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Brrunno [24]
2 years ago
10

Which statements indicate that Rick’s company is a limited liability company? Rick Douglas is a bright and passionate lighting d

esigner. Following his passion for innovative lighting solutions, he founded a company called Dazzle in 2000. Dazzle is a successful, small company with annual revenue of $25 million. It offers residential, commercial, and theatrical lighting solutions. Apart from Rick, there are several other owners in the company who have made tremendous contributions to its growth. The profits are shared in a fair manner among all owners. Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns. The success of the company turned Douglas and the other owners into millionaires. Rick has a villa in the prestigious Kimberly Hills area. The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.
Business
2 answers:
Maslowich2 years ago
5 0
Answer: <span>Apart from Rick, there are several other owners in the company who have made tremendous contributions to its growth. 

</span>

A Limited Liability Company ( LLC) is a type of business structure combining the characteristics of a sole-proprietorship and a corporation. This type of business is capable for the pass-through taxation feature of a sole proprietorship, and at the same time limiting the liability of the owners which is <span>similar to a corporation.</span>

Travka [436]2 years ago
3 0

Answer:

<u>ONE OF THE ANSWERS IS</u>: The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.

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Which of following is a TRUE statement about inventory within a continuous review system?
garri49 [273]

Answer:

c. When ordering or setup costs increase, Economic Order Quantity increases

Explanation:

In inventory there are two types of review systems used to replenish stock, the periodic inventory and continuous inventory.

Continuous inventory involves ordering the same quantity of a good in each order. However the rate at which goods are replenished varies based on monitoring of level of goods. Orders are made when inventory gets to a certain level.

In this instance when there is an increase in ordering or setup there needs to be allocation of a higher amount for orders. The additional cost is added to the economic order quantity

5 0
2 years ago
If expected return is less than required return on an​ asset, rational investors will​ ________.
DedPeter [7]
Sell the asset, which will drive down the price and cause the expected return to reach the level of the required return.
6 0
2 years ago
In 2019, Carson is claimed as a dependent on his parents' tax return. Carson's parents provided most of his support. What is Car
lana [24]

The tax laibility as calculated is $1036.

<u>Explanation:</u>

a.)  Carson earnings  $14000

Less: the Standard deduction  $12000

Taxable income  $2000  

Tax liability  $200

b.)  Carson earnings  $14000

Qualified dividend income  $5000

Gross income  $19000

less: Standard deduction  $12000

Taxable income  $7000

Taxable income taxed at carson rate  $2000

($7000 minus $5000)  

           Ordinary Tax  $200

Kiddie Tax is calculated as follows:  

Gross unearned income  

unearned income                             $5000

Kiddie tax up to 2600                          $260

Kiddie tax for over and above 2600  $576

                                                                     $836  

Total tax liability ($200 plus $836)           $1036

 

7 0
2 years ago
Tommy McCartney is a sixteen-year-old high school student. He has worked forty hours per week at the local convenience store ove
Aleks [24]

Explanation:

First of all, the dealer should not have sold the car to the sixteen year old boy without the presence of his parents or any guardian. It is illegal to have a contract with a child who is not legally allowed to drive the car before the age of eighteen.

Now secondly if the dealer has somehow sold the car to the boy, the boy cannot come back after few months and ask for returning his money because he purchased the car, the condition of the condition of the car got worse during the whole time when car was with him, and also there is no legal clause in the agreement which allows him to demand his money back after using the car for this long time. So demanding his money back from the dealer is totally unethical as well as illegal. The dealer is true that the car is still the property of the boy and the money is still the dealer's money.

5 0
2 years ago
Josh is evaluating a new technology purchase for his company. The technology he buys cannot exceed the budgeted amount. For this
Verizon [17]

Answer:

<em><u>The answer is</u></em>: <u>Added features, Operating expenses, Training requirements</u>.

Explanation:

Josh, when planning a purchase of new technology, will have to take into account on the <u>one hand</u>: the characteristics of the new technology that he wants to add.

<u>On the other</u>: The expenses that will be the exploitation of this new technology.

<u>And also</u>: The necessary expenses to learn to operate with the new technology.

<em><u>The answer is</u></em>: <u>Added features, Operating expenses, Training requirements</u>.

3 0
2 years ago
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