The business form that combines the advantages of single taxation and unlimited membership is the 3) Limited Liability Company (LLC).
An LLC is a flexible business structure that provides limited liability protection to its owners (known as members) while allowing them to enjoy the tax benefits of a partnership.
An LLC's profits and losses pass through to its members and are taxed only once on their personal tax returns, avoiding double taxation that often occurs with corporations. Additionally, there are no restrictions on the number of members an LLC can have, making it an ideal option for businesses with unlimited membership.
Overall, an LLC provides the best of both worlds for small businesses looking to protect their personal assets while enjoying the tax advantages of a partnership.
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Chapter 2 Mastery Problem
The T –
Hassan Rahim won a concession to rent bicycles in the local park during the summer. During the month of June, Hassan completed the following transactions for his bicycle rental business:
Chart of Accounts
Cash
Hassan Rahim Capital
Accounts Receivable
Hassan Rahim, Withdrawals
Supplies
Rental Income
Shed
Wages Expense
Bicycles
Maintenance Expense
Accounts Payable
Repair Expense
Concession Fee Expense
June
2
Began business by placing $7,200 in a business checking account.
3
Purchased supplies on account, $150
4
Purchased 10 Bicycles for $2,500, paying $1,200 down and agreeing to pay the rest in thirty days.
5
Purchased for cash a small shed to hold the bicycles and to use for other operations, $2,900
6
Paid cash for shipping and installation costs (considered as an addition to the cost of the shed) to place the shed at the park entrance, $400.
8
Received cash of $470 for rentals during the first week of operation.
13
Hired a part-time assistant to help out on weekends at $7.50 per hour
14
Paid a maintenance person to clean the grounds, $75.
15
Received cash, $500, for rentals during the second week of operation.
16
Paid the assistant for a weekend’s work, $150.
20
Paid for the supplies purchased on June 3, $150.
21
Paid repair bill on bicycles, $55.
22
Received cash for rentals during the third week of operation, $550.
23
Paid the assistant for a weekend’s work, $150.
26
Billed a company for bicycle rentals for an employee outing, $110
27
Paid the fee for June to the Park District for the right to the bicycle concession, $100.
28
Received cash for rentals during the week, $410.
29
Paid the assistant for a weekend’s work, $150.
30
Transferred $500 to personal checking account.
Answer:
27.
Explanation:
How do data analysts refer to the words and symbols they use to write instructions for computers?
Data analysts refer to the words and symbols they use to write instructions for computers as programming languages or code.
Your personal credit reflects:
A. debt versus investments
B. investments versus income
C. Debt versus number of cards
D. income versus debt
Answer:
the letter C
Explanation:
pa brainliest nalang po kung tama
Your personal credit reflects income versus debt. Option D is an appropriate response.
What is personal credit?The capacity to access products or services or borrow money with the idea that you'll pay for them later is known as credit.
Building personal credit involves being reliable when it comes to making on-time, complete payments on all of your debts, including credit card bills, vehicle loans, and mortgages. Your credit score rises as a result. It's crucial to keep in mind that your personal and corporate credit should not be combined.
That which a person possesses personally and which is based on the perceptions held of his moral integrity and professional position.
Your personal credit reflects income versus debt.
Hence, Option D is an appropriate response.
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Liabilities are economic resources that are expected to benefit the business in the future.
a. true
b. false
The given statement exists as False. Liabilities are financial resources that the company anticipates using in the future for its advantage.
Why are liabilities important to a business?Liabilities are financial resources that the company anticipates using in the future for its advantage.
An essential component of supply and demand in the economy is liabilities. Consumers and producers enter into a responsibility agreement for payment of the products. As a result, there is an open flow of funds and an ongoing cycle of income.
If liabilities become unmanageable, it can be necessary to sell assets to cover the debt. This could lower the company's worth (the equity share of the owners). Contrarily, debt (a liability) can be utilized to acquire new assets that raise owners' equity stakes by generating revenue.
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Why is it important for a human resource manager to carefully maintain
employee records?
Answer:
Certain records require employee privacy to be protected. Not maintaining and following best practices for employee record keeping leaves you vulnerable to defending yourself against lawsuits, labor investigations or audits.
Explanation:
What are the SWOT of Starbucks? ("Brainly patrol" go away this is a question I was asked in class)
Hopefully this is what ur talking abt Starbucks SWOT analysis is a study of the company’s strengths, weaknesses, opportunities and threats, in the internal and external business environment. Starbucks SWOT analysis reveals how the largest coffee chain in the world uses its competitive advantages to continue growing so successfully all over the world.
Explanation:Hope this helps, and is what you meant.
Muffy's Muffins had net income of $2,535. The firm retains 70 percent of net income. During the year, the company sold $475 in common stock. What was the cash flow to shareholders? a. $286 b. $1,300 c. $1,236 d. $761 e. $2,250
The answer is, the cash flow to shareholders is closest to $286 (option a).
How to find?To calculate the cash flow to shareholders, we need to first determine the retained earnings and dividends. Muffy's Muffins had a net income of $2,535 and retains 70% of it.
Step 1: Calculate retained earnings
Retained earnings = Net income * Retention ratio
= $2,535 * 0.70
= $1,774.50
Step 2: Calculate dividends paid
Dividends = Net income - Retained earnings
= $2,535 - $1,774.50
= $760.50
Step 3: Calculate cash flow to shareholders
Cash flow to shareholders = Dividends - Common stock sales
= $760.50 - $475
= $285.50
The cash flow to shareholders is closest to $286 (option a).
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Explain each type of cooperatives with relevant local examples
Cooperatives are organizations that are owned and operated by a group of individuals with a shared interest. There are different types of cooperatives, including:
Consumer CooperativesProducer CooperativesWorker CooperativesWhat are cooperatives?Consumer Cooperatives: Consumer cooperatives are owned by consumers who purchase goods and services from the cooperative. The main objective of a consumer cooperative is to provide its members with high-quality products and services at an affordable price. Examples of consumer cooperatives include credit unions, food cooperatives, and retail cooperatives. For example, the East End Food Co-op in Pittsburgh, Pennsylvania is a consumer cooperative that provides healthy, local, and organic food to its members.
Producer Cooperatives: Producer cooperatives are owned and operated by producers of goods or services. The main objective of a producer cooperative is to provide its members with a market for their products or services. Examples of producer cooperatives include agricultural cooperatives, worker-owned cooperatives, and craft cooperatives. For example, the Ocean Spray cooperative is a producer cooperative that is owned by cranberry farmers in the United States and Canada.
Lastly, Worker Cooperatives: Worker cooperatives are owned and operated by the workers who work for the cooperative. The main objective of a worker cooperative is to provide its members with employment opportunities and a fair share of the profits. Examples of worker cooperatives include employee-owned businesses, service cooperatives, and production cooperatives. For example, the Arizmendi Bakery in Oakland, California is a worker cooperative that is owned and operated by the bakery's employees.
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highlight four reasons why a seller would prepare a proforma invoice???
Answer:
Pro forma invoices are sent to buyers ahead of a shipment or delivery of goods or services. Most pro forma invoices provide the buyer with a precise sale price. A pro forma invoice requires only enough information to allow customs to determine the duties needed from a general examination of the included goods.
Explanation:
hope i help
why is apple corporation not cited more frequently for labor abuses in the production of its goods?
There are several possible reasons why Apple Corporation is not cited more frequently for labor abuses in the production of its goods, including:
1. Apple has implemented policies and initiatives to improve working conditions in its supply chain. Over the years, Apple has faced criticism and scrutiny over labor abuses in its supply chain, particularly in China. In response, the company has implemented various policies and initiatives aimed at improving working conditions, such as auditing suppliers, increasing transparency, and enforcing labor standards.
2. Apple has a large and complex supply chain. Apple products are manufactured by a network of suppliers, subcontractors, and manufacturers in various countries around the world. This complex supply chain makes it difficult to monitor and regulate labor conditions throughout the entire chain, and it is possible that some labor abuses may go undetected.
3. Apple is not the only company facing labor abuse allegations. While Apple has faced scrutiny over labor conditions in its supply chain, it is not the only company facing such allegations. Labor abuses are common in many industries and regions around the world, and many other companies have also been accused of exploiting workers.
4. Legal and regulatory barriers. The laws and regulations governing labor practices and human rights vary widely across different countries, and it can be difficult for companies to navigate these complex legal frameworks. Additionally, some countries may have weak enforcement mechanisms or may be reluctant to punish companies for labor abuses, which can make it difficult to hold companies accountable.
It is important to note that while Apple has taken steps to improve working conditions in its supply chain, there are still concerns about labor abuses in the production of its goods. Consumers and advocates can play a role in holding companies accountable and pushing for better labor standards in global supply chains.
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Given that nw=1.33nw=1.33 and na=1.00na=1.00 , by what percent do objects underwater appear closer than they actually are?
Objects underwater appear approximately 33% closer than they actually are due to the difference in refractive indices between water and air.
The refractive index of water (nw) is 1.33, while the refractive index of air (na) is 1.00. When light passes from water to air, it undergoes refraction, causing a change in its direction. This change in direction makes objects underwater appear closer than they actually are when viewed from the air. The degree of this apparent displacement can be estimated by comparing the refractive indices, and in this case, it results in objects underwater appearing approximately 33% closer than their actual distance. This phenomenon is commonly observed when looking at objects underwater, such as fish or submerged structures.
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consider the market for pens. suppose that the number of students who are allergic to the rubber used in pencil erasers increases, leading more students to switch from pencils to pens in school. further, the price of ink, a major input in the pen production process, has increased sharply.
The answer is As a result in the increase in the demand for pen and a decrease in the price of plastic, equilibrium quantity increases and there is an indeterminate effect on equilibrium price.
What's the demand in economics?Demand is the number of customers that are able and willing to purchase goods at various price points throughout a specific time period. Demand for any good or service denotes the buyers' desire to purchase the item as well as their willingness and ability to pay for it.
What kind of demand is that?For instance, the first slice of pizza that a customer purchases when they're hungry will be the one with the most utility. The utility decreases and the customer is more satisfied with each subsequent slice. Theoretically, the consumer might offer a greater price for the first slice.
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Advertising on a website is considered mainly what type of advertising media.
Answer:
Social media advertising
Explanation:
Types of advertising:
Paid search advertising.
Social media advertising.
Native advertising.
Display advertising.
Print advertising.
Broadcast advertising.
Outdoor advertising.
Money management
activities necessary to manage current ___?____
economic resources while working toward long-term
financial security.
refers to the daily financial
Money management activities necessary to manage current personal economic resources while working toward long-term financial security.
option c is the correct answer
What is money management?The term Money management refers to the methods of saving, planning spending, investing, and all other activities that deals with the use of money for personal use or organizational use.
Money management helps in growing wealth and regulating the use of money. This is an important scheme in business and should be done with care. Money management helps to make a clear goal of the intended use of money and clears certain areas that is not worth spending on.
The information gathered so far has helped us see that money management is necessary to manage current personal economic resources while working toward long-term financial security. Hence the other options which are required and inflated are not relevant to the topic being discussed.
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Some of the most famous and successful entrepreneurs, like Steve Jobs or Richard Branson, never finished or went to college. How do you think they managed to become so successful? Why doesn’t this work for everyone?
DalTech Inc., a publicly traded company, designs and manufactures wearable technology. What approach should DalTech take after a long period of horizontal integration in its industry
DalTech Inc., a publicly traded company, designs and manufactures wearable technology. After a long period of horizontal integration in its industry, DalTech should consider adopting a vertical integration approach. Vertical integration involves acquiring or merging with companies along the supply chain.
Firstly, it can reduce costs by eliminating middlemen and capturing the profit margins that were previously going to suppliers or distributors. Secondly, it can ensure a consistent supply of raw materials and components, reducing the risk of disruptions in production. Thirdly, vertical integration can improve coordination and communication between different stages of the production process, leading to greater efficiency.
To implement vertical integration, DalTech should start by conducting a thorough analysis of its supply chain and identifying potential targets for acquisition or merger. In conclusion, after a period of horizontal integration, DalTech should consider adopting a vertical integration approach to gain more control over its supply chain and reap the benefits of cost reduction, supply chain stability, and improved coordination.
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One of the characteristics of a capitalist free enterprise economy is.
what number taken off 20% equals $304
The number which is taken off 20% equals $304 is 20.
Here we will replace the given values in formula (a):
Amount saved = Original price x the discount in percent / 100.
= $304 x 20% / 100
= 6080 / 100
Amount Saved = $60.8 (answer).
Here, a 20% discount for an item with original price of $304 = $60.8
Thus, in order to find the amount saved, multiply it by the percentage and / 100.
Use the formula (b) and replace the given values:
Sale price = Original Price - the amount saved.
Sale Price = $304 - $60.8 = $243.2
One will pay $243.2 for an item with its original price of $304 when it is discounted by 20%.
Suppose, if one buy an item at $304 with a 20% discount, they have to pay $243.2
Use the formula (b) and replace the given values:
Amount Saved = the priginal price × discount in percent /100.
60.8 = $304 × discount in percent / 100
60.8 / $304 = discount in percent / 100
100 × 60.8 / $304
6080 / $304
Discount in Percent = 20
Hence, the number which is taken off 20% equals $304 is 20.
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Items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30,2016
Answer:
Financial Statements are the reports of a company which provide detailed information about company financial position. The Income statement reports the company revenues and expense for the period whereas Balance sheet reports the company assets and liabilities position.
Explanation:
The Maple Park Theaters Corp. has reported the net of $133,562 in its income statement. The company has planned for reinvesting the 80% of net income into the extension of park. The reinvestment decision is taken by the company management for the purpose of increase revenue. The decision seems to be correct as extension of park and its services will attract more people to the park and ultimately revenue will increase and so profit too.
Define one key area of your daily life that would benefit if you learned to communicate better. Explain in detail how that key area would improve with better communication.
Answer:
if I learned to communicate better I would have more patience
Explanation:
if I were to communicate better I would have more patience with people it would help me understand other people's thoughts feelings and needs as well if I communicated my own thoughts feelings and needs it builds better relationships
Discuss how social media has affected small businesses at all stages of their development, such as financing, marketing, and communications.
Social media has had a huge impact on small businesses at all stages of their development. It has allowed them to reach a much larger audience than ever before, and to engage with customers in a more direct and personal way.
What impact has social media had on small businesses?Social networking is helping small businesses succeed. Small businesses now have a way to engage with clients and spread the word about their goods thanks to the new platform. Additionally, it has enabled tiny firms create an odd brand character within their target market.
At every step of their growth, small businesses have had a significant effect from social media. They are now able to interact with customers in a more direct and intimate manner and reach a far broader audience than ever before thanks to it. Additionally, it has helped them develop relationships with future clients and develop a more distinctive brand. Additionally, it has enabled them to more effectively market their goods and services, and
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Which of the following is NOT a public good provided by the government?
Electricity is not given away for free. People are charged for the goods or units of power they use. Ths it is not provided by the government as a public good.
What are public goods?
A good or service that can be consumed by one person without excluding others (national defense, flood control, street lights, open-sources software).
A good that the government offers that is both non-excludable and non-rivalrous is known as a public good.
Public goods include things like security, law enforcement, streetlights, and lighthouses. When there is a market failure, governments frequently try to supply public goods.
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Brainliest-
How any two stakeholders affect the quality of toyota's products?
Answer:
The company's brand value, human resource skills, and financial soundness are all influenced by these stakeholders. It affects toyota's quality products to be either better or worse.
what are the disadvantages of international trade?
Suggest measures to minimize the disadvantages of international trade.
Answer:
It enables a country to obtain goods which it cannot produce or which it is not producing due to higher costs, by importing from other countries at lower costs. (iii) Specially Foreign trade leads to specialisation and encourages production of different goods in different countries.
Explanation:
inorder to minimize the disadvantage , there should be privacy maintainence in the intellectual property, there should be balanced in domestic and international trade. the over use of natural resources should be controlled. there should be proper checking of the good and services before trading them inside country or in foreign country, etc
The case mentions that making carbonated water isn’t particularly difficult. Based on porter’s model for industry analysis, this increases which competitive force?.
Based on porter’s model for industry analysis, this increases which the Threats of new entrants.
What is threat of new entrants?The threat of new entrants is known to be a risk liked with new competitor that produce for current companies in an industry.
This is said to often take place when a new company is said to be starting to sell a similar product or service based on the fact that they are an existing company.
See options below
Multiple Choice
rivalry among competitors
bargaining power of buyers
bargaining power of suppliers
threats of substitute products or services
threats of new entrants
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A basic concept in economics is that all resources are
O scarce.
• allocated.
valuable.
O renewable.
A basic concept in economics is that all resources are scarce. Thus, option a. is the correct answer.
Explain about the basic concept about the economics.
Every person's life includes doing economics on a regular basis in addition to studying it. It serves as a means of balancing the inputs and outputs of money. Whatever it is, one should prepare before the month or count at the end of the month or year, whether it is a small family, a large family, a small commercial enterprise, or a giant organisation. Economics seeks to strike a balance between the unending demands and the finite resources.
After saying this, we'll start talking about the topic of "economics." The pupils who are just beginning their studies in commerce in class XI will find this subject extremely interesting. In essence
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Answer:
Option A scarce
Explanation:
if i get 16 brainlest ill give u guys 136 points
Answer:
you get brainlyist by answering questions. not making them
Answer:
ill give u brainlest tete
Explanation:
$9,900 while general, selling, and administrative expenses totaled $3,600. the company produced 7,100 units and sold 4,400 units at a price of $7.10 a unit. what is the amount of finished goods inventory on the balance sheet at year-end?
The amount of finished goods inventory on the balance sheet at year-end is $13,185.
To determine the amount of finished goods inventory on the balance sheet, we need to calculate the cost of goods sold (COGS) and subtract it from the cost of goods manufactured (COGM).
The COGM can be calculated using the following formula:
COGM = Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory
Assuming that the beginning finished goods inventory is zero, we can rearrange the formula to solve for the ending finished goods inventory:
Ending finished goods inventory = COGM - COGS
First, let's calculate the COGS:
COGS = Units sold x Cost of goods sold per unit
COGS = 4,400 x (9,900/7,100) = $6,160
Next, we can calculate the COGM:
COGM = Direct materials + Direct labor + Factory overhead
COGM = (7,100 x $0.75) + (7,100 x $1.20) + $5,500
COGM = $5,325 + $8,520 + $5,500 = $19,345
Finally, we can calculate the ending finished goods inventory:
Ending finished goods inventory = COGM - COGS
Ending finished goods inventory = $19,345 - $6,160 = $13,185
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Using a standardized recipe benefits food cost control because it provides accurate information for what?.
Using a standardized recipe benefits food cost control because it provides accurate information for pick-up services, catering, or banquets.
Why is standardizing recipes a crucial cost-control measure?A standard recipe guarantees both a consistent level of quality and quantity as well as a predictable price range. It's crucial that the cost of each recipe and portion be estimated and largely consistent in order for an establishment to determine a menu selling price that enables the establishment to turn a profit.
What benefits can standardized recipes provide?Utilizing an uniform recipe has advantages like constant quality and quantity, normal serving and price, ensuring nutritional value and managing dietary issues, such as special diets or food allergies, aiding in ensuring that "Truth in Menu" criteria are met, helping with forecasting and purchasing.
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2. Ownership of the resources used to create wealth is in the hands of the individuals is known as what?
a. private property right
b freedom of choice
c. profits
d. competition