<u>Full question:</u>
Joel and Mike would like to start a new business selling a product new to the U.S., the Peraves Monotracer. Joel and Mike have done a considerable amount of research on this product, and think it would be successful in the U.S. However, they are still concerned about the risk of a new venture and both would like to avoid losing any personal assets. They should organize their firm as a
Multiple Choice
corporation.
limited partnership.
general partnership.
sole proprietorship.
<u>Answer:</u>
They should organize their firm as a
corporation.
<u>Explanation:</u>
A corporation is a kind of business process that represents the business as a separate, legitimate entity managed by a group of directors identified as the board of directors.
An essential component of a corporation is confined liability, which indicates that shareholders may practice share in the profits by dividends and stock recognition but are not individually responsible for the company's shares. A corporation's purposes can be for-profit or not, as with donations. Still, the huge preponderance of corporations intends to afford a return for its shareholders.
Answer:
The answer is "The end of the Ice Age."
Explanation:
Answer:
$890
Explanation:
With respective to tax perspective, the following items are not available for deductions which are shown below:
1. Union dues and work uniforms
2. Home office expenses
3. Unreimbursed employee expenses
The gambling losses are extent to the gambling winnings i.e $890 is available for the itemized deductions. The 2% rate is not applicable.
Answer:
Oct 1 Cash $37000 Dr
Common Stock $37000 Cr
Oct 3 Equipment Account $4400 Dr
Accounts Payable $4400 Cr
Oct 6 Accounts Receivable $10500 Dr
Commission Revenue $10500 Cr
Oct 10 Cash $190 Dr
Commission Revenue $190 Cr
Oct 27 Accounts Payable $880 Dr
Cash $880 Cr
Oct 30 Salary Expense $3000 Dr
Cash $3000 Cr
Explanation:
The event on October 2 of hiring an administravtive assistant is not a financial event so it will not be recoreded and journalized. All the other transactions are recorded and journalized.
Answer:
c) whether the product is available when the customer wants it.
Explanation:
Inventory management refers to maintaining adequate levels of products with the goal of keeping the costs low. However, how the inventory is managed has an important effect in customer service because you need to have a good level of inventory that allows you to keep the customer happy by having the products available when they want them.
