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likoan [24]
2 years ago
11

1. A creditor's claim to the property of an individual or business is called

Business
1 answer:
skad [1K]2 years ago
7 0

Answer:

c. liabilities.

Explanation:

liabilities are the creditors claims to the assets of the business/property.

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Debts and obligations of a business are referred to as:.
sertanlavr [38]

Answer:

Liabilities

Explanation:

Liabilities are the debts and obligations that a business owes.

4 0
2 years ago
In 2019, Joan accepted and received a $10,000 award for outstanding civic achievement. Joan was selected without any action on h
Daniel [21]

Answer:

A) $0

Explanation:

If the award was unsolicited and given to Joan in recognition for her accomplishments in scientific, educational, literary, religious, artistic, or civic fields, then the award is not taxed.

The unsolicited part is the key here, since most awards are given to candidates that have been previously been nominated by someone, e.g. Nobel prizes are only given to nominated candidates and the winners must pay income taxes.

5 0
3 years ago
As you describe your products or services in your business plan, the most effective approach is to
alexgriva [62]
Have a clear description of what exactly your product or service is going to be and how you plan to accomplish your set goals.
Focus on what target market your product is for.
Describe the benefits of this product
Have other people offer proof to how good the product is
Make the description easy to read and understand.
7 0
3 years ago
An owner who is active in managing the company, and who has unlimited liability for claims against the firm is a(n) ___________
Law Incorporation [45]

An owner who is active in managing the company, and who has unlimited liability for claims against the firm is a "general" partner.

A general partnership, the essential type of association under common law is a course of action by which at least two people consent to partake in all advantages, benefits and monetary and legitimate liabilities of a business. Such partners have boundless liability, which implies their own assets are at risk to the partnership's commitments.  

6 0
3 years ago
In a periodic inventory system, which of the following accounts may be closed by debiting Cost of Goods Sold? a) Sales, Inventor
Svetradugi [14.3K]

Answer:

c) Inventory (beginning) and Purchases.

Explanation:

When you use perpetual inventory system, you must record cost of goods sold every time you make a sale. But when you use a periodic inventory system, you close cost of goods sold with merchandise inventory account at the end of the period.

beginning inventory + purchases - ending inventory = cost of goods sold

6 0
2 years ago
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