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enyata [817]
2 years ago
7

Angelica and Celeste invested all their savings in a small pizzeria they opened outside the University of Missouri. They operate

d the business as a general partnership. After 11 months, the business went broke and Angelica and Celeste were left with outstanding bills of $43,650, which was more than their initial investment in the company. Angelica and Celeste canAnswers:
lose their personal assets as the result of their company's financial problems.
lose only the funds they originally invested in their company.
lose only the total value of the assets actually used to operate the business.avoid any liability for these debts since a partnership is considered to be a business entity that is separate and distinct from the partners who own it.
Business
2 answers:
dsp732 years ago
5 0

Answer:

The correct answer is letter "A":  Lose their personal assets as the result of their company's financial problems.

Explanation:  

A general partnership is the type of business structured in a manner in which all the people involved in the company's ownership share the property, income, and legal obligations. General partnerships are said to be unlimitedly liable as it is possible to <em>take into account the personal assets of the individuals concerned in the face of business obligations</em>.

Katena32 [7]2 years ago
4 0

Answer:

The answer is: Angelica and Celeste lose their personal assets as the result of their company's financial problems.

Explanation:

The advantages of a general partnership are:

  • Each partner files the profits or losses of the business on his or her own personal income tax return.
  • This way the business does not get taxed separately.
  • Easy to establish.

Some of the disadvantages are:

  • <u>Partners share unlimited personal liability with respect to debts, obligations, contracts, torts, potential lawsuits, etc. </u>
  • A partner cannot transfer interest in the partnership without the unanimous consent of the partners.

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You can now sell 40 cars per month at $20,000 per car, and demand is increasing at a rate of 3 cars per month each month. What i
MArishka [77]

Answer:

More than $1500 price per car per month has to be dropped.

Explanation:

Given:

price per car = $20,000

car sale per month = 40

rate of increase in demand = 3

Solution:

Revenue R = Price × Quantity = P * Q

From the above given data

P = 20,000

Q = 40

R = P*Q

dQ/dt = 3

We have to find the rate at which the price is to be dropped before monthly revenue starts to drop.

R = P*Q

dR/dt = (dP/dt)Q + P(dQ/dt)  

          = (dP/dt) 40 + 20,000*3 < 0

          = (dP/dt) 40 < 60,000

         = dP/dt < 60000/40

         = dP/dt < 1,500

Hence the price has to be dropped more than $1,500 before monthly revenue starts to drop.

3 0
2 years ago
Read 2 more answers
When an athletic director at state university evaluates how much time a coach spends with the team, the coach's ethical impact o
Leona [35]
I believe the correct answer is job performance.
This is because all of those things mentioned above (how much time he spends with his team, his impact on the team, and how well he explains new things) are part of his performance, and based on the effects that this has, his performance will either be considered to be good or bad.
3 0
2 years ago
You purchase a put option on Swiss francs for a premium of $.02, with an exercise price of $.61. The option will not be exercise
natita [175]

Answer:

Net Profit = (0.61-0.58) - 0.02

                = 0.01

Explanation:

5 0
2 years ago
How much would it cost for Chester Corporation to repurchase all its outstanding shares if new brokerage fees totaled 1% of the
Vinvika [58]

Answer:

$78.0 million

Explanation:

Cost of repurchase = Number of shares*Share price/(1-1%)

Cost of repurchase = $3,352,720 * $23.02/(1-1%)

Cost of repurchase = $3,352,720 * $23.02/(1 - 0.01)

Cost of repurchase = $3,352,720 * $23.02/0.99

Cost of repurchase = $3,352,720 * $23.25

Cost of repurchase = $ 77,950,740

Cost of repurchase = $78.0 million

6 0
2 years ago
Two firms, Gene's Gloves and Wally's Wallets, have factories near a lake. Both firms use a chemical for tanning leather. Some of
m_a_m_a [10]

Answer:

Gene's Gloves was given the right to dump 5,000 gallons of harmful chemicals. It will need to spend $10,000 ($1 per gallon x 10,000 gallons) to substitute harmful chemicals for harmless chemicals in order to keep working.

Wally's Wallet was also given the right to dump 5,000 gallons of harmful chemicals. It will need $60,000 ($3 per gallon x 20,000 gallons) to treat those chemicals and turn them harmless in order to keep working.  

If Gene can sell its right to dump 5,000 gallons to Wally, for a price higher than $5,000 but lower than $15,000, both companies would win:

Gene would spend $15,000 in harmless chemicals but it would have between $5,001 and $14,999 in revenue from the selling of "pollution rights".

Wally will spend $45,000 in treating harmful chemicals but it will have to pay Gene between $5,001 and $14,999 for buying their "pollution rights".

5 0
2 years ago
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