A city issued bonds on July 1. Interest of $600,000 is payable the following January 1. On December 31, the city transfers the required $600,000 from its general fund to its debt service fund. On its December 31 debt service fund statement of revenues, expenditures, and changes in fund balance, the city :______
a. Must report interest expenditure of $0
b. Must report interest expenditure of $600,0000
c. Must report interest expenditure of $500,000
d. May report interest expenditure of either $0 or $600,000
Answers
Answer:
d. May report interest expenditure of either $0 or $600,000
Explanation:
Government entities used modified accrual accounting system and one of the main difference with accrual accounting system used by private businesses is that they do not have to report accrued interests on their end of year balance sheets. They can choose to report them or not, it is optional.
Related Questions
Let's say that a country produces the following products:
5 Dust Mop Slippers at a price of $10 each;
8 Toilet Shaped Water Bowls for Dogs at a price of $25 each.
10 Automatic Spaghetti Twirling Forks at a price of $5 each.
5 pounds of stone (used in the production of the 3 final products listed above) at a price of $4 per pound.
1 pound of plastic (used in the production of the 3 final products listed above) at a price of $3 per pound.
The country's total depreciation is $20.
What is this country's Gross Domestic Product?
Answers
QUESTION THREE.
The following data give the savings bank accounts balances of nine sample
households selected in a survey. The figures are in SSP
745.2,000.1.500.68,000.461,549,3750,1800,4795
(a) Find the mean and the median for these data;
(6) Do these data contain an outlier? If so, exclude this value and recalculate th
mean and median. Which of these summary measures has a greater change wh
outlier is dropped?;
(c) Which of these two summary measures is more appropriate for this series?
Answers
Answer:
We can first order the data from smallest value to largest value:
461
549
745
1500
1800
2000
3750
4795
68000
a) The mean is 9289, and the median is 1800
b) The data does have an outlier, which is 68000, because it is more that three standards deviations away from the mean, excluding this value, our new mean is 1950 and our new median is 1650. We can see that the greatest change in value was for the mean.
c) the median is more appropriate because the median is less sensitive to outliers. The mean can be easily swayed by outliers in either way, and this can give an erroneous impression of the data.
give the advantages of business partnership structures
Answers
Answer:
Your welcome! Hope you have a nice wonderful day :)
Explanation:
One of the advantages of having a business partner is sharing the labor. Having a partner may not only make you more productive, but it may afford you the ease and flexibility to pursue more business opportunities. It might even eliminate the downside of opportunity costs.
Outline a research design using observation for each of the following situations:
a. A bank wishes to collect data on the number of customer services and the frequency of customer use of these services.
b. A state government wishes to determine the driving public's use of seat belts.
c. A researcher wishes to know how many women have been featured on Time covers over the years.
d. A human resource manager wants to know what salaries their key competitors are offering for some common positions.
e. A fast-food restaurant manger wishes to determine if they serve their customers as quickly as their competitors.
f. A magazine publisher wishes to determine exactly what people look at and what they pass over while reading one of its magazines.
g. An overnight package delivery service wishes to observe delivery workers beginning at the moment when they stop the truck, continuing through the delivery of the package, and ending when they return to the truck.
Answers
Explanation:
a) A bank wishes to collect data on the number of customer services and the frequency of customer use of these services.
Explanation:
a. A bank wishes to collect data on the number of customer services and the frequency of customer use of these services
What is the future value of 875 six years from now if the required rate of return is 7% (Rounded to 2 decimal places)?
Answers
The future value of 875 six years from now is mathematically given as
F= 1.313.13
What is the future value of 875 six years from now if the required rate of return is 7%?Generally, the equation for Future Value is mathematically given as
Future Value = P * (1+r)^n
Therefore
F= 875 * (1+7%)^6
F= 875 * 1.50073035
F= 1.313.13
In conclusion, Future Value
F= 1.313.13
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Match the different activities to the responsibilities of relevant banks.
ll rights reserved
accepts deposits from people
regulates safe and lawful
operations
conducts nation's monetary policies
lends money through to consumers
and businesses
provides financial services to the
government
Federal Bank
Other Commercial Bank
Answers
The correct activities for federal and other commercial banks are:
accepts deposits from people - Other Commercial Bankregulates safe and lawful operations - Federal Bankconducts nation's monetary policies - Federal Banklends money through to consumers and businesses - Other Commercial Bankprovides financial services to the government - Federal BankHow are federal and other commercial banks different ?Banks play a crucial role in the economy by providing various financial services to the public and the government. The Federal Bank is responsible for conducting the nation's monetary policies, which includes setting interest rates, regulating the money supply, and maintaining price stability.
On the other hand, commercial banks, also known as Other Commercial Banks, are responsible for accepting deposits from people and lending money to consumers and businesses.
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Identify an industry that enjoys perfect (or nearly perfect) competition. How do the competitors interact with each other and suppliers and customers?
Answers
Farmers' markets: The typical farmers' market may be the closest thing to ideal competition that exists in the real world. Small customers producers charge relatively similar pricing for products that are almost equivalent.
Considering that there are so many small producers in the agricultural sector and that they have so little. This industry perhaps displays the closest thing to ideal competition because of its control over the selling pricing of their products. Monopolistic Competition Despite the fact that numerous businesses use customers marketing techniques and recipes, McDonald's is nonetheless distinct. Because the products are not uniform, the market cannot be completely competitive.
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What is the present value of a $10,000 payment you will receive in one year, assuming a discount rate of 3.75%?
Answers
Answer:
$9,636
I hope it helps. Thank you
The CPI is based on the prices of a carefully selected market
basket of goods, all of which consumers can purchase at a
supermarket.
O True
O False
Answers
The CPI is based on the prices of a carefully selected market basket of goods, all of which consumers can purchase at a supermarket is false.
The CPI is a measure of inflation that tracks the average change over time in the prices paid by urban consumers for a fixed basket of goods and services.
The basket of goods and services included in the CPI represents the typical spending patterns of urban households, but it is not limited to items found in a supermarket. The basket includes a wide range of goods and services, such as housing, transportation, healthcare, education, and recreation, in addition to food and beverages.
The Bureau of Labor Statistics (BLS) in the United States, which calculates the CPI, regularly updates the basket of goods and adjusts their weights based on consumer spending patterns. The BLS collects data from thousands of retail stores, service establishments, and other providers to ensure a representative sample of prices across different regions and types of businesses.
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PROGRESSIVE
Ompany B needs to hire 30 new employees. Ten percent (10%) of applicants do not
eet the basic business requirements for the job, 12% of the remaining applicants de
ot pass the pre-screening assessment, 23% of those remaining applicants do not
how up for the interview, and 5% of those remaining applicants fail the background
vestigation. How many applicants need to apply in order to meet the hiring target?
30
45
50
Jakelia Lawson
52
Sm
Answers
52 applicants need to apply in order to meet the hiring target.
Let the number of applicants need to apply to meet the hiring target be x.
Now,10% of applicants do not meet the basic business requirements
so 90% of applicants meet the basic business requirements
Hence the number of remaining candidates is = (90/100)x
12% of the remaining applicants don't pass the pre-screening test
so (100-12)=88% of the remaining applicants passed the pre-screening test,
The number of remaining candidates after this step are = (88/100)*(90/100)x
23% of the remaining applicants don't show up for the interview
77% of the remaining applicants show up for the interview
the number of remaining candidates after this step are = (77/100)*(88/100)*(90/100)x
5% of the remaining applicants failed the background
95% of the remaining candidates passed the background
the number of remaining candidates after all steps are =
(95/100)* (77/100)*(88/100)*(90/100)x
Now the company needs to hire 30 new employees so the remaining candidates after all the steps must be equal to 30
(95/100)* (77/100)*(88/100)*(90/100)x = 30
0.95*0.77*0.88*0.9x = 30
x = 51.78
The number of candidates must be a whole number so we take the nearest whole number which is 52.
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Suppose for the year 2015, Speedy Chef, a fast food restaurant, had a Gross Profit of $1,281,648. Speedy Chef had the following expenses:
Cost of Goods Sold $1,251,167
Selling Expense $70,578
Rent Expense $156,941
Utilities Expense $73,994
Insurance Expense $35,148
Wages $505,245
General & Administrative $24,358
Miscellaneous $32,968
Interest Expense $4,059
Income Tax Expense $60,596
What would Speedy Chef's Income Before Taxes be for 2015?
Answers
The Speedy Chef's Income Before Taxes for 2015 is -$873,406.
The following are the operating expenses for Speedy Chef for the year 2015:Cost of Goods Sold $1,251,167Selling Expense $70,578Rent Expense $156,941 Utilities Expense $73,994Insurance Expense $35,148Wages $505,245General & Administrative $24,358Miscellaneous $32,968Interest Expense $4,059Income Tax Expense $60,596.
The formula to determine the Income Before Taxes (IBT) of Speedy Chef for 2015 is given below:Income Before Taxes (IBT) = Gross Profit - Total Operating ExpensesTotal Operating Expenses = Cost of Goods Sold + Selling Expense + Rent Expense + Utilities Expense + Insurance Expense + Wages + General & Administrative + Miscellaneous + Interest Expense + Income Tax Expense.Substitute the given values,Income Before Taxes (IBT) = Gross Profit - Total Operating Expenses = $1,281,648 - $2,155,054 = -$873,406.
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A company had a market price of $39.40 per share, earnings per share of $2.20, and dividends per share of $1.35. Its price-earnings ratio equals:
Answers
Answer:
Price earning ratio = $17.9
Explanation:
Price earning ratio = Market Price share / Earning Per Share
Price earning ratio = $39.40/$2.2
Price earning ratio = $17.9
What should every potential investor secure first before starting an investment plan?
Answers
Before you make any decision, consider these areas of importance:
Draw a personal financial roadmap. ...
Evaluate your comfort zone in taking on risk. ...
Consider an appropriate mix of investments. ...
Be careful if investing heavily in shares of employer's stock or any individual stock. ...
Create and maintain an emergency fund etc.
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Answers
Based on the cost of production by Stam Company, the overhead rate which is applied to the jobs are:
Data and Calculations:
Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $33,600 $41,900
Direct labor used (in March) $24,600 $20,300
Overhead applied (March) $12,300 $10,150
Costs during April
Direct materials used $139,000 $226,900 $102,000
Direct labor used $94,200 $161,500 $107,300
Overhead applied $55,600 $77,500 $52,500
($94,200 × 50%) ($161,500 × 50%) ($107,300 × 50%)
Job 306 - $47,100
Job 307 - $80,750
Job 308 - $53,650
The overhead rate applied for Job 306 in April is:
= Direct labor cost x 50%
= 94,200 x 50%
= $47,100
The overhead applied for Job 307 in April is:
= 161,500 x 50%
= $80,750
The overhead for Job 308 in April is:
= 107,300 x 50%
= $53,650
Hence, based on the cost of production by Stam Company, the overhead rate applied to the jobs are calculated above.
The given question is incomplete, the complete question is-
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Stam Company Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured.
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Recently rush invested R8000 at wonder bank for three years.The bank offered an interest of 10% per annum. The interest is calculated on the original amount plus interest so therefore calculate the amount of interest that Rush clothing manufacturers will recieve after three years?
Answers
The interest is calculated using the formula: I = P * r * t
In this case,
P = $8000
r = 10% = 0.1 (as a decimal)
t = 3 years: I = $8000 * 0.1 * 3
I = $2400
Therefore, Rush clothing manufacturers will receive an interest of $2400 after three years. The total amount at the end of 3 years would be the original principal plus the interest, which is $8000 + $2400 = $10,400.
In the fields of finance and economics, interest is the payment made at a set rate by a borrower or deposit-taking financial institution to a lender or depositor in excess of the principle amount (the amount borrowed). It is not the same as a charge that the borrower could pay to the lender or another entity.
It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit or reserve, but not at a set rate predetermined in advance, but rather on a pro-rata basis as a share of the reward received by risk-taking businesspeople when revenue is earned that exceeds all costs.
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Communication and control two of the reasons that consumer do which of these?
(Multiple Answers)
Sell online
Shop Online
Buy Online
Compete Online
Answers
has any questions or problems.
4. It is the development of an ongoing connection between a company and its customers. The
relationship involves marketing communications, sales support, technical assistance and
customer service
Answers
Answer:
Customer relationship management (CRM).
Explanation:
CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction. Therefore, these employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.
This ultimately implies that, customer relationship is focused on developing an ongoing connection between a business firm (organization) and all of its customers, as well as potential customers. The fundamentals of customer relationship is based on improving marketing communications, sales support, technical assistance and customer service so as to bring satisfaction to the customers.
Hence, the degree of satisfaction received by customers throughout their lifecycle is largely dependent on customer relationship management.
Concord Company sells merchandise on account for $5700 to Ivanhoe Company with credit terms of 2/10, n/30. Ivanhoe Company returns $1000 of merchandise that was damaged, along with a
check to settle the account within the discount period. What is the amount of the check?
$4700
$4606
$5586
$5606
Answers
Answer:
The right solution is Option b ($4606 ).
Explanation:
The given values are:
Company sells merchandise,
= $5700
Company returns,
= $1000
Now,
The amount of the check will be:
= \((5700-1000)\times 98 \ percent\)
= \((5700-1000)\times 0.98\)
= \(4700\times 0.98\)
= \(4606\) ($)
At maturity, a bond issued at a premium will have ______ bonds payable balance compared to the maturity value had the bond had sold at a discount or par.
Answers
At maturity, a bond issued at a premium will have premium bonds payable balance compared to the maturity value had the bond had sold at a discount or par.
The bond's carrying value will increase if it is issued at a premium?An obligation's carrying value exceeds its face value when it is issued at a premium. The carrying value of a bond that has been issued at a discount is lower than the bond's face value. The carrying value of a bond is equal to the bond's face value when it is issued at par.
The entry is a credit to interest expenditure and a debit to premium on bonds payable if there was a premium on bonds that were due; this reduces the issuer's total interest expense.
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12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.
Answers
1. Paid Office Station Co. for part of the debt incurred on April 5, $1,200.
Debit: Accounts Payable - Office Station Co.$1,200
Credit: Cash $1,200
2. Provided services on account, $4,200.
Debit: Accounts Receivable $4,200
Credit: Service Revenue $4,200
To pay off the remaining balance owing to Office Station Co., a debit is sent to the accounts payable account. To account for the cash outflow, the Cash account is credited. This journal entry records the settlement of a portion of the debt incurred on April 5 with Office Station Co.
The acknowledgment of revenue for services rendered to a client on the account is represented by this journal entry. To reflect the increase in the amount due by the client, the Accounts Receivable account is debited.
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The complete question is probably
Write journal entries
12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.
1. Reflect on your Ethical Leadership Assessment results. What is the level of ethical thought and effort that you put into your workplace behavior?
2 Reflect on your proficiency with the four closely1. Reflect on your Ethical Leadership Assessment results. What is the level of ethical thought and
effort that you put into your workplace behavior?
2 Reflect on your proficiency with the four closely related skills: gaining power, exercising influence, resisting unwanted influence, and increasing formal authority. If you are not currently employed in a work organization, do your best to apply these questions to another type of role.
3 Reflect on your Strategies for Handling Conflict. What is your awareness of how you typically respond to interpersonal conflict.
4 Reflect on your Organizational
Structure Assessment. What is the
Answers
Following corporate policies, communicating openly, accepting responsibility, being accountable, performing professionally, and having faith in and respect for your coworkers are just a few instances of ethical workplace behavior.
What is an ethical workplace behavior?Following company standards, communicating clearly, taking ownership of your actions, being dependable, acting with professionalism, and having faith in and respect for your coworkers are all characteristics of ethical workplace behavior. These examples of moral conduct ensure the maximum level of productivity at work.
Conflict Resolution Techniques for the Workplace include: Talk about it with the other person. Pay more attention to events and behavior than to individuals. Take note of everything. Determine the points of agreement and disagreement. Prioritize the problem areas first. Make a plan to resolve each issue. Don't forget to execute your plan. Extend on what you accomplished.
An organisational assessment is a thorough analysis of a company's policies, circumstances at work, and organisational structure. It is a diagnostic tool that emphasises the company as a whole rather than any specific employee. An organizational evaluation is not a quick fix or temporary fix.
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“Automation is bad for the economy because machines will eventually replace almost all human workers, creating high unemployment and poverty.” Do you agree or disagree? Explain your answer.
Answers
I agree that "automation is bad for the economy because machines will eventually replace almost all human workers, creating high unemployment and poverty". This is because with automation, most jobs will be done by machines and robots. This will leave a large percent of human workers jobless.
What is Automation?Automation may result in job losses and wage reductions. Be aware that those who can operate machines are thought to be more productive than those who cannot.
Keep in mind that automation tends to reduce both the costs and prices of goods and services, making consumers feel richer while also causing certain human skills to be lost.
Accordingly, the following abilities will be lost as automation is implemented:
A. Communication Skills.
B. Social Skills.
C. Critical Thinking
D. the application of imagination and reflection.
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If the quantity demanded of sunglasses decreases by 2% when average incomes fall by 10%, then we know that sunglasses are a) an inferior good. b) a normal good. c) a Giffen good. d) perfectly elastic.
Answers
There are different kinds of goods. If the quantity demanded of sunglasses decreases, it shows it is a normal goods.
What is income Elasticity Of Demand?Note that all good or service has a particular Income Elasticity Of Demand that can often change over time. The Income Elasticity Of Demand is known to be how sensitive the quantity demanded for a specific good is due to the changes in income levels.
A normal good is known to be a good that undergo an increase in its demand as a result f an increase in consumers' income. Examples are; clothing, household appliances, etc.
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In the aggregate demand-aggregate supply framework, how does an increase in the price level affect potential GDP and why?
Answers
In the broadest sense, a rise in aggregate demand corresponds with an increase in the price level; conversely, a reduction in aggregate demand corresponds with a lower price level (and assumes ceteris paribus circumstances).
How do the GDP and price level are impacted by aggregate demand?Real GDP rises and the price level falls along the AD curve. In other terms, AD is incline. The AD curve will fluctuate in response to changes in price level.
What impact does the magnitude of price rise have on overall demand?The aggregate demand components of consumption, investment, and net export will all decline at the higher price level; thus, there will be a decrease in the overall quantity of goods and services demanded but no change in the aggregate demand curve.
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Effective and carefully planned mission statements:
A) require major changes every few months.
B) require major changes every few quarters.
C) require major revision every few years.
D) do not require revision.
E) require infrequent major changes, but are always subject to revision.
Answers
Effective and carefully planned mission statements require infrequent major changes but are always subject to revision.
What are mission statements?
The mission statement of an organization succinctly states the reason for its operations, its ultimate goal, the kind of product or service it provides, its target market or clients, and the region in which it operates. It might contain a succinct description of important concepts like an organization's beliefs or philosophy, its key competitive advantages, or its "vision" for the future. It has historically been connected to Christian religious organizations; in fact, for many years, a missionary was thought to be someone on a mission that was especially religious. The Jesuits' sending of missionaries abroad is where the term "mission" first appeared in 1598.
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*Will award Brainliest if right!*
A two-party check is made payable to:
a. both the patient and the provider
b. both the provider and the payer
c. both the patient and the payer
d. two different payers
Answers
Answer:
https://quiz let.co m/96700748/chapter-4-flash-cards/
Explanation:
Link above provides answers
( Don't copy paraprashe)
Answer:
[A] both the patient and the provider
Explanation:
I need the answer please help
Answers
As given that the taxable state income for the year is $70,000, the applicable tax rate is 5.5%, thus, the tax payable is $3,850.
What does a progressive tax means?A progressive tax is one in which the tax rate rises in proportion to the taxable amount. The term progressive refers to the manner in which the tax rate rises from low to high, resulting in a taxpayer's average tax rate being less than the person's marginal tax rate. The term can refer to either individual taxes or an entire tax system.
We are given that the taxable state income for the year is $70,000. Note that for this salary range, the tax rate of 5.5% is applicable.
Tax payable is computed as:
= $70,000 * 5.5%
= $3,850
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Prepare a comparative income statement for any company extracting their P&L statement for the years 2020-21 & 2021-22. Analyse the incline and decline in the different elements in the P&L Statement and provide detailed insights.
Answers
Answer:
this is my own answer
Explanation:
hi
How to Prepare a Comparative Income Statement?
Step 1: Specify absolute figures of items like goods sold, net sales, selling expenses, etc., relating to the accounting period under consideration for analysis.
Step 2: Calculate the absolute change in the items mentioned in the income statement.
Susan Nicholson sells home furnishings. She is paid an 8% commission on the first
$2,000 worth of sales, 10% on the next $2,500, and 15% on all sales over $4,500. What
is her commission on $4,910 worth of sales?
Answers
Let A = Sales Amount
Basic income (B) = 1600
Rate (R) = 4%
Commission (C) = 4*A/100
Total monthly income (T) = 2487.84
T = B + C
T = B + 4A/100
2487.84 = 1600 + 4A/100
2487.84 - 1600 = 4A/100
887.84 = 4A/100
(887.84)/4 = A/100
A= (221.96)*100
A= 22196
So, the sales amount was $22.196, which is the answer.
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It is enough to describe the proposed business as a sole proprietorship in the business description
section. True or False?
Answers
It is enough to describe a proposed business as a sole proprietorship in the business description section alone. Therefore, it's logically true.
A sole proprietorship simply refers to a form of business where there's only one owner who controls the business. Such a person bears the profit and the loss of the company alone.
It should be noted that it is enough to describe a proposed business as a sole proprietorship in the business description section alone. This is because it's usually a small business and owned by one person.
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