Ask Question
BusinessBusiness
18 February, 00:56

Broker A is a sole proprietor. He quits business and goes to work under Broker B. Whose responsibility is it to keep Broker A's previous records?

+5
Answers (1)
  1. 18 February, 03:07
    0
    Broker A is responsible for safekeeping previous records up to 4 years in the past.

    Explanation:

    Even if broker A decided that it was best for him to start working for broker B, he/she is still responsible for safekeeping all the previous records (up to 4 years) when he worked by himself/herself. The same applies if broker B had acquired broker A's business (a sole proprietorship is a type of business).
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Broker A is a sole proprietor. He quits business and goes to work under Broker B. Whose responsibility is it to keep Broker A's previous ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Refer to Exhibit 8.3 and determine which of the following terms matches this definition: the risk that the auditor will conclude that the state of internal controls is effective when internal controls are actually not effective. a.
Answers (1)
Sales volume plays a large role in determining per unit costs in the cost-plus pricing approach. a. True b. False
Answers (1)
Definition: This type of investment account has a specific fixed term/length, fixed interest rate, is insured by the FDIC, and is very low risk to consumers.
Answers (1)
During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date Transaction Number of Units Unit Cost Total Cost Jan.
Answers (1)
The Anson Jackson Court Company (AJC) currently has $200,000 market value (and book value) of perpetual debt outstanding carrying a coupon rate of 6%. Its earnings before interest and taxes (EBIT) are $100,000, and it is a zero growth company.
Answers (1)
New Questions in Business
When comparing the three broad types of economic systems, it can be said that for a pure market economy to function efficiently, product supply must be restricted.
Answers (1)
Agency problems are most associated with: Multiple Choice 1. limited liability companies. 2. limited partnerships. 3. corporations. 4. sole proprietorships. 5. general partnerships.
Answers (1)
Timothy works for a company that pays employees in his position $12 per hour to work but also pays for medical and dental coverage, a 401K retirement plan, and a week of paid vacation.
Answers (1)
Which of the following is not one of the factors holding companies back from implementing HR SaaS solutions to efficiently transform and improve the HR function? a. Securityb. Quality of servicec. Concern about integration with inhouse applicationsd.
Answers (1)
JLK is a partnership that was formed two years ago and has been extremely successful thus far. The owners have decided to incorporate and offer shares of stock to the general public. What is this type of an equity offering called?
Answers (1)
Home » Business » Broker A is a sole proprietor. He quits business and goes to work under Broker B. Whose responsibility is it to keep Broker A's previous records?
Sign Up Forgot Password?