Which of the following legal forms of business organization provides for limited liability? The sole proprietorship The

Fantastic news! We've Found the answer you've been seeking!

Question:

Which of the following legal forms of business organization provides for limited liability?
The sole proprietorship
The partnership
The corporation
None of the above has limited liability

Related Book For answer-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

See More Books

Posted Date: Aug 25, 2022 11:08 AM

See More Questions

Which of the following liability accounts is likely to be satisfied with other than payment of cash? A. Wages payable B. Unearned subscriptions revenue C. Accounts payable D. Taxes payable
Which of the following provides guidance to government managers and auditors in determining appropriate and allowable costs chargeable to federal grants? 1. Financial Accounting Standards Board...
Which of the following partnership characteristics is an advantage? a. Unlimited liability b. Limited life c. Ease of dissolution d. Mutual agency
You are to show the journal entries necessary to record the following items which occured in 2012: (a) May 1 Bought a van on credit from Deedon Garage for 6,000. (b) May 3 A debt of 100 owing from P....
The steel beam ABCD shown is simply supported at A and supported at B and D by steel cables, each having an effective diameter of 0.5 in. The second area moment of the beam is I = 1.2 in4. A force of...
On January 1, 2017, Pele SA purchased the following two machines for use in its production process. Machine A: The cash price of this machine was R$35,000. Related expenditures included: sales tax...
The comparative balance sheet of Fidelity Medical Supply at December 31, 2008, reported the following: Fidelity's transactions during 2008 included the following: Requirements 1. Prepare the...
Starbucks Corporationlike all other businessesmakes adjusting en-tries at year- end in order to measure assets, liabilities, revenues, and expenses properly. Examine Starbucks Corporations Balance...
Investment expected to generate cash flow of $100,000 one year from today. Each subsequent cash flow generated by the investment will come one year after the previous cash flow and is expected to be...
Forecasting with the Parsimonious Method and Estimating Share Value Using the ROPI Model Following are income statements and balance sheets for Cisco Systems. Cisco Systems Consolidated Statements of...
How would you rate the velocity of stock price data on the New York Stock exchange versus an income statement issued quarterly? Using the Wall Street Journal, locate an article on the velocity of...
ATT is currently making 500 animal racket covers a week at an average per unit cost of 3.50 , which includes both variable costs and allocated fixed costs. The variable cost of each racket cover is...
On 1 April 2022, Wang, Li, and Golden Property Agency Ltd. (GPA) signed one contract, which contained the following items: Wang sold her two-bedroom flat located in a good school district of Yinchuan...
Angel Enterprises reported the following shareholder's equity at year-end: Preferred Shares, $6, 10,000 shares authorized, 600 shares outstanding $120,000 Common Shares, 1,000,000 shares authorized,...
Many assets provide a series of cash inflows over time; and many obligations require a series of payments. When the payments are equal and are made at fixed intervals, the series is an annuity. There...
Jorgansen Lighting, Incorporated, manufactures heavy - duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for...
Dental Comfort Services provides dental cleanings to its patients. The selling price of a cleaning is $150, and the variable costs associated are $85. The monthly relevant fixed costs are $10,000....
Refer to the data in QS 10-1. Based on financial considerations alone, should Helix accept this order at the special price? Explain.
Use the information from Cornerstone Exercise 9-38. Required: Record the journal entry for December 31, 2009 and 2010.
Electronic Repair Company repaired a high-definition television for Sarah Merrifield in December 2009. Sarah paid $50 at the time of the repair and agreed to pay Electronic Repair Company $50 each...
At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of $31,800 and a balance in the allowance for doubtful accounts of $2,980 (credit). During the year Tennyson had...
In addition to the fuel hose, a __________________ is connected between the fuel truck and the aircraft when refueling.
True or False: The technician must never enter the tank of a transport category aircraft.
Fuel __________________ is an important parameter that merits the use of a warning signal when it falls outside of the normal operating range.

		The sole proprietorship
		The partnership
		The corporation
		None of the above has limited liability

Which of the following legal forms of business organization provides for limited liability? The sole proprietorship The

Question:

Expert Answer:

The corporation provides for limited liability Explanation A ... View the full answer

Cornerstones of Financial and Managerial Accounting

Students also viewed these accounting questions