SLO-2.3. Which of the following is an advantage of a soleproprietorship?OThe owner has unlimited liabilityOThe business ceases to exist when the owner diesOThere is a limit to the amount one person canborrowOProfits are taxed as individual income

A business organization is a legal entity incorporated for carrying out commercial activities. These…

Answered: SLO-2.3. Which of the following is an…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

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Under federal law, a tax exempt Health Savings Account can only be opened for an individual who is Ο Α. covered by a qualified High Deductible Health Plan covered by Long Term Care Insurance entitled to Medicare benefits eligible to be claimed as a dependent on another person's tax return B. OC. O D.
2. A business without proper business plan will be one geared towards Jailure. 3. Outline the FIVE steps in process for the registration of an Early Childhood Institution with the Early Childhood Commission.
What it is talking about? 1. Incorporation of a company Ø Minimum number of shareholders and directorsEvery company requires at least one member, a director and a company secretary. Have at least one director who is a natural person (s457) Ø Effects of incorporation The company is capable of exercising all the functions of an incorporated company (e.g. separate legal entity, artificial person like entering into contracts in its own name, or taking legal action against other), and has perpetual succession. On and after the date of incorporation, the founder members, and any other persons who may from time to time become the company’s members, are liable to contribute to the assets of the company in the event of the company being wound up as is mentioned in Cap. 32.èLimited Liabilities
82) Which of the following is an example of an action done by a firm to conduct structuring? a) Stock buy-back b) Leveraged buy-out c) Either A and B d) Neither A nor b
3. With respect to foreclosure, give the reason you agree or disagree with the statements below: a. A foreclosure sale eliminates the outstanding debt(s) of the individual being foreclosed. b. Proceeds of a foreclosure sale are distributed to those holding a lien on the property on the basis of the percentage of total debt each is owed. c. Foreclosure means the senior mortgage loan lender automatically takes ownership of the property.
REA Associations Bentley Restorations Company restores and sells top-end classic and antique automobiles. Most of its customers are private collectors, but some are investors who buy multiple cars and hold them for resale. Bentley extends no credit terms. All sales are for cash. 1. Which of the relationships in the diagram models the entity associations for Bentley Restorations? 2. Explain your answer:
After a complaint was filed against him, Broker Ike was found guilty of a license law violation. He was fined and had to pay legal fees totaling $8,900. This was paid by the Recovery Fund. What else is likely to happen to Broker Ike? . The FREC can issue a citation and the Ike's license becomes involuntary inactive. O The FREC will suspend the Ike's license until the fund has been repaid in full. O The FREC declares Ike's license null and void. The FREC will revoke the Ike's license.
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3. Regulation of private pension plans Which of the following are provided by federal regulations of private pension plans? Check all that apply. Insurance of all participants in private defined-benefit plans to receive their benefits upon retirement Transferability of vested pension funds upon a change of employment Insurance of only executive employees participating in private defined-benefit plans to receive their benefits upon retirement Insurance of all participants in private defined-contribution plans to receive their benefits upon retirement Tax benefits only for executive employees Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powers
Provide the criteria on how a medical policy must satisfy before a taxpayercan claim a deduction for Premium for insurance for medical benefits undersubsection 49(1B) Income Tax Act 1967. Please give explaination breifly with example
P&G PHI M LIFE An AIA Group Company MERALCO SAN MIGUEL CORPORATION Assessment Wite true if the statement is correct and write false if not Al crporaters are subsribers but subsuribers need not be an incorporator 2. The Corporate Treasurer of a corporation must be a director. Death of shareholder will not dissalve the corporation 4 A corporation can come into existence by mere agreement of the parties as in the case of partnerships S Acorporation is created by agreement of the sharehalders. The paid-up capital of a Plippine corporation must not be less than Php S00.00. 7Any Individual shareholden in a corporation may personally be held lable for all debts Inuered by the corporation L Al incerporators are corporators of a corporation. S A corporatlen has continulty of existence which permits the business to continue epardiess of changes in ownership or the death of shareholders 10 Acorportatien or a partnership can be a Incorporator but not a corporator. 11. Corparate Secretary must be a…
Answer in detail ..... Business law question . what are the circumstances in which premium is returnable by the insurer ?

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SLO-2.3. Which of the following is an advantage of a sole proprietorship? OThe owner has unlimited liability OThe business ceases to exist when the owner dies OThere is a limit to the amount one person can borrow OProfits are taxed as individual income