All categories

2 years ago

As the sonic brand grew, troy smith formed a business relationship with charlie pappe. This form of business ownership was a

Business

2 answers:

nadezda [96]2 years ago

8 0

Answer: Partnership

A partnership is a from of business ownership who come together with mutual consent in order to manage the business and share its profits.

The terms and conditions of this agreement and the quantum of profit for each partner is clearly stated in a document called the partnership agreement.

All the partners who actively manage the business and share the profits are called General Partners. The general partners are jointly and severally liable for the debts incurred by the partnership.

kirill [66]2 years ago

6 0

<u>The form of business ownership was a partnership. </u>

Further Explanation:

Partnership:

Partnership refers to the formal agreement between two or more parties for carrying out the business activities and participates in the profit and loss sharing of the business. There are many types of partnerships. In partnership, the liabilities of the partners are unlimited. However, in the case of limited liability partnership, the liabilities of the partners are limited.

Determine the form of business ownership:

In the given case, Troy formed a business relationship with Charlie Pappe. Earlier, the Sonic brand was managed and operated by Troy alone. Therefore, it was a sole proprietorship before the introduction of Charlie Pappe. After the introduction of Charlie Pappe, there are two members in the business ownership. The business form of two people is classified as a partnership.

Thus, the form of business ownership was a partnership.

Learn More:

Learn more about the advantages of the sole proprietorship brainly.com/question/999392
Learn more about the partnership brainly.com/question/1603188
Learn more about the types of association brainly.com/question/2977841

Answer Details:

Grade: Middle school

Chapter: Partnership

Subject: Business studies

Keywords: sonic, brand, grew, troy, smith, formed, business, relationship, Charlie, Pappe, form, business, ownership, unlimited partnership, company, two or more, members.

You might be interested in

The Jensen family has owned Jensen's Country Furnishings since 1987 and Delores and Frank Jensen, grandparents and founders, mak

Levart [38]

Answer:

Top-Level Management

Explanation:

Your top management consists of CEOs, CFOs, Presidents and vice presidents, who are responsible for establishing the general management of an enterprise and ensuring that important organizational targets are accomplished.

5 0

2 years ago

Jerry has inherited an Excel sheet that lists all of the system requirements for his team's new project. But unfortunately, his

enot [183]

Answer:

A. 

Explanation:

Based on the information provided within the question it can be said that the statement that is mislabeled as a performance example is "The system must automatically generate an insurance claim form." This is the only answer provided that does not deal with performance but instead is dealing with insurance claims that do not affect performance at all. Therefore this is the answer.

5 0

2 years ago

Anderson Corporation predicts that this year's sales will total $7,500,000. The selling price for their product is $62.50 per un

Yakvenalex [24]

Answer:

$2,685,000

Explanation:

Sales = $7,500,000 ÷ $62.50

= 120,000 units

Contribution = Sales - Variable cost

= $7,500,000 - (120,000 × $38)

= $7,500,000 - $45,60,000

= $29,40,000

Net income (after taxes) = $165,750

Net income before taxes and interest:

= Net income (after taxes) × (100 ÷ 65)

= $165,750 × (100 ÷ 65)

= 255,000

Therefore,

EBIT = Contribution - Fixed cost

255,000 = $29,40,000 - Fixed cost

Fixed cost = $29,40,000 - 255,000

= $2,685,000

6 0

2 years ago

Ruth Hu recently inherited $200,000. She has invested the inherited money in real estate and government securities. Hu is using

ExtremeBDS [4]

Answer:

Store of value.

Explanation:

Ruth Hu recently inherited $200,000. She has invested the inherited money in real estate and government securities. Hu is using her money as a store of value.

A store of value can be defined as the characteristic of an asset which makes it tradable, can be saved, maintain its value, retrievable and exchanged at a future time without it depreciating.

Assets with such functions or characteristics are money, gold, diamonds and other precious stones.

8 0

1 year ago

Suppose that the president proposes a new law aimed at reducing healthcare costs: All Americans are required to eat one apple da

sergeinik [125]

Answer:

A. The value of the marginal product of apple pickers increases

B. The equilibrium price of apples increases.

F. The wage of apple pickers increases.

Explanation:

In order to keep the healthcare costs low and increase the health care benefits of the people president proposed the apple a day law. Demand for the apples increase as and the equilibrium price of the apples also increases.

There are no changes in the marginal producers of the apples. The values of the marginal producers of the apple increases. Demand for the apple pickers also increases along with the daily wages.

7 0

2 years ago