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2 years ago

Which form of business organization is established as a separate legal entity?

Business

1 answer:

densk [106]2 years ago

7 0

Answer:

Corporations

Corporations. A corporation is considered by law to be a unique entity, separate from those who own it. A corporation can be taxed, sued and enter into contractual agreements. The corporation has a life of its own and does not dissolve when ownership changes.

Explanation:

corporation

Unlike a sole proprietorship or general partnership, a corporation is a separate legal entity, separate and distinct from its owners. It can be created for a limited duration, or it can have perpetual existence

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Which of the following activities are prohibited by the Clayton Act when they lead to less competition? Each of these answers is

mariarad [96]

Answer: All of the Above

Explanation:

The Clayton Act of 1914 was passed to curb unfair business practices as well as to protect the rights of labour.

Some practices that were prohibited when they led to less competition include,

- A firm acquiring a major percentage of the stocks of a competing firm because this could signify an amalgamation of efforts on the part of both firms and they could therefore have some control over Pricing.

-A director from one business sitting on the board of a competing firm because this could lead to cooperating or Corperate espionage.

- A buyer is forced to buy multiple products from a producer in order to get a desired product is expressly forbidden.

5 0

3 years ago

their major products, the plastic container. Budgeted quantity Budgeted price Direct materials 0.25 pounds $30 per pound Direct

pshichka [43]

Answer:

Total Material cost variance $5,600 favorable

Explanation:

The direct matriculate total variance is he difference between the standard material cost for the actual output achieved and the actual material cost of the same output

Standard materiel cost per unit = 0.25 × $30 = $7.5 per unit

5,000 units should have cost (5000× $7.5) = 37,500

but did cost (actual cost 1,000 × $29 31,900

Total Material cost variance 5600 favorable

3 0

3 years ago

g A review of Parson Corporation's accounting records found that at a volume of 146,000 units, the variable and fixed cost per u

Ganezh [65]

Answer:

The total cost is $1,796,600

Explanation:

Fixed costs are costs that do not change with the change in the volume of good or service sols, but under certain circumstances, when the fixed cost is a direct cost, it can vary on a per unit basis.

Variable costs are costs that change with the change of the volume of goods or service.

Total number of units = 138,200

variable cost per unit = $8

Total variable cost = 8 × 138,200 = 1,105,600

Fixed cost per unit = $5

Total fixed cost = 5 × 138,200 = 691,000

Total cost = 1,105,600 + 691,000 = $1,796,600

4 0

3 years ago

Restore Construction Company enters into a contract to remodel Sam’s Home Store, agreeing to use only products from United Build

BlackZzzverrR [31]

Answer:

Sam’s Home Store can enforce the contract against Restore Construction Company

Explanation:

In contract law, only the parties involved in a contract can take action to enforce the contract. In this case Sam' Home Store signed the contract with Restore, so they can enforce it. Any third party beneficiaries from the contract, like United Building Supplies, are not entitled to enforce anything.

6 0

3 years ago

The justification for a company initially recording prepaid rent in either an income statement or balance sheet account is that:

Levart [38]

The justification for a company initially recording prepaid rent in either an income statement or balance sheet account is that at the end of each year, the account balances are revised so that they accurately represent the current situation.

This is further explained below.

<h3>What is an income statement?</h3>

Generally, When a business first records its prepaid rent, it should do so in either an account on its income statement or one on its balance sheet.

The reason for this is because, at the end of each year, the balances of these accounts should be revised so that they more accurately reflect the situation at the moment.

In conclusion, An income statement, also known as a profit and loss account, is one of the financial statements that a business maintains.

It details the revenues and costs that the firm incurred during a certain time period. It describes the process through which the revenues are converted into the company's income or profit after taxes.