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Dennis_Churaev [7]
2 years ago
14

Lucy Zimmerman has organized her craft shop as a sole proprietorship. Her sister has warned her about _____, the legal principle

holding Lucy responsible for paying off all of the debts of the business.
Business
1 answer:
grigory [225]2 years ago
4 0

A sole proprietorship is not a legal entity but the person who owns the business and is responsible for paying all debts that the business accrues.  This business is linked to the persons social security number and there is no legal distinection between the owner and the business entity. Lucy's sister probably warned Lucy about sole proprietorship and the legal principle that holds her responible for paying off all of the debts of the business.

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The village of Hempstead has been taking a look at the issue of responding to 911 calls. It is a small community and geographica
yuradex [85]

Answer:

\bar X = \frac{17+12+9+16+14}{5}= 13.6min

So then the best answer for this case would be:

a. 13.6 minutes

Explanation:

For this case we have the following data for the response rates:

17,12,9,16,14

And we want to calculate the mean response time for 911 calls in this village.

And for this case we use we can use the definition of sample mean given by:

\bar X = \frac{\sum_{i=1}^n X_i}{n}

Where n = 5 represent the sample size for this case. If we replace we got:

\bar X = \frac{17+12+9+16+14}{5}= 13.6min

So then the best answer for this case would be:

a. 13.6 minutes

The sample mean is an estimator unbiased of the population mean because:

E(\bar X) = E(\frac{\sum_{i=1}^n X_i}{n}) = \frac{1}{n} \sum_{i=1}^n E(X_i) = \frac{n\mu}{n}= \mu

For this reason is a good statistic if we want to see central tendency in a group of values.

8 0
2 years ago
Lassen Corporation sold a machine to a machine dealer for $24,000. Lassen bought the machine for $52,000 and has claimed $20,500
tangare [24]

Answer:

Gain/loss= $7,500 loss

Explanation:

Giving the following information:

Selling price= $24,000.

Lassen bought the machine for $52,000 and has claimed $20,500 of depreciation expense on the machine

First, we need to calculate the book value:

Book value= original price - accumulated depreciation

Book value= 52,000 - 20,500= $31,500

If the selling price is higher than the book value, the company gain from the sale.

Gain/loss= 24,000 - 31,500= $7,500 loss

8 0
2 years ago
Explain the steps that should be taken by an internal accountant/CMA when there is a difference of opinion with one's supervisor
Firdavs [7]

Answer:

1. Understand difference in the reporting manner for Management Accountants and Financial Accountants.

2. Refer to Company policy documents and International Reporting Standards to clearly expose the difference.

3. Consult with other co-workers on who the information is intended and agree on whose opinion to base the reporting.

Explanation:

Management Accountants or CMA prepare Financial Statements for Management use and there are no Statotory or Strict guidelines on how these  statements are prepared.

Whilst Financial Accountants prepare Financial Statements for External reporting and have to abide by the Reporting Standards (either GAAP or IFRS).

So, they will be always be differences in the manner of reporting.

The solution is to understand the user of those statements that are being prepared and <em>take the opinion that meets those users needs</em>.

6 0
2 years ago
Should gambling casinos advance credit to gamblers
JulsSmile [24]
<span>If the gambler does not pay the marker when he has finished gambling, the marker is outstanding and the casino may later submit the marker, like a check, to the gambler's bank for payment.

So no</span>
4 0
2 years ago
When bringing to market a new product like the MotorolaOne Zoom, the actual product launch takes place in the __________________
AnnZ [28]

Answer:

Option E: Commercialization

Explanation:

The marketplace is simply dynamic and undergoes different changes and the demand rate for products is also do change. Companies evaluate their already made or existing product line, update it and tries to fit into the standard of their consumers.

In the new product development strategies, companies makes a unique new product development strategy to limit the overuse of time and resources through the method of, organize planning and research, understanding what customer really want thereby definitely resourcing of the said project.

In commercialization, it entails the new product launching procedures (processes). It usually needs heavy promotion and product distribution throughout the network.

6 0
1 year ago
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