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1. Many household services professionals such as carpenters, plumbers, and electricians do business as sole proprietors. If they make a promise to their customers that their work (not the products themselves) will be free from defects for a certain period of time (i.e., a warranty), and then subsequently sell their business assets to another individual, is the buyer bound by the promises made by the seller? Why or why not?
2. D.b.a. statutes prohibit sole proprietors from using certain words such as "company," "Corp." or "Inc." in their fictitious names. Why do you think this rule exists?
3. If a sole proprietor dies suddenly, what do you think happens to the business run by the sole proprietor?
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The Florida lottery agrees to pay the winner 280,000 at the end of each year for the next 20 years. What is the future value of this prize
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During October, 10,850 units were sold. Vaughn uses a periodic inventory system. Determine the cost of goods available for sale.
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Sub-Prime Loan Company is thinking of opening a new office, and the key data are shown below.
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Don gave his daughter Donice land worth $100,000 (he had previously given $14.000 which used his annual gift tax exclusion). The land cost Don $50,000 three years ago. Doniee subsequently sold the land to friend Fannie for $100,000 in cash and $20..
For both March and June, estimate the amount of manufacturing overhead cost added to production. The company had no underapplied or overapplied overhead in either month.
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