need help with these two questions
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Homework Answers
| Question 6. | Sole proprietorship is the business entities that has no provision that limits some or all of the liability of owner, Sole proprietoship does not provide any liability protection. |
|
Correct answer is option 2. |
|
| Question.7 | Sales Tax is not levied by the U.S. Government. |
| Correct answer is option 1. |
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need help with these two questions
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Question 6 Which of...
Question 3 of 75. Which of the following is a disadvantage of operating as a sole...
Question 3 of 75. Which of the following is a disadvantage of operating as a sole proprietorship? O Sole proprietorships have complex legal and accounting requirements. The owner of a sole proprietorship generally carries unlimited liability for the debts and liabilities of the business O A sole proprietorship has limited flexibility in choosing a tax year. O A sole proprietorship may only use the accrual method of accounting.
Need help with these two questions. Thank you Which of the following types of taxes is...
Need help with these two questions.
Thank you
Which of the following types of taxes is levied by almost all states on some or all goods purchased? Sales tax Income tax Property tax Wealth transfer tax Question 3 Which type of tax is a real property tax? Income tax Consumption tax Wealth tax Use tax
Exercise 1-6 Distinguishing business organizations LO C4 Consider the following separate situations, identify each as being...
Exercise 1-6 Distinguishing business organizations LO C4 Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company. Business Organization Description Lannister owns Wealth Management. The business is a separate legal entity and pays an additional business income tax. b. Harvey and Louis own NYC Law. Harvey and Louis are jointly liable for partnership debts. Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business...
I need help with the following questions in business economics. I am having trouble with them...
I need help with the following questions in business economics. I am having trouble with them and it's getting difficult. 67. A written document that provides a statement of a company’s goals, methods for achieving goals, and standards for measurement is called: a. a business plan b. a marketing plan c. an incorporation document d. a financial blueprint 68. Which of the following does not grant direct loans to small businesses? a. Commercial banks b. Small Business Investment Companies c....
QUESTION 12 Which of the following is an advantage of the sole proprietorship? A. Limited liability...
QUESTION 12 Which of the following is an advantage of the sole proprietorship? A. Limited liability for its owner B. Double taxation on its owner C. No significant legal requirements for starting the business D. Ability to sell shares of ownership to the investing public QUESTION 7 6.25 points Save Answer Assume that a business has earned Net Income of $200,000 in a given year and that the corporate tax rate is 21%. Individuals are taxed at a rate of...
1) Which of the following is true of sole proprietorship? a)They form the majority of all...
1) Which of the following is true of sole proprietorship? a)They form the majority of all businesses located in the United States. b)They are the most expensive type of business to create and maintain c)They account for the majority of the profits made in the United States d)They are entities which protect their owners from all types of liability. 2) Which of the following is true of general partnerships? a)General partnerships are taxable entities operated by a sole proprietor. b)General...
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...
Answer the questions below: Which one of the following statements correctly applies to a sole proprietorship?...
Answer the questions below:
Which one of the following statements correctly applies to a sole proprietorship? The owner of the business has no personal liability. The ownership can easily be transferred to another individual. The owner enjoys limited liability for the firm's debts. The owner owns all the shares of the corporation. E. The owner is personally liable for all activities and debts of the business. 2. True or False. A corporation that has debt is worth less than a...
TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...
TRUE OR FALSE/ MULTIPLE CHOICE and word response
questions.
C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
For question #4 accurately answer each of the following: Ch 01: Assignment-An Overview of Financial Management...
For question #4 accurately answer each of the following:
Ch 01: Assignment-An Overview of Financial Management Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics belong to a proprietorship? Check all that apply. Profits taxed only once, at the individual (personal) level can easily raise large amounts of capital Subject to unlimited liability You see and read...
Question 3 of 75. Which of the following is a disadvantage of operating as a sole proprietorship? O Sole proprietorships have complex legal and accounting requirements. The owner of a sole proprietorship generally carries unlimited liability for the debts and liabilities of the business O A sole proprietorship has limited flexibility in choosing a tax year. O A sole proprietorship may only use the accrual method of accounting.
Need help with these two questions.
Thank you
Which of the following types of taxes is levied by almost all states on some or all goods purchased? Sales tax Income tax Property tax Wealth transfer tax Question 3 Which type of tax is a real property tax? Income tax Consumption tax Wealth tax Use tax
Exercise 1-6 Distinguishing business organizations LO C4 Consider the following separate situations, identify each as being a sole proprietorship, partnership, corporation, or limited liability company. Business Organization Description Lannister owns Wealth Management. The business is a separate legal entity and pays an additional business income tax. b. Harvey and Louis own NYC Law. Harvey and Louis are jointly liable for partnership debts. Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business...
QUESTION 12 Which of the following is an advantage of the sole proprietorship? A. Limited liability for its owner B. Double taxation on its owner C. No significant legal requirements for starting the business D. Ability to sell shares of ownership to the investing public QUESTION 7 6.25 points Save Answer Assume that a business has earned Net Income of $200,000 in a given year and that the corporate tax rate is 21%. Individuals are taxed at a rate of...
Answer the questions below:
Which one of the following statements correctly applies to a sole proprietorship? The owner of the business has no personal liability. The ownership can easily be transferred to another individual. The owner enjoys limited liability for the firm's debts. The owner owns all the shares of the corporation. E. The owner is personally liable for all activities and debts of the business. 2. True or False. A corporation that has debt is worth less than a...
TRUE OR FALSE/ MULTIPLE CHOICE and word response
questions.
C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
For question #4 accurately answer each of the following:
Ch 01: Assignment-An Overview of Financial Management Businesses can be classified into the following forms: proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics belong to a proprietorship? Check all that apply. Profits taxed only once, at the individual (personal) level can easily raise large amounts of capital Subject to unlimited liability You see and read...
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