what grounds would gasstop use to argue for piercing the veil?
Answers
Gasstop argued for: piercing the veil between Seatwo LLC and the court did not agree with Gasstop's argument.
Gasstop argued for piercing the veil between Seatwo LLC and the Smalls on the grounds of inadequate capitalization and the close relationship between the members (Small, his wife, and their child).
They claimed that Seatwo was undercapitalized with only $500 in contributions from its members, which made it difficult to meet its financial obligations.
Additionally, the close familial relationship among the members suggested that the LLC was not a separate entity from the Smalls.
However, the court did not agree with Gasstop's argument. The court found that the capital contributions and loans were reasonable for a startup business, and that the family relationship did not necessarily mean that the LLC was an extension of the Smalls' personal affairs.
Therefore, the veil was not pierced, and the Smalls were not held personally liable for Seatwo's remaining lease payments.
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Complete question:
Lawrence Small formed Seatwo LLC to operate a Burger King restaurant in Wyoming. Seatwo was capitalized by $500 of contributions from its three members: Small, $250; his wife, $125; one of their children, $125. Gasstop Two LLC owned real prop-erty, which it leased to Seatwo beginning June 2000. The payments would total almost $1 million over the term of the lease. Seatwo also borrowed $350,000 to obtain furniture and equipment for the new Burger King operation and had a $15,000 line of credit. Un-fortunately, Seatwo never turned a profit and ceased operations in October 2003 due to its poor location and lack of customers. Despite operating at a loss, Seatwo had made rental payments to Gasstop until it ceased business in 2003. Gasstop sued Small and his wife for the remaining $237,000 payments under the lease, arguing that the veil should be pierced between the LLC and the Smalls.
What grounds did Gasstop use to argue for piercing the veil?
Did the court agree with Gasstop?
Related Questions
A new business has total sales of $7,500 and cost of goods sold is $3,733. What is the gross margin from sales?
Answers
Answer:
i think its 0.50:1
Explanation:
A gross profit margin of 0.33:1 means that for every dollar in sales, you have 33 cents to cover your basic operating costs and profit.
Some business owners will use an anticipated gross profit margin to help them price their products. While other factors -- such as competition and demand -- may play into pricing decisions, a gross profit margin is a good starting point for product pricing. For example, if a product costs $8 to produce, and your gross profit margin is 20 percent, you can calculate your pricing by dividing your cost by (1 - 0.2). In this case, $8 divided by .8 would yield a price of $10.
You can also use your gross profit margin ratio to help you set and monitor sales goals for your company.
Because costs for raw materials, labor and manufacturing expenses all play into your profit margin ratio, a change in this ratio over time could mean it's time to look for new suppliers or review your pricing structure.
If a new business has total sales of $7,500 and cost of goods sold is $3,733. The gross margin from sales is: $3,767.
Gross marginUsing this formula
Gross margin=Total sales -Cost of goods sold
Where:
Total sales=$7,500
Cost of goods sold=$3,733
Let plug in the formula
Gross margin=$7,500-$3,733
Gross margin=$3,767
Therefore the gross margin from sales is: $3,767.
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Consider palletizer at a bottling plant that has a first cost of $156,249, has operating and maintenance costs of $12,795 per year, and an estimated net salvage value of $58,243 at the end of 30 years. Assume an interest rate of 8%. What is the future worth of this project?
Answers
The future worth of the palletizer project is $144,974.24.
To calculate the future worth of the project, we need to consider the initial cost, annual operating and maintenance costs, salvage value, and the interest rate. The future worth represents the equivalent value of all cash flows at a future point in time, taking into account the interest earned or paid.
In this case, the initial cost of the palletizer is $156,249, and it has annual operating and maintenance costs of $12,795. These costs are incurred each year for 30 years. At the end of the project's life, there is an estimated net salvage value of $58,243.
To determine the future worth, we discount the annual costs and the salvage value back to the present value using the given interest rate of 8%. This accounts for the time value of money, recognizing that a dollar received in the future is worth less than a dollar received today.
By summing up the present values of the costs and salvage value, we find that the future worth of the palletizer project is $144,974.24. This represents the equivalent value of all cash flows considering the initial investment, operating costs, and salvage value, taking into account the interest rate over the project's duration.
Therefore, the future worth of the palletizer project is $144,974.24.
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Bhat and Cho do business as Data Security, a partnership. In most states, for the purposes of collecting judgments and having accounting performed, this firm would be treated as
Answers
The fact that the business that Bhat and Cho do as Data Security, means that for the purpose of collecting judgements and having accounting performed, most states would treat the firm as an independent entity.
What is an independent entity?An independent entity is one that does not get counted along with the assets of its owners or partners. In other words, it is independent of the affairs of its owners and is treated as having its own identity.
In this case, the Data Security partnership that Bhat and Cho have will be treated as a separate entity from them which makes it an independent entity.
This is purely for the purpose of collecting judgement and having proper accounting records kept. And even at that, not all states in the United States will require this.
In conclusion, this is an independent entity.
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The issuance of notes payable for borrowing is classified in the statement of cash flows as a(n): Multiple Choice Operating activity. Investing activity. Financing activity. Noncash activity.
Answers
The transaction of the issuance of notes payable for borrowing will be classified in cash flows statement as a Financing activities.
Under the statement of Cash-flow, the financing activities section records all transactions that involves long-term liabilities, owner's equity etc.
Hence, the transaction of the issuance of notes payable for borrowing will be classified in cash flows statement as a Financing activities.Therefore, the Option C is correct.
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Miguel is trying to decide what luggage to buy. He has a choice of brown or black, wheels or no wheels, and small, medium, or large.
What is the probability of Miguel buying a large black piece of luggage with wheels?
Answers
The probability of Miguel buying a large black piece of luggage with wheels is 1/12.
When you perform the calculations, you would find out that you would have to multiply the variables and possible chances of occurrence and the answer is 1/12.
What is Probability?This refers to the chance of an event occurring and this is based on several factors.
Hence, we can see that The probability of Miguel buying a large black piece of luggage with wheels is 1/12.
When you perform the calculations, you would find out that you would have to multiply the variables and possible chances of occurrence and the answer is 1/12.
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digitel is a mobile devices company. unit sale price if the mobile device is $84 and the unit variable cost is $24. the accounting break-even and the financial break-even points of digitel are 240,000 units and 280,000 units respectively. if we hold everything else the same and only increase the annual fixed costs by $1,200,000, what would be the new accounting and financial break-even points?
Answers
Answer: 2,000,000
Explanation:
The new accounting break-even point is 300,000 units while the new financial break-even point is 360,000 units.
The accounting break-even point is the point at which the total revenue equals the total costs, while the financial break-even point is the point at which the total revenue equals the total costs plus the desired profit.
To calculate the new accounting and financial break-even points, we need to take into account the increase in fixed costs.
To calculate the new accounting break-even point, we add the increase in fixed costs ($1,200,000) to the old accounting break-even point (240,000 units).
So the new accounting break-even point is 240,000 + 1,200,000 / (84 - 24) = 300,000 units.
To calculate the new financial break-even point, we add the increase in fixed costs ($1,200,000) to the old financial break-even point (280,000 units).
So the new financial break-even point is 280,000 + 1,200,000 / (84 - 24) = 360,000 units.
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Jackie has determined some possible careers that would suit her include being a photographer, a graphic artist, a web designer, or a visual merchandiser. What is the next step Jackie should take in the decision-making process? a. Analyze resources b. Make a decision c. Define wants and needs d. Gather information Please select the best answer from the choices provided A B C D.
Answers
The correct statement is that the next step to be taken by Jackie should be analyzing the resources available in his hands for decision-making of his career. So, the correct option is A.
The analysis of resources can be done by following the process of carefully taking into consideration, the resources that are accessible by Jackie during the entire course of pursuing the career.
What is a decision-making process?A decision-making process is used for deriving at conclusion after taking into consideration the plans, options and the resources that are favorable for accomplishments of such task.
The next step that is to be taken in the decision-making process is to analyze the resources that can be accessed by such person so that a conclusion is derived.
In the case of Jackie, he must take into account the resources that he has for deciding his careers like admission fee, infrastructure, knowledge of the field, etc. and decide the most favorable field.
Hence, the correct option is A that the next step to be taken by Jackie should be analyzing the resources available in his hands for decision-making of his career.
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Answer: D
Explanation:
I took the test and selected A and got it wrong. D. gather information
please help
Why is engaging communication a two-way process?
Answers
Answer:
Two-way communication allows both participants to exchange ideas, they can develop a sense of mutual understanding. The result is a better relationship between them. Increase effectiveness
Effective communication depends on the proper understanding of the message by the sender and receiver.
Explanation:
Hope you can helpAnswer ASAP
An entrepreneur wants to start a bakery. He wants to make a sales forecast for his first six months in business, so he obtains the sales records for all the successful bakeries in his state and uses the monthly average for his forecast. What mistake is he making in this process? A. It is impossible to make an accurate sales forecast for a new business, and attempting to do so will only set him up for failure and disappointment. B. He should not use data from bakeries in his own state, as it is unlikely that they will report accurate estimates to their potential competitor C. He should be looking at sales records for all the successful bakeries in the country, not just in his state. D. It is not likely that he will be able to match the sales volume of successful, established bakeries in his first six months.
Answers
The Mistake is he making in this process it is not likely that he will be able to match the sales volume of successful, established bakeries in his first six months. The correct option is D.
What is the importance of sales forecasting?A precise sales forecast enables businesses to efficiently allocate resources for future growth while also managing cash flow. Forecasting sales help create benchmarks for future trends and allow executives to make early course corrections. Revenue executives can optimize for more wins by aligning sales quotas with revenue goals.
Make a list of the products and services you offer. Estimate how much of each you anticipate selling. Define the unit price or monetary worth of each sold good or service. Divide the number of units sold by the price. Determine the cost of producing and selling each commodity or service.
Thus, the ideal selection is option D.
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Answer:
option d
Explanation:
it is not likely that he will be able to match the sales volume of successful, established bakeries in his first six months
According to the video, what tasks are commonly performed by Farmworkers instead of by machines? Select three
options.
weeding
Opruning
preparing soil
transplanting
planting
Answers
Answer:
A: weeding
B: pruning
D: transplanting
Explanation:
trust me i just did it
enjoy :)
Question 4 (1 point) One of the C's of credit that has to do with the ability, means, income and resources to repay the debt: capacity circumstances collateral creativity
Answers
The C of credit that pertains to the ability, means, income, and resources to repay the debt is capacity. The Option A.
What is the C of credit that encompasses repaying the debt?Capacity is a crucial factor in assessing creditworthiness. Lenders evaluate a borrower's capacity by examining their income, employment stability, existing debts, and financial resources. This analysis helps determine whether the individual or entity has the capability to meet their repayment obligations.
A higher capacity indicates a greater likelihood of timely debt repayment, which increases the borrower's creditworthiness. Lenders may consider factors such as income stability, debt-to-income ratio, and overall financial health when evaluating capacity.
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Statement:
During the years immediately after world war 1, Germany, Russia and Turkey give examples of new styles of government that would be copied in various forms around the globe during the rest of the century.
suggest in 200-250 words why that style might have been chosen:
(1. How was New Russian Government different to the style of Russian government used before World War 1?
2. What social or economic or political problem did it seem to be trying to fix most?)
Answers
The years that followed after World War I saw the emergence of different styles of government that have been copied in different forms across the world. Examples of these new styles of government that emerged include Germany, Turkey, and Russia.
1. Russia was under an autocratic system before World War I, where the Tsar had absolute power over the people. During the war, there were many complaints from the people, including the lack of food and other essential resources.
2. The Tsarist system created a vast gap between the rich and the poor, which the new government aimed to address. The new government wanted to create a society where everyone would be equal. This was achieved through the introduction of socialism.
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A toy merchant's display of a doll house in a store window for $100 constitutes?
Answers
The toy merchant's display of a dollhouse in a store window for $100 constitutes an invitation to treat.
An invitation to treat is a term used in contract law to describe a situation where a party is inviting others to make an offer to enter into a contract. In this case, by displaying the dollhouse in the store window with a price tag of $100, the toy merchant is indicating that they are willing to consider offers from potential buyers.
However, an invitation to treat is not a legally binding offer. It is merely an invitation for customers to negotiate or make an offer to purchase the item at the stated price. The toy merchant retains the right to accept or reject any offers made by customers.
Once a customer expresses their willingness to purchase the dollhouse at the advertised price, it would typically be considered an offer. The toy merchant can then choose to accept the offer, creating a legally binding contract between the customer and the merchant.
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Holy macaroni! That's Almost It!
We're done with the four habits of millionaires-to-be.
Do you remember what the habits were? Let's see...
Check the sentences that best describe the "Big Four
Habits."
And you'll see this question again in the test
. You're not quite there yet. Try again.
Virtually all of the 7 million millionaires in the United States
never had to think about tomorrow, since they knew they would be
rich.
were always thinking ahead.
wanted their money to work for them.
wanted to store their money under the bed.
were looking forward to buying a lot of nice toys.
assumed all sellers were telling the truth.
learned how to make smart decisions by doing their homework.
always paid their cell phone first.
always paid themselves first.
Answers
Answer:
2,3,7 and the last one
Explanation:
Just had the same question and went back into the lesson to look . THESE TAKE FOREVER HAHA
Seven million millionaires in U.S :
we're always thinking ahead.wanted their money to work for them.learned how to make smart decisions always paid themselves first.Who are millionaires?Millionaires are those individuals who have a net worth that is equal to or are then one million units of currency.
These people include businessmen that have own business and own large amount of shares in other companies. The millionaires networth and financial assets also contribute to the nation's GDP.
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Explain how the Related Information buttons provide researchers with an efficient researching capability.
Answers
The Related Information buttons are an excellent tool that provides researchers with a more efficient research capability. These buttons help to identify and locate additional information that is related to the topic being researched.
When a researcher clicks on one of these buttons, it automatically takes them to a page that contains more information about the subject matter. One of the primary benefits of these buttons is that they help to save time and effort by eliminating the need for researchers to perform additional searches for related information. Additionally, they provide a more comprehensive view of the topic by presenting information from multiple sources. This allows researchers to see different perspectives and gain a deeper understanding of the topic. Another advantage of the Related Information buttons is that they help to eliminate the need for the researcher to sift through irrelevant information.
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sarah is audrey's client. sarah calls audrey and tells her that she can show her home next weekend to an interested potential buyer. what is this an example of?
Answers
Sarah is audrey's client. sarah calls audrey and tells her that she can show her home next weekend to an interested potential buyer. This is an example of a lead in the real estate industry.
A lead is a potential customer or client who has expressed an interest in a product or service. In the real estate industry, a lead is often someone who is interested in buying or selling a property.
In this case, Sarah is Audrey's client and she has informed her of an interested potential buyer who wants to view her home.
As a real estate agent, Audrey's goal is to find and convert leads into clients by helping them buy or sell properties.
Therefore, this lead from Sarah is valuable information for Audrey as it presents a potential opportunity to help her client sell her home to the interested buyer. Audrey may follow up with Sarah to obtain more details about the interested buyer and to schedule a viewing of the property.
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in reaching a decision, the alternative with the lowest cost should be ranked number 1. T/F
Answers
False. When making a decision, the alternative with the lowest cost is not always ranked number 1.
Other factors such as quality, feasibility, and impact on stakeholders also need to be considered. Sometimes a slightly more expensive alternative may be a better choice in the long run because it has higher quality or it can produce greater benefits for the stakeholders.
It is important to consider all relevant factors and weigh them against each other before making a decision. Additionally, the cost of an alternative may not be the only financial consideration. Factors such as opportunity costs, hidden costs, and potential returns on investment should also be evaluated.
Therefore, a detailed analysis of all alternatives is needed before making a decision. This will ensure that the chosen alternative is the best option considering all relevant factors and will lead to the most effective and efficient outcome.
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A manager who is reactive and works hard to address problems after they occur is known as a . (a) problem seeker (b) problem avoider (c) problem solver (d) problem manager
Answers
Answer:
(c) problem solver
Explanation:
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.
Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.
Hence, a manager who is reactive and works hard to address problems after they occur is known as a problem solver.
This ultimately implies that, a problem solver proffer solutions to a problem after it has occurred already. Problem solver are reactive rather than being proactive by preventing or mitigating the possibility of a problem arising.
Your friend has been accepted into her #1 choice for college. She’s so excited that she doesn’t bother looking at her financial aid package and wants to confirm her spot right away. What do you tell her and why?
Answers
you should say that although you are beyond ecstatic for her, financial aid is vital for many who are applying to colleges. This could harm her in the long run if she continuously ignores the situation. It could create debt that she may not be able to pay off for many years so it is best that she looks into the financial aid plan before securing a spot
It's natural to be excited and want to confirm her spot right away, but I would suggest that she take the time to review her financial aid package before making any decisions.
What is importance of financial aid package?It's important to understand the financial commitments and obligations that come with attending college, as it can have a significant impact on her future finances. By reviewing the financial aid package, she can get a better understanding of the costs of attending the college and the amount of financial aid she'll receive, including scholarships, grants, and loans.
If she doesn't take the time to review the financial aid package, she may end up with unexpected costs and debt that could have been avoided. It's important to make an informed decision about college and ensure that it's a financially sound decision.
Therefore, I would advise your friend to take the time to review her financial aid package and understand the costs and obligations of attending her dream college before confirming her spot.
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fill in the blank. Holt Computer Services received $200 from a customer that it had billed earlier in the month. Illustrate how to record the transaction to the T-accounts by completing the following sentences.
Accounts receivable would be ________(debited/credited) on the _____________(left/right) side of the T-account, and Cash would be ___________(debited/credited) on the __________(left/right) side of the T-account.
Answers
Accounts receivable would be credited on the right side of the T-account, and Cash would be debited on the left side of the T-account.
Cash would be deducted from the T-left account's side, while Accounts Receivable would be credited to the right side. This is because when a company receives payment from a customer, the company's accounts receivable account is decreased (credited) and the company's cash account is increased (debited).
The T-account is a visual representation of a company's accounts, with the left side representing debits and the right side representing credits. Therefore, the transaction would be recorded as a credit to accounts receivable on the right side of the T-account and a debit to cash on the left side of the T-account.
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two of the biggest disadvantages of the corporate form of business are government regulation and corporate is called
Answers
The corporate form of business does have its disadvantages. Two of the biggest ones are government regulation and the "corporate veil."
Government regulation refers to the rules and laws that corporations must follow, which can be complex and time-consuming to navigate. This can lead to additional costs and potential legal issues if a corporation fails to comply with these regulations. Additionally, the "corporate veil" can shield individual shareholders and managers from personal liability for the corporation's debts and actions.
While this can provide a level of protection, it can also allow corporations to engage in unethical or illegal activities without fear of personal consequences. Furthermore, the "corporate veil" can also make it difficult for individuals to hold corporations accountable for their actions, as it can be challenging to determine who is ultimately responsible for the corporation's decisions. Overall, while the corporate form of business can have many advantages, it's essential to be aware of these disadvantages to make informed decisions about which business structure is right for your organization.
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Wavetel, a hardware company based in Europe, acquires Telior, its competitor in a neighboring country. Identify the market-entry strategy that best describes Wavetel's move. Joint venture Direct foreign investment Franchising Indirect exporting
Answers
Answer:
Direct foreign investment.
Explanation:
A foreign direct investment commonly used by abbreviation FDI refers to a cross border investment in a business venture by a firm or individual of the country. In a broad sense, FDI occurs when a stockholder establishes overseas business activities or possesses foreign stock holdings in a foreign firm. FDI is a crucial component of global economic development since it establishes secure and long term trade linkages. FDI is an essential factor for the transfer of technology and infrastructure development and between different nations of the world. As per the question, Wavetel acquires a business firm in a neighboring country and it is a classic example of FDI.
Preparation of Statement of Cash Flows
The accountant for Consolidated Enterprises Inc. has just finished preparing a consolidated balance
sheet, income statement, and statement of changes in retained earnings for 20X3. The accountant
has asked for assistance in preparing a statement of cash flows for the consolidated entity.
Consolidated Enterprises holds 80 percent of the stock of Separate Way Manufacturing. The following
items are proposed for inclusion in the consolidated cash flow statement:
Decrease in accounts receivable $ 23,000
Increase in accounts payable 5,000
Increase in inventory 15,000
Increase in bonds payable 120,000
Equipment purchased 380,000
Common stock repurchased 35,000
Depreciation reported for current period 73,000
Gain recorded on sale of equipment 8,000
Book value of equipment sold 37,000
Goodwill impairment loss 3,000
Sales 900,000
Cost of goods sold 368,000
Dividends paid by parent 60,000
Dividends paid by subsidiary 30,000
Consolidated net income for the year 464,000
Income assigned to the noncontrolling interest 14,000
Prepare in good form a statement of cash flows for Consolidated Enterprises Inc. using the indirect
method of computing cash flows from operations.
Direct Method Cash Flow Statement
Using the data presented, prepare a statement of cash flows for Consolidated Enterprises
Inc. using the direct method of computing cash flows from operating activities.
Answers
According to the indirect method's statement of cash flows for Consolidated Enterprises Inc., $575,000 in net cash was generated by operational activities.
This is computed by subtracting several adjustments from the $464,000 in consolidated net income for the year, such as depreciation, gain on equipment sales, goodwill impairment losses, changes in accounts receivable, inventory, and accounts payable. The purchase of equipment and the revenues from its sale resulted in a net cash outflow of $343,000, according to the cash flows from investment activities. The buyback of common stock and payment of dividends by both the parent and subsidiary are shown to have resulted in a net cash outflow of $5,000 in the cash flows from financing operations. Cash has increased by $227,000 in total. According to the direct method's statement of cash flows for Consolidated Enterprises Inc., $434,000 in net cash was generated by operational activities. This is determined by adjusting the numerous cash inflows and outflows, such as cash from sales, cash spent on inventory, cash used for operational costs, interest, and cash paid for income taxes. The purchase of equipment and the revenues from its sale resulted in a net cash outflow of $343,000, according to the cash flows from investment activities. The buyback of common stock and payment of dividends by both the parent and subsidiary are shown to have resulted in a net cash outflow of $5,000 in the cash flows from financing operations. Cash has increased by $86,000 in total.
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within the swot framework, which dimensions reflect internal vs. external factors?
Answers
The SWOT framework includes four dimensions that represent internal and external factors.
The internal factors are strengths and weaknesses, which refer to the company's internal resources, competencies, and limitations. The external factors are opportunities and threats, which refer to external environmental conditions that are outside of the company's control.
Strengths and weaknesses reflect the internal characteristics of the company and its resources. Strengths are the qualities or characteristics that give the company an advantage in the market and in achieving its objectives, while weaknesses are the limitations that may prevent these objectives from being met.
Examples of strengths include a talented workforce, a strong brand, and financial resources. Examples of weaknesses include high debt levels, outdated technology, and lack of market knowledge.
Opportunities and threats reflect the external factors. Opportunities are external conditions that provide the company with a chance to grow and expand, while threats are external conditions that could have a negative effect on the company.
Examples of opportunities include new markets and technological advancements, while threats include competitors, regulatory changes, and economic downturns.
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What type of business makes physical goods that customers can see or touch?
Internet service provider
banking industry
manufacturing industry
commodities industry
Answers
Manufacturing industry, type of business makes physical goods that customers can see or touch. Thus, option (c) is correct.
The term business refers to the earning the profit. The business is the taking the risk and the earning the profit. The business are the mainly focuses to the activity of the creating, distribution and selling concept based.
Manufacturing industry is a type of business that can produced the goods (product) are tangible form. Manufacturing industry produced two types of goods such as consumer goods and industrial goods. Customer can easily touch and feel the product.
As a result, the significance of the type of business makes physical goods that customers can see or touch are the aforementioned. Therefore, option (c) is correct.
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If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would be most helpful?
A.
Statement of owners' equity
B.
Cash flow statement
C.
Balance sheet
D.
Income statement
Answers
Answer:
The answer is D. Income statement
Explanation:
Answer:
D. income statement
Explanation:
i took the test
Your calendar year company completes a $6,000 job, of which $1,000 has been received by year end and credited to Revenue. If you discover before the books are closed that no adjusting entry was made, your correcting entry will: debit Accounts Receivable for $6,000 credit Revenue for $5,000 credit Accounts Receivable for $5,000 debit Revenue for $5,000
Answers
If you discover before the books are closed that no adjusting entry was made, your correcting entry will B. credit Revenue for $5,000.
How to correct the entry ?Even though the entire $ 6, 000 has not been received by year's end, this amount still needs to be recorded thanks to the Accrual basis of Accounting.
The $ 5, 000 which remained will go to revenue in the Income statement and the same amount will go to Accounts Receivable as a debit to show that the services have not been paid for. This would ensure that the $ 5, 000 is recorded for the year the services happened.
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the similarities of African countries
Answers
The similarities between African countries are:
Background on Agriculture in Africa
Despite the great potential for agricultural production in Africa,UNDP states that about 73% of the poor people living in rural areas subsist on less than a dollar a day.In addition, the continent has about 200 million of the world’s hungry people (Millennium Development Goals (MDGs) Technical Support Centre.Furthermore, available statistics suggest that about one-third of the continent’s population is malnourished.Africa is also the only continent where food production has been falling over the years.One of the maximum famous suggestions for the origins of the time period 'Africa' is that it's far derived from the Roman call for a tribe living in the northern reaches of Tunisia, believed to possibly be the Berber human beings. The Romans variously named these human beings 'Afri', 'Afer', and 'If'.
It is brimming full of big things. As the second biggest continent in the world, Africa is jam-full of a number of the world's biggest things: the biggest desolate tract within the globe, the Sahara wilderness (explore it on our Morocco itineraries). The longest river in the world, the Nile River, runs for 6,853km (4,258mi).
Luxembourg is a small, landlocked U. S . Positioned in western Europe and bordered by means of Belgium, France, and Germany. With a population of 642,371, Luxembourg is the simplest Grand Duchy in the world. Its GDP in keeping with a capita of $a hundred and forty,694 makes it the sector's richest.
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Differences between savings account and current account
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Answer:
A Savings account is where you put in money not to use right now but later on.
A Current Account is where you deposit your money to use for everyday uses like groceries, clothes, bills and other expenses.
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Marvel decided that since viewers like to binge-watch an entire season of a show in one sitting on netflix it would create a new channel for getting new offerings to consumers. This reflects a ________ strategy.
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The decision by Marvel to start up a new channel based on what it noticed at Netflix is the Product Development strategy.
Product Development strategy Method used by companies to offer new products to customers. Involves looking at current products to develop newer and better ones.Marvel looked at the product being offered by Netflix and decided to use it to offer an even better product by opening a channel.
In conclusion, this is product development.
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