1. Which of the following characteristics of a sole proprietorship would be considered a disadvantage? Owner controls the business decisions. Losses are limited to owner's investment Easier to set up Fewer regulations

1. Which of the following characteristics of a sole proprietorship would be considered a disadvantage? Owner controls the business decisions. Losses are limited to owner's investment Easier to set up Fewer regulations

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 2MC: Stakeholders are less likely to include which of the following groups? A. owners B. employees C....

See similar textbooks

Related questions

Q: Need Correct answer so please provide Solutions

A: c. Residual Income for the Investment Opportunity:Residual income indicates the profit earned above…

Q: Indicate where each item would appear on a statement of cash flows using the indirect method by…

A: The Statement of Cash Flows is a report that shows the cash inflows and cash outflows for the…

Q: True Masons budgeted costs for 30,000 linear feet of the block are: Fixed manufacturing costs…

A: To determine the budgeted total manufacturing costs for March, we need to calculate both the fixed…

Q: A5 please help

A: In accounting, a debit is an entry that either increases an asset or expense account, or decreases a…

Q: You have been asked to manage the manufacturing operations for the custom order division of a…

A: 1. **Raw Materials Inventory**: - **Types of Materials**: Track the quantity and types of raw…

Q: At the beginning of the year, Quaker Company's liabilities equal $55,000. During the year, assets…

A: Step 1:Step 2:Step 3: Hope this helps!

Q: Answer with proper explanations

A: Steps a)Basis EPS=(Net income-Preferred dividend)/Weighted average number of equity sharesPreferred…

Q: want correct answer so please provide

A: Step 1: Get the total overhead costs which shall be allocated. (2000000+1000000=3000000) Step 2: The…

Q: The following information is for X Company's two products, A and B, last year: Product A…

A: First, we need to calculate the change in profit if Product A is dropped. To do this, we need to…

Q: need help with this question

A: Step 1:Calculating the Company's EquityThe debt-to-total-assets ratio is given as 44%, which means…

Q: Question:1 Presented is information related to Rogers Co. for the month of January 2010. Ending…

A: 1. Account TitleDebitCreditInventory21,000 Cost of Goods Sold 21,000This entry adjusts the Cost…

Q: need answer this question without AI please provide it

A: a) DuPont Analysis-The DuPont analysis is a performance measurement approach established by the…

Q: Attept all

A: The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Here's how to account for the lease on December 31, 2024, for Cullumber Corporation:Concepts:Lease…

Q: Want Answer of this Question

A: Reference:Horton, M. (2023, August 26). What Are the Components of Shareholders' Equity?…

Q: The partnership of Ace, Ball, Eaton, and Lake currently holds three assets: Cash, $10,000; Land,…

A: so, ParticularsAceBallEatonLakeReported balances$25,000$28,000$20,000$22,000Maximum losses on land…

Q: Help follow out pls

A: To compute the variable cost of electricity per occupancy day and fixed cost of electricity per…

Q: A5 please help......

A: To calculate the allowable depreciation for Evergreen Corporation's assets in the current year,…

Q: EagleEye Expeditions provides guided tours in scenic mountainous areas. After the first 11 months of…

A: Step 1:NaStep 2: Step 3: Step 4:

Q: The contribution margin ratio of Thronson Corporation's only product is 69%. The company's monthly…

A: Reference: Break-Even And Target Income - principlesofaccounting.com. (2021, October 7).…

Q: Pureform, Incorporated, uses the weighted-average method in its process costing system. It…

A: Detailed explanation: 1) In the weighted average method we use units completed and transferred out…

Q: Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed…

A: To address the requirements, let's start by filling in the table with the given data.Total Cost…

Q: PAGE 11 ACCOUNTING FOUATION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Widmer Company had…

A: Step 1:na Step 2: Step 3: Step 4:

Q: Question: the post-closing trail balance of two proprietorships on Jan 1 2022 are presented below…

A: Journal entries S.no.Accounts title and explanations Debit $Credit $ a.Cash 17000 Accounts…

Q: Chrome File Edit View History Sbis- Google Search x Bookmarks Profiles Tab Window Help M Chapter 2…

A: Number 1.December income statement.STEP 1: calculate total revenuetotal revenue =consulting revenue…

Q: St. Joseph's Hospital began operations In December 2019 and had patient service revenues totaling…

A: First, we need to calculate the amounts to be billed to third-party payors and patients. The total…

Q: D e Chrome File Edit View History Bookmarks Profiles Tab Window Help bjs-Google Search xiConnect -…

A: Reference:Conrad, S. (2023, March 25). Journal Entries | Examples | Format | How to Explanation. My…

Q: Give a real life example of a sole trader and make an accurate cash flow forecast and statement and…

A: Approach to solving the question: Detailed explanation: Examples: Key references:…

Q: Frick Company began the accounting period with $60,000 of merchandise, and the net cost of purchases…

A: Cost of Goods Sold CalculationTo calculate the cost of goods sold (COGS) for Frick Company, use the…

Q: want answer please

A: Given information, Contribution margin = $49,200Operating income = $25,200 Calculate the degree of…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: The question about financial ratios for American Eagle and Buckle. Let's tackle this step-by-step.1.…

Q: n The following selected information is available for Pretty Pets Inc. for the most recent three…

A: The Current Ratio is a liquidity ratio that measures a company's ability to pay short-term…

Q: Oct. 31. Declared semiannual dividends of $1.60 per share on the preferred stock and $0.13 per share…

A: To journalize the transactions, I will go through them one by one.Jan. 8. Split the common stock 3…

Q: Beginning Assets were $437,600, Beginning Liabilities were $262,560, Common Stock sold during the…

A: Step 1:1)To find the Beginning Equity for the year, we need to use the accounting equation:…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Step 1: To compute for total goods available for sale, get the sum of the cost of beginning…

Q: Bakely Company reports the following information (in millions) during a recent year: net sales,…

A: Step 1: Calculation of Average Total AssetsAverage Total Assets = (Beginning Assets + Ending Assets)…

Q: Question: On January 1, 2016, Stephen Corp., a lessor, signed a direct financing lease. Stephen was…

A: Here is the Solution

Q: Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely…

A: The Net Present Value (NPV) is the difference between the present value of cash inflows and the…

Q: SS Stores has total debt of $4,910 and a debt-equity ratio of 0.52. What is the value of the total…

A: Here's how to calculate the total assets of SS Stores:Debt-to-Equity Ratio: The debt-equity ratio…

Q: The following Data relates to Stephanie Garner, a resident taxpayer. Stephanie derives income from a…

Q: The cost of goods sold for Frye Manufacturing in the year was $373,000. The January 1 Finished Goods…

A: Step 1: The cost of goods manufactured can be calculated using the formula for the price of goods…

Q: Question 1 Partnership Formation On 1st July 2024 Eva and Fred form a partnership agreeing to value…

A: Part 2: Explanation:Step 1: General Journal Entries- In the formation of the partnership, Eva…

Q: Question: Donnelly Company has three products, R2, R4, and R2D2. The following information is…

A: To determine the effect on operating income if Donnelly Company discontinues Product R2D2 and rents…

Q: Suppose that for 2010 Aquarius company's current assets totaled $60,000; total assets totaled…

A: Step 1: Introduction to the Debt-to-Equity Ratio:The debt-to-equity ratio is a financial ratio that…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Step 1:Construction cost 2025 = 3,855,000Step 2:Step 3: Step 4:

Q: A5 please help........

A: a. Cost Variance Analysis for Each Variable Cost Direct IT Specialist Services Standard…

Q: want answer please provide it

A: Step 1: Manufacturing Overhead:Manufacturing overhead costs are indirect expenses paid for the…

Q: On Jan. 1, XYZ started a new business. The shareholders made an initial cash investment of…

A: Step 1: Introduction to the Accrual Basis of Accounting:A corporation may use accrual accounting, a…

Q: An analyst is comparing two pharmaceutical companies, Abraham Inc. and Branson Corporation. Both…

A: First, we need to understand the scenario. We have two companies, Abraham Inc. and Branson…

Q: Required information Exercise 13-10A (Algo) Recording supplies and identifying their effect on…

A: Transactions to RecordServices Provided on Account:Amount: $19,000Journal Entry:Accounts Receivable…

Question

Which of the following characteristics of a sole proprietorship would be considered a disadvantage?

	Owner controls the business decisions.
	Losses are limited to owner's investment
	Easier to set up
	Fewer regulations

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

What advantages does a sole proprietor offer? What is a major drawback of this type of organization?
A common disadvantage of a sole proprietorship is a) that the owner must share profits with others. b) double taxation of earnings. c) the limited life of the business. d) difficulty starting the business.
One of the disadvantages associated with sole proprietorships is that: raising working capital is difficult. acquiring total ownership of the business's finances is not easy. O creating a sole proprietorship is a complicated process. obtaining licenses and permits is difficult. making autonomous business decisions is difficult.
Which one of the following is the least likely reason a company may acquire an ownership interest in another company? Select one: a.To benefit form an overvaluing of assets in the investee company b. To oust an inefficient management team c. To take advantage of operating and/or cost synergies d. To exercise an active role in the business' activities
What can be stated about a business with negative owner equity? How did this scenario get to be this way?
What are some of the conflicts that can arise when a company is owned by group of shareholders but managed by a different group of people? How could you reduce the significance of these conflicts?
Which of the following is NOT the weaknesses of sole proprietorship? Manakah di antara berikut BUKAN kelemahan perniagaan milikan tunggal? Select one: A. Limited skills and capability /Keupayaan dan kemahiran terhad B. Do not have proper financial record /Tidak memiliki rekod kewangan yang baik C. Unlimited liability /Liabiliti tidak terhad D. Business information can be kept confidential /Maklumat perniagaan tidak perlu didedahkan
12. The principal-agent problem is best defined as: Select one: When the person managing the business for an owner, acts in accordance with the owner's interests When the person managing the business and the person who owns the business are not aligned on the activities of the business When the person managing the business for an owner, acts in a manner that improves the financial well-being of the owner When the person managing the business for an owner, acts in a manner that benefits the shareholders
Which of the following objectives of the company creates immoral practices such as: corrupt practice, unfair trade practice, etc.? Select one: A. None of the given options B. Profit Maximization C. Welfare Maximization D. Wealth Maximization
Which of the following is false regarding a sole proprietorship? The owner has unlimited personal liability for the firm's debts It is difficult to transfer ownership It is somewhat complex to form and operate Its life is limited to the life of its owner
A benefit of a sole proprietorship is that liability is limited to that of the business financial and assets not the personal assets of the owner/proprietor. true or false
Stakeholders are less likely to include which of the following groups? A. owners B. employees C. community leaders D. competitors