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ddd [48]
2 years ago
9

Glossamer Inc., a company owned by George and Alex, faces huge debts and is eventually shut down due to bankruptcy. The company'

s financial loss affects Alex personally, and his house and other personal assets are seized by the bank. However, George's personal assets are not affected. This is most likely because George is a(n) _____.
A. general partnerB. limited partnerC. active partnerD. quasi partner
Business
1 answer:
melamori03 [73]2 years ago
5 0

Answer:

B. limited partner

Explanation:

A limited partner is a partner whose liability is limited to the amount invested in the business. A limited partners personal assets are not affected by bankruptcy.

A general partner is a partner who has unlimited liabilities - his personal assets can be seized if there is a bankruptcy.

Alex is a general partner.

A quasi partner is a partner who has left a partnership but left his shares or initial investment in the business.

An active partner is a partner who is involved in the daily operations of the business.

I hope my answer helps you.

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Luden [163]
Yes you will be able to afford your monthly payment 20+20=40+10=50+60=110+650 will be 760 out of 2100 so yes you can afford it
6 0
2 years ago
Demski Company pays its employees on the 1st and 15th of each month. It is March 31 and Demski is preparing financial statements
Elden [556K]

Answer:

Explanation:

In the given transaction, it would impact the income statement and the balance sheet in the increment manner

That means The income statement would increase by $96,000 as it reflect the wages expense in the debit side of the income statement

And, the balance sheet would increase by $96,000 as it reflect the wages payable in the credit side of the balance statement under the current liabilities side of the balance sheet

6 0
2 years ago
Kent Manufacturing produces a product that sells for $70.00. Fixed costs are $163,200 and variable costs are $28.00 per unit. Ke
kipiarov [429]

Answer:

$330,846

Explanation:

The computation of the  the revised break even point in dollars is shown below:

= (Fixed cost ) ÷ (Profit volume ratio)

where,  

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And the profit volume ratio would be

= (Contribution margin) ÷ (Sales) × 100

where Contribution margin equal to

= Selling price per unit - variable cost per unit

= $70 - $28 + $5.60

= $36.4

So, the profit volume ratio is

= ($36.40) ÷ ($70)

= 52%

So, the revised break point in dollars is

= ($172,040) ÷ (52%)

= $330,846

4 0
2 years ago
10. The Wetski Water Ski Company is the world’s largest producer of water skis. As you might suspect, water skis exhibit a highl
xenn [34]

Answer: $ 30,290,000

Explanation:

For this question, the transportation table has been addressed below.

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= $ 30,290,000.

Therefore, the cost of the plan will be $30,290,000.

5 0
2 years ago
Which of the following scenarios is an example of using potentially copyrighted material?
trasher [3.6K]

Letter C example, Fred uses a voice recording of Sally for his next musical.  Copyrighted material is not just something that someone makes a trend out of it, or making it popular.  Copyrighted material are materials which are originally created especially for a certain purpose.

6 0
2 years ago
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