Which of the following is a disadvantage of a sole proprietorship?

A) ?The owner is personally liable for the debts of the firm.
B) ?The firm is subject to double taxation.
C) ?The profits of the firm have to be shared between its members.
D) ?The costs of formation of the firm are more compared to other business forms.


A

Business

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Retail price competition is generally greatest in which stage of the traditional product life cycle?

a. introduction b. competition c. growth d. maturity

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Which component below is the first step in the organizational design process?

a. Renewing the design b. Gathering data c. Understanding the business climate d. Evaluating the design

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It is not necessary to incorporate the mission statement in everything the organization does.

a. True b. False

Business

Caleb Auto Parts Company uses the indirect method to prepare its statement of cash flows

Refer to the following portion of the comparative balance sheet: Caleb Company Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase (Decrease) Cash $42,000 $36,000 $6,000 Accounts Receivable 62,000 70,000 (8,000 ) Merchandise Inventory 106,000 50,000 56,000 PP&E, net 240,000 180,000 60,000 Total Assets $450,000 $336,000 $114,000 Additional information provided by the company includes the following: Equipment costing $104,000 was purchased for cash. Equipment with a net book value of $20,000 was sold for $28,000. Depreciation expense of $24,000 was recorded during the year. Prepare the investing activities section of the statement of cash flows. What will be an ideal response

Business