Sole proprietorships - Study guides, Class notes & Summaries

Social Studies 7-12 PACT Study Guide, 823 Q&A, 2024. Free Trade the ability for one country to trade with another without hindrance so that all goods can be produced with the greatest efficiency Sole Proprietorships a business where a single person acts as the owner and operator of the business with no distinction between the person and the business Comparative Advantage the ability to produce a good at a lower opportunity cost than another producer Market a space in which goods are ex...

MIE 201 Exam 2: Chapters 4, 5, 8 Makanui NCSU Questions and Answers 100% Pass 3 types of business ownership - Correct Answer ️️ -- sole propreitorship - partnership - corporation sole proprietorships - Correct Answer ️️ -- businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages - Correct Answer ️️...

Debbie is a limited partner in ADK Partnership. Her partnership Schedule K-1 reports $19,000 ordinary business income, $2,000 long-term capital gain, and $830 dividend income. Which of these items are subject to self-employment tax? None of the items are subject to SE tax because Debbie is a limited partner. $19,000 ordinary business income $19,000 ordinary business income and $2,000 long-term capital gain All income reported on a partner's Schedule K-1 are subject to self-employmen...

All of the following are methods that a sole proprietorship can raise money except A) Private loans. B) Commercial loans. C) Sell ownership in the business. D) Line of credit Sell ownership in the business Which of the following is true about a sole proprietorship? A) It is subject to corporate income tax. B) Sole proprietorships face double taxation. C) The owner reports income and expenses on the owner's own tax return. D) The owner must file a tax return on behalf of the busin...

ACCT 211 Exam 1 questions with correct answers graded A+ What is the primary purpose of financial accounting? - correct answer To measure business activities of a company and then communicate them to external parties for decision making purposes. Distinguish between managerial and financial accounting. - correct answer +Managerial-Accounting information that is provided for internal users (Managers). +Financial-Accounting information that is provided for external users. Limited liabili...

MIE 201 Exam 2 Chapters 4, 5, 8 Makanui NCSU Question and answers correctly solved 2023/20243 types of business ownership - correct answer - sole proprietorship - partnership - corporation sole proprietorships - correct answer - businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietors

ACCT 211 Exam 1What is the primary purpose of financial accounting? - correct answer To measure business activities of a company and then communicate them to external parties for decision making purposes. Distinguish between managerial and financial accounting. - correct answer +Managerial-Accounting information that is provided for internal users (Managers). +Financial-Accounting information that is provided for external users. Limited liability. - correct answer Prevents stockholders ...

3 types of business ownership - Answer-- sole propreitorship - partnership - corporation sole proprietorships - Answer-- businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages - Answer-- simplicity - single layer of taxation - taxed at individual rates - privacy - flexibility and control - personal satisfa...

A business can obtain liability insurance, which helps protect the business against lawsuit judgments. - Answer-True Bonding is a type of insurance in which the business is covered in case the workers cause any damage in the performance of their work. - Answer-True In a Subchapter C Corporation, it is possible to have a double taxation situation. - Answer-True The insurance coverage obtained by a small business is directly proportional to the cost. As the coverage increases, the cost...

A business owned by a single individual is called a -corporation -sole proprietorship -general partnership -limited partnership -limited liability company o :## sole proprietorship The primary goal of financial management is to: -maximize current dividends per share of the existing stock -maximize the current value per share of the existing stock -avoid financial distress -minimize operational costs and maximize firm efficiency -maintain steady growth in both sales and net ea...