Proprietorships are not separate legal entities; their earnings are taxable to the owners and not to the business itself.
Answer the following statement true (T) or false (F)
True
Individuals, not the proprietorship, pay taxes on the earnings of sole proprietorships.
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The owner of an amusement park is considering installing a new ride. The ride would cost $10,000, produce an estimated net cash flow of $1,575 annually, and last for nine years. a. Assuming an interest rate of 10 percent, what is the present value of the net cash flows expected from the ride? Use future value and/or present value tables in calculating your answer. b. Should the ride be purchased?
Which of the following is an appropriate time to pause in your speech?
a. Before starting b. In the middle of a main idea c. While presenting a piece of evidence for a subtopic d. During the conclusion of the speech
The Allowance for Doubtful Accounts has a debit balance of $3,000 at the end of the year (before adjustment), and Bad Debt expense is estimated at 2% of net sales. If net sales are $600,000, the amount of the adjusting entry to record the provision for doubtful accounts is ________
a. $1,200 b. $7,000 c. $13,000 d. $12,000
Firms that focus on market growth often ______.
a. locate their facilities in reasonable proximity to the new market that they are planning to enter b. relocate the manufacturing plant to be closer to shifting market areas c. ensure that the product packaging is frequently redesigned to accommodate new markets d. identify new sources of raw materials closer to new markets