What term is used to describe the characteristic of a business entity where an individual(s) associated with an entity can not only lose all of his/her investment in the firm but personal assets can be taken to pay the debts of the firm if necessary? Group of answer choices unlimited liability limited liability dissolution mutual agency

Q: dentify each of the following characteristics as being an advantage or a disadvantage of the…

A: A business can be formed and run in different forms. Some of the popular forms are sole…

Q: Which of the following is false regarding a sole proprietorship? The owner has unlimited personal…

A: There are several forms of business organisation, in which businesses can be run and maintained.…

Q: which of the which of the following statements always apply to corporations a. unlimited liability…

A: A business can run through several legal types and forms. Some of the popular forms in which a…

Q: A basic principle of accounting that requires activities of an entity be kept separate from the…

A: The principles of accounting, also known as Generally Accepted Accounting Principles (GAAP). It…

Q: If Firm A's business is to obtain savings from individuals and then invest them in financial assets…

A: Financial intermediary: It is a firm that goes about as the agent between two parties in financial…

Q: ofit

A: Note : As per the bartelby guidelines only first question will be answered. Kindly post the…

Q: If an individual forms a sole proprietorship, which nontax factor will be of greatest benefit to the…

A: Sole proprietorship: It is one of the form of business organization. In sole proprietorship only…

Q: Explain or ellaborate. Limited Liability — Shareholder's liability is limited to the extent of…

A: A corporation is a form of business which enjoys some special features like limited liabilities of…

Q: a) What an associate is and explain the accounting requirements relating to having an associate and…

A: Companies invest money into another company and that company in which the investment is made becomes…

Q: 1.The rule that requires financial statements to reflect the assumption that the business will…

A: Accounting principles are those principles as well as standards or guidelines which the corporations…

Q: How would the sole owner of a profitable firm rank the following methods of receiving ownership…

A: A sole proprietorship is a form of business organization under which there is only one owner and he…

Q: What are the similarities and differences between a limited company and a sole trader's statement of…

A: Organization- The organization is the process of identifying and gathering work to be done,…

Q: Which one of the following is the least likely reason a company may acquire an ownership interest in…

A: An acquisition occurs when a company acquires most of the shares of another company by making a huge…

Q: Which of the following is not an advantage of the corporate form of business organization? a)…

A: Introduction:- Corporation is a Legal entity. Shareholders are the owners of the organisation.

Q: Identify the advantages of forming a business as an S Corporation. Multiple Choice O O owners avoid…

A: An S corporation is a separate legal entity that elects to be taxed under sub chapter S of chapter 1…

Q: Which of the following is true of limited liability companies ? a) They protect the members…

A: Limited liability company is a type of a company wherein the owners are not personally for liable…

Q: Raising large amounts of capital is more difficult for a partnership than for a corporation. (True…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: What would increase the liabilities of a business entity? Please provide specific examples. 2. What…

A: The liabilities are the amount to be paid by the business in future period.

Q: Identifying advantages and disadvantages of a corporation Following is a list of advantages and…

A: Corporation: The form of business entity ,which is incorporated by state law into a separate legal…

Q: Please help with this Accounting type Question: Which of the following is not the purpose of…

A: The following are the reasons of admission of a new partner:1. Capital infusion: One of the most…

Q: When operating as a proprietary business, which of the following is true? Select one: a. All debt…

A: Option “D” is true.

Q: This business starts with relatively small amount of capital and the owner proprietor is only person…

A: The business may be started with one person or multiple persons.

Q: Setting up a business as a corporation has the following benefits   a)  Separation of ownership…

A: Setting up corporation has the following benefits: 1.  Separation of ownership and management:…

Q: It is a type of business combination wherein an investor, having an existing involvement in the…

A: In general sense business combination is an obtaining of control on the other enterprise  The most…

Q: Which partners in a business have limited risk only to their investment? a. General partners b.…

A: Answer - Correct Option is Option b. Limited partners

Q: What is a disadvantage of the corporate form? O Profit O Revenue Owners have very little influence…

A: Eliminating the incorrect options:A. Profit: Profit is not a disadvantage of the corporate form of…

Q: d ho

A: Agency relationship : An agency connection can be understood as the fiduciary relationship in which…

Q: shareholders' claims on assets and income of a firm come_____ those of creditors _______those of…

A: Preferred shares have fixed dividend payments that are to be paid by company. Preferred share…

Q: 1) What does the phrase ‘company limited’ means in a business name? 2)Explain why a sole trader…

A: A business entity having its name ending with company means that the company and the owners are…

Q: Shareholder value is defined as a. A company's value utilized prevailingly by creditors  b. A…

A: Shareholder value is the value which is the increased worth generated by a business for its…

Q: What financial statements are not for profit organizations required to issue? Compare them to what a…

A: A nonprofit organization (NPO) is an organization that is not motivated by profit but rather by…

Q: Decide which of the following statements are true. I. In most circumstances, the owners of…

A: Answer : Option (a).One is true is correct.

Q: A limited partner will: a. Manage the firm b. Discount the bills c. Invest capital only in the firm…

A: A limited partnership exists when two or more partners go into business together, but the limited…

Q: Which of the following is closest to IFRS 3 Business Combinations definition of control?   A company…

A: In accordance with IFRS 3, the Definition of “control”  An investor controls an investee when the…

Q: Businesses can be classified into the following forms: sole proprietorship, partnership,…

A: Choosing the right sort of business takes significant research and thought and It's beneficial to…

Q: Conceptual Framework and Reporting Standard: Small and Medium Sized Enterprise 1. In SME, borrowing…

A: IFRS for SMEs provide Conceptual Framework for Small and Medium Sized Enterprise

Q: Which type of business will most likely have problems with insufficient funds for business? Sole…

A: Partnership is an arrangement by two or more parties to manage and operate a business and share its…

Q: Many businesses are set up as limited companies. These are owned by shareholders and run by the…

A: Limited company means company limited by shares.

Q: Match each corporate characteristic 1 through 8 with the description that best relates to it.…

A: Solution:- Match each corporate characteristic 1 through 8 with the description that best relates to…

Q: According to the principle of Conservatism it is defined that when There are many ways to determine…

A: Principle of conservatism is a principle which lets the company to play safely means the income…

Q: What does it mean for a company to be a legal person and what does it mean for owners of a company…

A: A company is an association of people that has its own legal existence and is incorporated with a…

Q: Which of the following characteristics of a corporation limits a stockholder's loss to the amount of…

A: The question is asking about the characteristic of a corporation that protects a stockholder from…

Q: Which of the following is the primary element that distinguishes accounting for corporations from…

A: A partnership firm is a constitution wherein two or more individuals come together and join hands to…