Answer: A. True
Explanation: I took the test
In a sole proprietorship, the owner's personal assets are at not at risk if the business is not successful. Thus, the statement is false.
What is a sole proprietorship?A sole proprietorship, also known as individual entrepreneurship or proprietorship, is a type of business owned and operated by one person with no legal distinction between the owner and the business entity.
If a sole proprietorship fails, the owner may lose any money invested in the company, but the owner's personal assets are not at risk. Sole proprietors have unlimited liability for their company's debts. This means that if their company runs into financial difficulties, they may lose their personal assets.
Therefore, the statement about sole proprietorship is false.
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how to set up a small business plan for loan
Answer:
You suck!!
I new I should of flagged you!
Answer:
Search it up on the internet.
Explanation:
Go to g00gle and write, how to set up a small business plan for loan.
Ringmeup Inc. had net income of $143,100 for the year ended December 31, 2019. At the beginning of the year, 36,000 shares of common stock were outstanding. On May 1, an additional 18,000 shares were issued. On December 1, the company purchased 4,300 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup paid the annual dividend on the 9,000 shares of 4.65%, $100 par value preferred stock that were outstanding the entire year. Calculate basic earnings per share of common stock for the year ended December 31, 2013.
Answer: $2.12 per share
Explanation:
Basic earnings per share is calculated by the formula:
= (Earnings - Preferred share dividends) / Weighted average number of shares at year end
Weighted average number of shares at year end:
= (36,000 * 11/12 months) + (18,000 * 8/12 months) + ((38,000 - 4,300)) * 1/ 12 months)
= 47,808 shares
Preferred share dividends :
= 9,000 * 4.65% * 100
= $41,850
Basic earnings per share:
= (143,100 - 41,850) / 47,808
= $2.117846
= $2.12 per share
Your company is considering a new project opportunity. It would need to immediately invest $220. In return, in the next 4 years it will receive the following amounts of money: In 1 year: $80 In 2 years: $70 In 3 years: $50 In 4 years: $60 The required annual rate of return is 5%.
The Internal Rate of Return for this project is:_______
Answer:
7.54 %
Explanation:
Year 0 = - $220
Year 1 = $80
Year 2 = $70
Year 3 = $50
Year 4 = $60
I /yr = 5%
Internal Rate of Return for this project is 7.54 %
Jennifer accepted her first job out of college and is moving to another state. How can her credit score affect her?
Landlords may contact prior landlords.
Lenders may look at business bankruptcies.
Insurers may look at garnishment of wages.
Government agencies may look at prior employment.
Answer:A
Explanation:
The credit score of Jennifer may be affected when she moves out of state for job after finishing her college, as the landlords may contact prior landlords. Hence, option A is correct.
What is a credit score?A credit score is a report that describes and intends to showcase the credibility of an individual in the market. A good credit score results in ease of getting loans and EMI.
A credit score gets affected if there is any default in payments previously by the individual. If Jennifer has made any defaults in her rent payments, the landlords take a note of the same, as it affects her credibility.
Hence, option A holds true regarding a credit score.
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what is the difference between job rotation, job delegation, job enlargement and job enrichment
Answer:
Whereas job enlargement means increasing the scope of job quantitatively by adding up more tasks, job enrichment means improvement in the quality of job such that employees are more satisfied and fulfilled. ... Job enrichment entails the functions of planning and organizing and enlargement involves execution of the same.
Kwok Winn is looking to open a new business in his native Singapore. He has decided on a form of licensing that provides him with a standard package of products, systems, and management services in order to sell fast food to local residents. Which of the following best describes the form of business that Mr. Winn has chosen?
a. direct sales.
b. exporting.
c. importing.
d. strategic alliance.
e. franchising.
Answer:
E) Franchising
Explanation:
Franchising can be regarded as strategy that brings about business expansion. It involves distribution of products/ services which involves franchisor that set up the brand's trademark as well as the business system and the franchisee that pay initial fee or royalty to have access to the right to perform Businesses with franchisor's name
Jonas has been assigned to work with a team at Falk Enterprises, Inc. Jonas has supervised this team in the past, and they have always failed to produce results on time. One of the difficulties previously cited by the team was confusion over the roles each team member played. Discuss some the possible roles each of these team members could play and some steps Jonas could take to avoid frustration and delay with this project.
Answer:
There should be defined roles of all the team members and they should know their responsibilities.
Explanation:
Jonas should clearly assign tasks of the project to his team members and each member should be accountable for his task. Jonas should teach his team about the significance of time management and therefore task must be completed before deadlines. Each member of the team must have defined responsibilities and roles.
How is a demand curve derived from a demand schedule
Answer:
the demand curve is a graphical representation depicting the relationship between a commodity different price levels and quantities which consumer and willing to buy it is derived from a demand schedule which is the stability of the price and quantity pure that comprise the
Sixty to sixty-five percent of its value can be used as collateral for a loan.
Insurance policies
Equipment
Real estate
Accounts receivable
Evaluate the impact of induction on Coep
Answer:
Jul 23, 2020 — This phase II study aimed to evaluate the efficacy and safety of ... 2-3 cycles of induction pegaspargase-COEP chemotherapy followed by ...
Explanation:
The effect of introduction on COEP is that it will attract more students to join in the programme.
What are the advantages of the induction?Your new hires receive crucial information and job-specific training during induction. You warmly welcome them into their new positions and assist them in doing so. You can present the different offices and divisions of your business during this training as a site visit.
The goal of the student induction program is to assist new students in settling in and becoming comfortable in their surroundings, to introduce them to the institution's ethos and culture, to assist them in forming relationships with other students and faculty members, and to expose them to a sense of greater purpose and self-exploration.
Therefore, the effect of introduction on COEP is that it will attract more students to join in the programme.
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define central bank economics.
Answer:
A central bank is a financial institution given privileged control over the production and distribution of money and credit for a nation or a group of nations. In modern economies, the central bank is usually responsible for the formulation of monetary policy and the regulation of member banks.
The US and _____ signed the Great Lakes Water Quality Agreement in 1978.
Mexico
Great Britain
Russia
Canada
Answer:
Canada
Explanation:
Trust me
Answer:
Canada :)
Explanation:
major goals specify what an organization seeking to achieve a/ in the short term.
B/in the medium term only.
c/ in the medium to long term
d/in the long term only
e/in the short to medium term.
Answer:
Major goals specify what an organization seeking to achieve
d/in the long term only
Explanation:
Major organizational goals are usually broad and company-wide goals, focused on the long-term. These goals are further broken down into manageable unit goals that have medium to short-term durations. In short, major goals are strategic in nature and may embrace the overarching purposes for setting up the organization in the first place.
List and explain the classification of materials handling equipments
Answer:
the different types of handling equipment can be classified into four major categories transport a comment position a common unit learn formation equipment and storage equipment
what is commercial bank? in your own words.
Based on the Taylor Rule use the following information to calculate the target federal funds rate.
Variable Value
Target inflation rate 2 percent
Current inflation rate 1 percent
Real equilibrium federal funds rate 2 percent
Output gap 10 percent
Answer:
8.0 %
Explanation:
inflation gap = 3 - 2 = 1
=3 + 2 + (.5 x 1) + (.5 x 5)
= 8.0
According to the Taylor Rule, target federal funds rate is 8%.
What is the Taylor Rule?A targeting rule for monetary policy is the Taylor rule. American economist John B. Taylor suggested the rule in 1992 as a tool for central banks to employ in order to stabilize economic growth by appropriately fixing short-term interest rates. The rule takes into account changes in real income, the level of prices, and the federal funds rate.
In accordance with the rule, the federal funds rate should be higher when inflation is greater than the Fed's inflation objective and lower when inflation is lower.
By following the Taylor principle, inflation-inducing shocks—whether they are supply or demand shocks—raise real interest rates because nominal rates grow more rapidly than inflation, which lowers production and controls inflation while maintaining economic stability.
inflation gap = 3 - 2 = 1
=3 + 2 + (.5 x 1) + (.5 x 5)
= 8.0
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define equity economics.
Answer:
fairness or evenness
Explanation:
Basically being fair to one another.
8
What are three advantages of corporations?
Answer:
Personal liability protection, business security and continuity
Suppose Valerie is an avid reader and buys only mystery novels. Valerie deposits $2,000 in a bank account that pays an annual nominal interest rate of 10%. Assume this interest rate is fixed—that is, it won't change over time. At the time of her deposit, a mystery novel is priced at $10.00. Initially, the purchasing power of Valerie's $2,000 deposit is______mystery novels.
For each of the annual inflation rates given in the following table, first determine the new price of a mystery novel, assuming it rises at the rate of inflation. Then enter the corresponding purchasing power of Valerie's deposit after one year in the first row of the table for each inflation rate. Finally, enter the value for the real interest rate at each of the given inflation rates.
Annual Inflation Rate Annual Inflation Rate Annual Inflation Rate
0% 10% 13%
Number of Novels
Valerie Can Purchase
after One Year
Real Interest Rate
When the rate of inflation is equal to the interest rate on Valerie's deposit, the purchasing power of her deposit_____course of the year.
Answer:
wow no one has the answer
Explanation:
At the end of the preceding year, XYZ Inc. had a deferred tax asset of $17,500,000, attributable to its only temporary difference of $70,000,000 for estimated expenses. At the end of the current year, the temporary difference is $45,000,000. At the beginning of the year there was no valuation account for the deferred tax asset. At year-end, XYZ Inc. now estimates that it is more likely than not that one-third of the deferred tax asset will never be realized. Taxable income is $12,000,000 for the current year and the tax rate is 25% for all years.
Required:
Prepare journal entries to record Income Tax Expense for the current year.
Answer:
See below
Explanation:
Given that;
Deferred tax =
Temporary difference = $17,500,000
Taxable income = $45,000,000
Taxable income = $12,000,000
Tax rate = 25%
We would get the value of income tax expense for the current year
Deferred tax asset = (Temporary difference × Tax rate) - ( Referred tax at the end of the preceding year)
Deferred tax asset = ($45,000,000 × 25%) - $17,500,000
Income tax payable = (Taxable income × Tax rate)
Income tax payable = ($12,000,000 × 25%)
Valuation allowance in deferred tax = (One third of the temporary difference of the current year × Tax rate)
Valuation allowance in deferred tax = (1/3 × $45,000,000 × 25%)
Journal entries
Deferred tax Dr $13,000,000
($45,000,000 × 25%) - $17,500,000
..................Balance Cr $6,250,000
.................To Income tax payable
($12,000,000 × 25%) Cr $3,000,000
..................To Valuation allowance in deferred tax (1/3 × $45,000,000 × 25%) Cr $3,750,000
Suppose income increases by 10 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) decreases by 16 percent. The income elasticity of demand for this brand of car is places and include a minus sign if appropriate.) (Enter your response rounded to two decimal This particular brand of automobile is a(n) good. In another example, suppose market research shows that a particular brand of truck is a normal good and a necessity. If so, then the income elasticity of demand for this truck is:________
A. positive.
B. zero.
C. negative.
D. less than 1 but greater than 0.
E. greater than 1.
You are buying a new car. The price (MSRP) is $16,995. You are trading in your old car which is valued by the dealer at $5,500 (this is money taken off your new car price). Sales tax is 7%. What is the cost of the new car after your trade in? *
Identify five typical users of accounting information
Answer:
Owners,and stockholders, directors,officers, internal departments
Explanation:
Making sure that enough cash is on hand to pay bills as they come due and to meet unexpected expenses is called cash:
capitalization
management
maintenance
targeting
administration
Answer:
Managment
Explanation:
Making sure that enough cash is on hand to pay bills as they come due and to meet unexpected expenses is called cash management. Therefore Option C is correct.
What is Cash Management?The daily management of managing cash inflows and outflows is referred to as cash management in a banking institution. It is necessary to manage the numerous monetary transactions that occur every day. The main objectives of cash management are to increase liquidity and decrease funding costs.
Both "Cash Management" and "Treasury Management" are terminology for specific cash flow-related services in the banking industry. Despite the fact that these phrases are frequently used interchangeably, Treasury Management includes a company's financial and investing activities.
Cash management is a crucial element in establishing and maintaining a company's financial stability. Whether you're an individual or a business, "cash" is the main asset needed to cover obligations, so it needs to be managed carefully to maximize profits.
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Use the following to answer questions 31 - 32: Ann is the president of the Paper Supply Company. She is thinking about updating the technology used to produce the paper goods her company sells. Sales have been increasing and are currently around 7,000 tons per year. She has identified the following potential options: Alternative 1 - Use the current technology with annual fixed costs of $10,000 and variable costs of $10 per ton. Alternative 2 - Update the current technology resulting in annual fixed costs of $20,000 and variable costs of $8 per ton. Alternative 3 - Adopt the latest technology resulting in annual fixed costs of $40,000 and variable costs of $6 per ton. 31. The two relevant cross-over volumes (those volumes at which you would shift from one process to another)
A) 5,000 & 7,000
B) 7,000 & 10,000
C) 5,000 & 10,000
D) 7,500 & 10,000
Which alternative would you recommend, and why?
A) Alternative 1
B) Alternative 2
C) Alternative 3
D) Any of the above
Answer:
31. B) 7,000 & 10,000
32. B) Alternative 2
Explanation:
Volume is 7000 tons :
Alternative 1 costs : $10,000 + (7000 * $10 ) = $80,000
Alternative 2 costs : $20,000 + (7000 * $8 ) = $76,000
Alternative 3 costs : $40,000 + (7000 * $6 ) = $82,000
Alternative 2 is the most cheapest option if the volume is between 7,000 tons to 10,000 tons.
There is no substitute for the product that is being sold.
A) perfect competition
B) monopolistic competition
C) Oligopoly
D) monopoly
Answer:
monopoly or b
Explanation:
Match each description to the appropriate term.
1. Maturity value
2. Interest
3. Interest rate
4. Notes receivable
a. A formal, written instrument of credit that represents amounts due from customers.
b. The stated rate charged for using the money of another party.
c. The amount due that must be paid at the due date of a note receivable.
d. The amount charged for using the money of another party
Answer and Explanation:
The matching is as follows;
1. (c) the maturity value is the due amount that should be paid at the due date
2. (d) The interest is the amount that should be charged for using the money of other party
3 (b) The interest rate is the rate charged for using that money of the other party
4(a) The note receivable is the instrument that should be formal and written which shows the amount outstanding from the clients
Punitive damages are damages imposed on the wrongdoer by the court as punishment for an unintentional tort.
True
False
Answer:
False.
Explanation:
Punitive damages are the damages that a defendant pays in addition to actual damages. Punitive damages are awarded by a court when the defendant's behavior is found to be intentional or negligent.
In the cases of tort liability, the court applies punitive damages when defendants motif is proved to be intentional.
Therefore, the given statement is false, as the court impose punitive damages for intentional tort.
Why is it common for producers of services to sell through short distribution
channels directly to the end user?
O A. Transportation costs for services tend to be extremely high.
O B. Not many intermediaries care to distribute services.
C. Some kinds of services are distributed through a broker or agent.
D. The people providing the service often do so by interacting directly
with the user.
Answer:The people providing the service often do so by interacting directly with the user.
Explanation:
Just took the quiz.
Al is a medical doctor who conducts his practice as a sole proprietor. During 2013, he received cash of $280,000 for medical services. Of the amount collected, $40,000 was for services provided in 2012. At the end of 2013, Al had accounts receivable of $60,000, all for services rendered in 2013. In addition, at the end of the year, Al received $12,000 as an advance payment from a health maintenance organization (HMO) for services to be rendered in 2014.
Compute Al's gross income for 2013:
a. Using the cash basis of accounting.
b. Using the accrual basis of accounting.
c. Advise Al on which method of accounting he should use?
Answer:
a. Cash basis
This recognizes revenue and expenses only when cash been received or spent.
Gross income for 2013 = Cash received for medical services + Advance payment
= 280,000 + 12,000
= $292,000
b. Accrual basis
This recognizes only revenue and expenses incurred in a period, regardless of if cash is paid or not.
Gross income for 2013 = Cash received for medical services - Cash received for medical services provided in previous periods + Accounts receivable
= 280,000 - 40,000 + 60,000
= $300,000
c. Use CASH BASIS OF ACCOUNTING
From a taxation point of view, using the cash basis would be more beneficial as Al will pay a less amount of tax as it is a lower income.
He will also be sure of the cash received unlike Accrual that recognizes Accounts receivable which have a chance of not being collected.