Homework Answers
Q-1 :: ANSWER :: (C)Corporation
=> Explanation ::
In America About 80% Business Revenue Has largest Share in American Business By Corporations. American Retail Corporation has Major Part of revenue In It
Q-2 :: ANSWER :: (C) Partnership
=> Explanation ::
in Partnership 2 Or Above People Meet together and Start Business And Share Profit Among Them. So Talented People Come Together To share Their business risk And Their Reward is Partnership
Q-3 :: ANSWER :: (B) Corporation
=> Explanation ::
Corporation has a Limited Liability Because It is considered As distinct legal entity So It is Separate from ita Owner The Company Is Responsible for Debts. So The Owner cannot Loss More than He Invested Because Of Limited Liability is an Advantage Of corporation
Q-4 :: ANSWER :: (B) S Corporation
=> Explanation ::
S Corporation has A special status So they Pass Their Income,Deduction Etc Through Their Shareholders. So They Don't Pay Income Tax. A Disadvantage Of This corporation is That Owner has no Say In How Dividends Are Divided Among The Owners
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This type of organization accounts for over 80% of business revenue in America. O partnership sole...
Legal entity that is entirely separate from the parties who own it and that is responsible...
Legal entity that is entirely separate from the parties who own it and that is responsible for its own debts is a partnership corporation government sole proprietorship O corporation This type of business structure is the most popular business structure in America sole proprietorship government sole proprietorship corporation partnership
Chart of Entity Comparison Sole Proprietor Partnership C Corporation S Corporation LLC Legal Status Same entity...
Chart of Entity Comparison Sole Proprietor Partnership C Corporation S Corporation LLC Legal Status Same entity as owner Separate entity from owner Separate entity from owner Separate entity from owner Separate entity from owner Tax Year Same as owner Majority interest rules; principal partner rules; or the least aggregate deferral of income rule; exceptions may be the business purpose of 444 election Calendar or fiscal year Calendar year; 444 election; or business purpose demonstrated Depends on tax status as sole...
1. What does and Ethical Foundation for an organization embody? Neither of the above The basic...
1. What does and Ethical Foundation for an organization embody? Neither of the above The basic principles which govern the external and internal relations of the organization The structure, operational and conduct of the activities of the organization The basic principles which govern the external and internal relations of the organization O All of the above Which of the following does the term Corporate Social Responsibility relate to? Ethical conduct Human rights and employee relations Environmental practice All of the...
acct hw QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship....
acct hw
QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship. combines the records of the business with the personal records of the owner. has tax advantage over corporation. is classified as a separate legal entity. QUESTION 3 Retained earnings is part of stockholders' equity is part of assets is part of liabilities is part of common stock QUESTION 4 A payment of a portion of an accounts payable will increase liabilities decrease stockholders' equity....
Which type of business organization(Sole Proprietorship Partnership, or Corporation) should Gemma and James should use to...
Which type of business organization(Sole Proprietorship Partnership, or Corporation) should Gemma and James should use to organize their business entity and why? Gemma and James have pooled their savings to create a start-up company to develop and market an idea they conceived while students together at MIT. They obtained permission to use a college lab during late night hours a few nights a week during their last term before graduating to work on the project. Then they were able to...
Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company.
Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company. DescriptionBusiness Organizationa.Raymond and Amy own Security Services. The business is not a separate legal entity.b.Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business debt.c.Riley and Kay own Speedy Packages, a courier service. Both are personally liable for the debts of the business.d.Lannister owns Wealth Management. The business is a separate legal entity and pays...
The firm type that involves sole decision maker power for the owner, unlimited liability for the...
The firm type that involves sole decision maker power for the owner, unlimited liability for the owner. limited ability to raise money, and ends with the death of an owner is sole proprietorship m partnership. O corporation. all of the above. 0 none of the above. Question 2 4 pts The partnership firm type has a complex decision making process, but also has unlimited liability for the owners and is dissolved with the death of one of the owners. True...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: sole...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP) Different forms of businesses have different characteristics. Which of the following characteristics would apply to a limited liability company and a limited liability partnership? Check all that apply. LLPs are not suitable for professional firms such as accounting, law, and architecture Owned by single individual Owners have limited liability and right to...
agree or not? What are the advantages and disadvantages of changing the company organization from a...
agree or not? What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC? A sole proprietorship is a company that is own by one person and is the simplest form of business to start (Ross, Westerfield & Jordan, 2020). Since there is only one owner for the organization, the sole proprietor retains all the profits from the business. On the other hand, a sole proprietor is also responsible for any debts, liabilities...
O/ Signify "True" or "False" for each of the following items as they pertain to forms...
O/ Signify "True" or "False" for each of the following items as they pertain to forms of business organization. 1. A sole proprietorship is a separate legal entity from its owners. 2. A sole proprietorship is a separate accounting entity from its owners. 3. A partnership is a separate legal entity from its owners. 4. A partnership is a separate accounting entity from its owners. 5. A corporation is a separate legal entity from its owners. 6. A corporation is...
Legal entity that is entirely separate from the parties who own it and that is responsible for its own debts is a partnership corporation government sole proprietorship O corporation This type of business structure is the most popular business structure in America sole proprietorship government sole proprietorship corporation partnership
1. What does and Ethical Foundation for an organization embody? Neither of the above The basic principles which govern the external and internal relations of the organization The structure, operational and conduct of the activities of the organization The basic principles which govern the external and internal relations of the organization O All of the above Which of the following does the term Corporate Social Responsibility relate to? Ethical conduct Human rights and employee relations Environmental practice All of the...
acct hw
QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship. combines the records of the business with the personal records of the owner. has tax advantage over corporation. is classified as a separate legal entity. QUESTION 3 Retained earnings is part of stockholders' equity is part of assets is part of liabilities is part of common stock QUESTION 4 A payment of a portion of an accounts payable will increase liabilities decrease stockholders' equity....
The firm type that involves sole decision maker power for the owner, unlimited liability for the owner. limited ability to raise money, and ends with the death of an owner is sole proprietorship m partnership. O corporation. all of the above. 0 none of the above. Question 2 4 pts The partnership firm type has a complex decision making process, but also has unlimited liability for the owners and is dissolved with the death of one of the owners. True...
4. Forms of business organizations Aa Aa Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP) Different forms of businesses have different characteristics. Which of the following characteristics would apply to a limited liability company and a limited liability partnership? Check all that apply. LLPs are not suitable for professional firms such as accounting, law, and architecture Owned by single individual Owners have limited liability and right to...
O/ Signify "True" or "False" for each of the following items as they pertain to forms of business organization. 1. A sole proprietorship is a separate legal entity from its owners. 2. A sole proprietorship is a separate accounting entity from its owners. 3. A partnership is a separate legal entity from its owners. 4. A partnership is a separate accounting entity from its owners. 5. A corporation is a separate legal entity from its owners. 6. A corporation is...
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