensure large amounts of profit for them which is likely harmful and exploitative to consumers . FTC investigates business mergers which may be horizontal or vertical that are likely done for the purpose of increasing market share and fostering a sort of monopoly of the market. However, mergers and cooperation among businesses in the market do not always yield a monopoly and the FTC may be wrong(sometimes) to wave mergers that could increase the quality of goods or services in a market
