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leonid [27]
2 years ago
15

The following describe several different business organizations. Determine whether each description best refers to a sole propri

etorship (SP), partnership (P), corporation (C), or limited liability company (LLC). a. Micah and Nancy own Financial Services, which pays a business income tax. Micah and Nancy do not have personal responsibility for the debts of Financial Services. b. Riley and Kay own Speedy Packages, a courier service. Both are personally liable for the debts of the business. c. IBC Services does not have separate legal existence apart from the one person who owns it. d. Trent Company is owned by Trent Malone, who is personally liable for the company’s debts. e. Ownership of Zander Company is divided into 1,000 shares of stock. The company pays a business income tax. f. Physio Products does not pay income taxes and has one owner. The owner has unlimited lia-bility for business debt. g. AJ Company pays a business income tax and has two owners. h. Jeffy Auto is a separate legal entity from its owner, but it does not pay a business income tax.
Business
1 answer:
a_sh-v [17]2 years ago
3 0

People set up business due to different reasons. The answers are below;

  • Micah and Nancy kind of business is <u>Corporation</u>.
  • Riley and Kay are in <u>Partnership</u>
  • IBC Services are Sole <u>Proprietorship</u>
  • Trent Company as owned by Trent Malone is a <u>Sole </u>Proprietorship
  • Ownership of Zander Company is a type of <u>Corporation</u>
  • Physio Products of one owner is a <u>Sole </u>Proprietorship
  • AJ Company that has two owners is a <u>Corporation</u>

<h3>What are the kinds of business?</h3>

There are found to be 4 main types of business organization in the world today. They are:

  • Sole proprietorship
  • Partnership
  • Corporation
  • Limited Liability Company

Conclusively, Business starters or entrepreneurs often consider the type of business structure that best suited their enterprise before making decisions.

Learn more about Kinds of Business from

brainly.com/question/3140091

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At willow financial consulting, employees are allowed to choose what time they start each workday, as long as they arrive betwee
Vesnalui [34]

The system in which employees can arrive and leave early is known as the Flexitime system.

<h3>What is the Flexitime system?</h3>

It is a system in which employees' flexible working timings are designed. they can start and finish work at the timings in which they are suitable.

The employees who work in this type of system are known as Flexi employees. It is considered to be the alternative to the traditional 9 to 5 working system

Some of the advantages of the flexitime system is :

  • Better working environment
  • The confidence of the employees is boosted up
  • benefits In terms of pay  and leaves
  • stress is reduced

So, at willow financial consulting flexitime system is followed by the employees.

learn more about the flexitime system:

brainly.com/question/7984268

#SPJ1

5 0
2 years ago
The investment most affected by local conditions is:
devlian [24]
The investment most affected by local conditions is A. REAL ESTATE.

Real Estate is affected by the local conditions because the properties are located locally. So, whatever happens in their locale will greatly affect said properties.

For example:

The local government passed some mandate over selling of properties in the city. Because the property you are selling is within the local government's jurisdiction, your real estate business is affected.

Savings accounts, mutual funds, treasury bills are not dependent on local conditions. They are affected on how the market performs as a whole (national level or international level).


5 0
2 years ago
What is a corporation?
Vilka [71]

Answer: I Honestly think the answers D.

Explanation:

3 0
3 years ago
Read 2 more answers
What is Advertising , according to the American Marketing Association​
Alexus [3.1K]

American Marketing Association recognizes the term advertising as – any paid form of non- personal presentation and promotion of ideas, goods and services by an identified sponsor. ... Advertising is a non-personal form of communication because it uses mass media forms.

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2 years ago
The expense recognition (matching) principle requires that expenses (expenses/assets/liabilities) be recorded in the same accoun
Tju [1.3M]

Answer:

Expenses ; revenues ; adjusting

Explanation:

According to the expense recognition or matching principle, the expenses that are incurred in a particular period should be matched with the revenues that are earned in that particular period.

This principle major part is of the adjustments so that the adjustment entries are passed so that the financial statements represents the true and fair view to the users of the accounting information

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