Types of Business Ownership

Similarities

Differences

Sole trader/proprietorship

Jensen Automotive produces alternators for American-made cars. They generally use a static budget with the following costs based on 8,000 units per month: Indirect materials, $22,000; indirect labor, $25,000; utilities, $12,000; supervision, $4,000;

Internationally diversified firms: a. are more likely to produce below-average returns for investors in the long run. b. may need to decrease international activities when domestic profits are poor. c.

What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage?

Which statement best explains why businesses do marginal analysis?

You're an entrepreneur and had a great idea to sell shoes that have springs installed in them to make walking easier. However, the development costs were so high that the shoes are priced 15 times higher than shoes without springs.

Knorr issues 1,000 shares of $2 par value common stock for $10 per share. The journal entry to record this transaction will include which of the following?

joan made deductible contributions to traditional retirement accounts for several years. in 2018 she decided to withdraw $10,000 from one of her accounts. joan is 62 years old how does this transaction affect her 2018 tax return

If bond interest expense is $800,000, bond interest payable increased by $8,000 and bond discount decreased by $2,000, cash paid for bond interest is: a.$790,000. b.$784,000. c.$806,000. d.$910,000.

Peter calls his friend Lily to borrow $500. On the side of a box, Peter writes and signs a note stating he will pay back the $500 as long as Lily allows him to use her car until he gets a job.

The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Sales $ 42,800 Current assets $ 17,500 Long-term debt $ 37,000 Costs 35,500 Fixed assets 68,300 Equity 48,800 Taxable income $ 7,300 Total $ 85,800