It presents assets, liabilities, and equity of an entity. It is one of the three most important financial statements of an entity.
The given financial statements of Plymouth Incorporated and Studebaker Incorporated at December 31, 2018 are: The statement of financial position is also known as the balance sheet. It reports an entity's financial position at a specific date. It presents assets, liabilities, and equity of an entity. It is one of the three most important financial statements of an entity.
The statement of financial position of Plymouth Incorporated at December 31, 2018 is:
STATEMENT OF FINANCIAL POSITION as at December 31, 2018 Plymouth Inc. $Assets $Liabilities & Equity Cash $15,000 Accounts payable $25,000 Accounts receivable 10,000 Loan payable 40,000 Equipment 80,000 Capital stock 30,000 Retained earnings 10,000 $105,000 $105,000The statement of financial position of Studebaker Incorporated at December 31, 2018 is:
STATEMENT OF FINANCIAL POSITION as at December 31, 2018 Studebaker Inc.$Assets $Liabilities & Equity Cash $20,000 Accounts payable $30,000 Accounts receivable 15,000 Loan payable 50,000 Equipment 90,000 Capital stock 20,000 Retained earnings 5,000 $125,000 $125,000
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arthur's parents own a home appliances business. his parents along with his three older brothers manage the business together. they want arthur to help with the business once he graduates. arthur has agreed to join the family business without putting much thought into this decision. in this scenario, arthur is in the status of identity referred to as
Arthur is in the status of identity referred to as: Identity foreclosure.
Foreclosure status of identity: This is the position of identity development in which a person has not been through a personal exploration process and has only agreed to follow in the footsteps of his or her family, and the individual's commitment to a given status is based only on what others have informed them about that status.
The foreclosure status of identity is associated with the propensity to take on the beliefs and expectations of others without questioning them, and it is usually observed among individuals from traditional cultures where conformity is valued over individualism.
This is a permanent way to integrate personal beliefs and views with the surrounding social environment. Thus, Arthur has foreclosed on his identity because he has agreed to join his family's business without any consideration.
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What does an invasion biologist study?
help me
Answer:
Invasion biology deals with invasive species. If an “invasive” species is defined as a species that spreads to the detriment of economic interests and public health, however, invasion biology could not be easily distinguished from pest management and public health sciences.
Explanation:
What can affect whether banks or other financial insututions are
interested in offering an individual a loan?
A. Financial knowledge
B. Personal credit
C. Financial experience
D. Business credit
Answer:
B. Personal credit if it is a personal loan
D. If the individual applies to start a business
Explanation:
Typically Financial institutions extend loans based on "credit worthiness" (or credit score) of the individual and can be extended based on whether the individual has an asset to secure the loan. Lack of an asset can have a negative result (dependent upon the amount requested) if the loan request is for a large amount of money.
tina secured a loan with a semiannually compounded interest rate. the annual interest rate is 10% compounded over five years. based on this information, what is the interest rate per compounding period?
To find the interest rate per compounding period, we first need to determine the number of compounding periods in a year for a semi-annual compound interest rate. Therefore, the interest rate per compounding period for the loan is 2.44%.
Since semi-annual means twice a year, there are 2 compounding periods in a year. Next, we can use the formula for compound interest to find the interest rate per compounding period:
A = P(1 + r/n)^(nt)
where:
A = the total amount
P = the principal
r = the annual interest rate
n = the number of times the interest is compounded per year
t = the number of years
We are given that the annual interest rate is 10% and the loan is compounded semi-annually over 5 years. Therefore, we have:
r =/ 10% = 0.10
n = /2 (compounded semi-annually)
t = /5
Substituting these values into the formula, we get:
A = P(1 + r/n)^(nt)
A = P(1 + 0.10/2)^(2*5)
A = P(1.05)^10
Now, we can see that the factor (1 + r/n) is equal to (1.05), which means that the interest rate per compounding period is:
r/n = (1.05)^(1/n) - 1
Since n = 2 for semi-annual compounding, we have:
r/n = /(1.05)^(1/2) - 1
r/n = /0.0244 or 2.44%
Therefore, the interest rate per compounding period for the loan is 2.44%.
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PART B Answer this question using an essay format.You are expected to include a minimum of two in-text citations and a reference list Evaluate the advantages and disadvantages of an individual, or small group of people (two or three), starting a new business. Evaluate if the best business model for them to use would be becoming a franchisee or if they should adopt a different type of business legal structure,such as a partnership. (1,000 words,50 marks
Starting a new business can be both exciting and terrifying. Although starting a new business can be a great way to make money, there are risks associated with it. In this essay, we will evaluate the advantages and disadvantages of an individual or a small group of people starting a new business.
We will also evaluate whether becoming a franchisee or adopting a different type of business legal structure such as a partnership is the best business model for them.
Advantages of starting a new business:
Ownership: The most significant advantage of starting a new business is ownership. Starting a new business provides you with the opportunity to be your boss and be in charge of your company's growth and development.
Flexibility: Starting a new business also offers flexibility. You have the freedom to choose your work hours and the projects you want to work on, which can be a great benefit if you are looking for a work-life balance.
Personal satisfaction: Starting a new business provides a great sense of personal satisfaction. When you start a business, you are creating something from scratch, which can be incredibly rewarding.
Disadvantages of starting a new business:
Risk: Starting a new business is risky. You need to put a lot of money, time, and effort into your business, which means that you may lose all of it if your business doesn't succeed.
Lack of security: Starting a new business offers no security. You don't have a regular paycheck or a safety net if things go wrong. This can be stressful and overwhelming. It can be especially challenging if you have a family to support.
Competitive market: Starting a new business in a competitive market can be challenging. You need to stand out from the competition to succeed, which can be challenging if you have limited resources.
Now that we have evaluated the advantages and disadvantages of starting a new business let us look at whether becoming a franchisee or adopting a different type of business legal structure such as a partnership is the best business model for them.
Franchisee: One advantage of becoming a franchisee is that you have a proven business model. You don't have to spend time and money developing a new business model. This means that you can start earning profits right away. Another advantage of becoming a franchisee is that you have a support network. The franchisor provides you with training, marketing support, and ongoing support to help you succeed. However, becoming a franchisee also has its disadvantages. You have limited control over your business. You need to follow the franchisor's rules and regulations, which can be limiting. You also need to pay a percentage of your profits to the franchisor, which can eat into your profits.
Partnership: One advantage of adopting a partnership structure is that you share the risks and rewards with your partner. This means that you have someone to share the workload and responsibilities. Another advantage of adopting a partnership structure is that you have more funding options. You and your partner can pool your resources to fund the business. However, adopting a partnership structure also has its disadvantages. You need to share your profits with your partner. You also need to ensure that you and your partner share the same goals and values, which can be challenging.
In conclusion, starting a new business has its advantages and disadvantages. Becoming a franchisee or adopting a partnership structure can be a great business model, depending on the individual or small group's preferences and goals.
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four years after its "near-death experience", what agency had regained all the funding it lost and the agency’s budget has held roughly steady at over twice the original level through 2015?
Four years after its "near-death experience," the agency that had regained all the funding it lost and maintained a budget over twice its original level through 2015 is the National Aeronautics and Space Administration (NASA).
After facing significant budget cuts in the early 2000s, NASA made a remarkable recovery and regained its funding. The agency's budget was gradually restored, allowing it to resume its ambitious space exploration and research programs. Since then, NASA's budget has remained relatively stable, consistently surpassing its original funding level.
NASA's resurgence can be attributed to several factors. First, there was a growing recognition of the agency's vital role in advancing scientific knowledge, technological innovation, and national security. NASA's successful missions, such as the Mars rovers and the Hubble Space Telescope, garnered public support and demonstrated the value of space exploration.
Additionally, political support played a crucial role in securing funding for NASA. Various administrations and lawmakers recognized the importance of investing in space exploration as a means to drive economic growth, inspire future generations, and maintain the United States' leadership in space technology.
Furthermore, public-private partnerships, such as the Commercial Crew Program, have helped to offset costs and foster collaboration with commercial space companies. These partnerships have allowed NASA to focus its resources on more ambitious projects while stimulating the growth of the private space industry.
Overall, NASA's recovery and sustained funding levels can be attributed to a combination of public support, political backing, successful missions, and strategic partnerships. These factors have enabled the agency to continue its mission of advancing scientific knowledge and exploring the frontiers of space.
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buyer's remorse is also known as . group of answer choices evoked set cognitive dissonance black box consumer behavior market segmentation
Buyer's remorse is also known as cognitive dissonance.
Buyer's remorse, sometimes known as buyer's guilt, is a sense of regret or uneasiness experienced by a customer after making a purchase, especially a costly one. Buyer's remorse can be accompanied by feelings of guilt, stress, and disappointment. Buyers' remorse is common and usually goes away on its own after a few days.
Cognitive dissonance, often known as psychological discomfort, is a psychological condition characterized by a sense of discomfort or stress caused by the presence of two or more conflicting cognitions. When one's beliefs or behaviors do not align with their expectations or other beliefs, cognitive dissonance arises. The notion of cognitive dissonance was first introduced by Leon Festinger in 1957, and it has since become one of the most well-known principles in psychology.
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what is the term for when businesses produce goods and services that consumers do not want
Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
what is the answer to this question?
Answer:
I think it's c hope it help
Explanation:
c
When decision making is delegated to lower-level managers and employees more familiar with local conditions than top managers it is called:_________
Decentralization is the process of moving decision-making authority down the organizational hierarchy, giving lower-level employees more responsibility and authority to make and execute decisions.
An organizational structure in which decision-making authority is delegated to subordinate managers who are more familiar with local conditions than those at headquarters. Optimal number of subordinates that a manager oversees or should oversee.
Organizations that use traditional hierarchical structures rely on vertical chains of command as the primary way to organize employees and their responsibilities.
Employee privileges increase as they move up the hierarchy. If you need leadership, you also need authority. Authority ensures that everyone under the manager's command is working toward organizational goals or facing discipline.
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4. For what purposes might a worker need to fill out a Form 4070A?
Answer:
Employees use Form 4070A to keep track of the tips they receive from customers and report the total to their employer each month. Workers should also record the total amount of tips they paid to other employees and the names of employees to whom the tips were paid.
supplies expense amount owed for supplies purchased on account supplies supplies drop zone empty. accounts payable amount used and reported on the income statement amount remaining and reported on the balance sheet
The supplies expense represents the amount owed for supplies purchased on account, which is reported on the income statement. The accounts payable account is used to track the amount owed for supplies and is reported on the balance sheet as a liability.
Supplies expense is an account that represents the cost of supplies consumed or used by a business. When supplies are purchased on account, meaning the business has received the supplies but has not yet made the payment, the cost of these supplies is recorded as an expense on the income statement. The supplies expense is reported as part of the operating expenses section of the income statement, which shows the costs incurred to generate revenue during a specific period.
On the other hand, accounts payable is a liability account that tracks the amount owed by the business to its suppliers for purchases made on credit. When supplies are purchased on account, the accounts payable account is credited to record the increase in the amount owed. The accounts payable balance is reported on the balance sheet as a current liability, reflecting the amount that the business owes to its suppliers as of the reporting date.
In summary, the supplies expense represents the amount owed for supplies purchased on account and is reported on the income statement, while the accounts payable account is used to track the amount owed and is reported on the balance sheet as a liability.
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is it ethical or unethical to cheat on your taxes? Explain why or why not
Answer:
it would be unethical to do that because you are breaking the law
Answer:
It would be unethical.
Explanation:
coconutoil2217 is correct, it would be unethical to cheat on your taxes.
A firm has $832 in inventory, $1690 in fixed assets, $642 in accounts receivable, $394 in net working capital, and $219 in cash. What is the amount of current liabilities?
A. $2087
B. $1255
C. $1299
D. $1080
E. $858
A firm has $832 in inventory, $1690 in fixed assets, $642 in accounts receivable, $394 in net working capital, and $219 in cash. The amount of current liabilities is 1299. Answer choice C is correct.
We can use the formula for net working capital (NWC) to find the amount of current liabilities:
NWC = Current assets - Current liabilities
Rearranging the formula gives:
Current liabilities = Current assets - NWC
We are given that:
Inventory = $832
Fixed assets = $1690
Accounts receivable = $642
Net working capital = $394
Cash = $219
To find current assets, we need to add up inventory, accounts receivable, and cash:
Current assets = Inventory + Accounts receivable + Cash
Current assets = $832 + $642 + $219
Current assets = $1693
Now we can use the formula for current liabilities:
Current liabilities = Current assets - NWC
Current liabilities = $1693 - $394
Current liabilities = $1299
Therefore, the amount of current liabilities is $1299. Answer choice C is correct.
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On July 1, Robles Metal Products had a beginning inventory of $505,700. During the quarter, goods costing $290,900 were manufactured. The inventory at the end of September was $485,300. During the quarter, Robles' net sales were $759,200. What was the cost of goods sold for the quarter? What was Robles's gross profit for the quarter?
Answer:
Instructions are below.
Explanation:
Giving the following information:
beginning inventory= $505,700
Cost of goods manufactured= $290,900
Ending inventory= $485,300
Net sales= $759,200.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 505,700 + 290,900 - 485,300
COGS= $311,300
Now, we can determine the gross profit:
Gross profit= net sales - COGS
Gross profit= 759,200 - 311,300
Gross profit= 447,900
In which market would a producer sell bicycles to consumers?
In the markets for goods and services, a producer would sell his bike for purchase by customers.
What is the market for goods and services?Consumers buy consumables on the products and services market, and firms sell their commodities there. The market encompasses physical stores, the Internet, and any other location where consumers can exchange products and services.
The trading of finished goods takes place here. Businesses receive payment from customers in exchange for goods. The consumer gives money to the business in a flow. In contrast to this, enterprises can buy the materials they need on the factor market to make an item.
The rule of supply and demand governs how much is produced and at what price in the market for products and services.
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Adding functions after the project has been initiated causes ________, often resulting in the time frame and expenses associated with the project expand beyond the agreed-upon limits.
Adding functions after the project has been initiated causes scope creeps, often resulting in the time frame and expenses associated with the project expand beyond the agreed-upon limits.
Write about scope creep.Scope creep is the process through which a project's scope expands or "creeps" past what was initially agreed. Change is nearly always a certainty in projects, but mismanaged changes are what lead to delays and scope creep.
How is scope creep recognized?Before you begin, create a detailed project plan that will make it much simpler to identify and manage scope creep. Discuss the duties, due dates, milestones, and commitments that concern both you and your client. Together, create a detailed action plan that will allow you to accomplish the project's goal.
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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.
Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.
While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.
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Your friend has two investment opportunities that she is considering and has asked for your advice regarding how she should proceed. One will have an 7.0% rate of return on an investment of $510; the other will have a 9.0% rate of return on an investment of $630. She would like to take advantage of the higher-yielding investment but has only $510 available.
Required:
What is the maximum rate of interest that your friend should be willing to pay to borrow the $120 needed to take advantage of the higher yield?
1. The maximum rate of interest your friend should be willing to pay to borrow the $120 needed to take advantage of the higher yield is approximately 7.2%.
2. To calculate the maximum rate of interest, we need to find the difference in returns between the two investment options. The higher-yielding investment offers a 9.0% rate of return, while the lower-yielding investment offers a 7.0% rate of return. The difference is 9.0% - 7.0% = 2.0%.
Since your friend has $510 available but needs an additional $120 to invest in the higher-yielding option, the interest paid on the borrowed amount will be the difference in returns, which is 2.0% of $120. So, 2.0% of $120 is $2.40.
To find the maximum rate of interest, we divide the interest paid ($2.40) by the amount borrowed ($120) and multiply by 100. This gives us (2.40/120) * 100 = 2%.
Therefore, the maximum rate of interest your friend should be willing to pay is approximately 2.0%.
3. your friend should be willing to pay a maximum interest rate of approximately 2.0% to borrow the $120 needed for the higher-yielding investment, in order to make the most of the higher return opportunity.
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Which people in government and public administration act as first responders during emergencies?
Law enforcement professionals, such as ________, act as the country’s first responders during emergencies, such as natural disasters.
Answer:
see below
Explanation:
Law enforcement professionals, such as firefighters, emergency medical technicians (EMT's), state police offices, and paramedics, act as the country's first responders during emergencies and natural disasters. The U.S. marshals, deputy marshals, and the military may also be called depending on the gravity of the disaster.
The law enforcement professionals' core mandate is to protect citizen's lives and property. During emergencies, law enforcement agencies are always called upon to execute their mandate with speed and the utmost care.
what must be true of the correlation for there to be no benefit gained from diversification?
The benefits of diversity diminish as the correlation coefficients between the returns in each area rise. There is no benefit from diversity if there is a perfect correlation between returns and the correlation coefficient is one. Here's how correlation coefficient is defined:
Positive correlation describes a relationship where a rise in one variable is followed by an increase in another. It is known as a negative correlation when one variable increases while another decreases. When a change in one variable is perfectly reflected by a change in another, the connection is said to be in perfect correlation. Modern portfolio theory suggests that to increase diversification, you should spread your risk across several asset classes.
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Which statement best summarizes the relationship between investments and
productivity?
A. Companies with high levels of productivity never need to worry
about investment.
B. Companies use investments to reduce their need for high levels of
productivity.
C. Companies with poor productivity use investments to become
more efficient
D. Companies use investments to reduce the opportunity cost of loy
productivity
SUBMIT
PREVIOUS
Answer:
The answer is D
Explanation:
companies invest to make money without using high levels of productivity
Which best describes a central bank’s primary goals?
Limiting inflation and reducing unemployment.
Reducing unemployment and maintaining cash flow.
Controlling stagflation and reducing unemployment.
Managing credit and ensuring the money supplies liquidity.
Answer: A-limiting inflation and reducing unemployment
Explanation: edeg2020
The primary goal of the central bank of a country is to:
Limiting inflation and reducing unemployment.What is the central bank?The central bank is the highest bank of the country. This is the bank that is in charge of all other banks in the nation.
The bank is responsible for the control of the country's currency. They are also responsible for the supply of liquidity.
But their main function in the economy is to Limit inflation and reduce unemployment.
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Click this link to view O*NET's Skills section for Actors.
Note that common skills are listed toward the top, and less common skills are listed toward the bottom. According to
O*NET, what are common skills needed by Actors? Select four options.
mathematics
speaking
social perceptiveness
active listening
reading comprehension
operation monitoring
Answer:
speaking, active listening, reading comprehension, social perceptiveness
Answer:
2 3 4 5
Explanation:
trust :D
why are medical related professions and human resources important?
Answer:
because sometimes they help us to get some medicine which can be used to cure a particular disease
According to the national communication association, which skill is considered the most valuable by employers?.
Explanation:
Listening. Being a good listener is one of the best ways to be a good communicator. ...
Nonverbal Communication. ...
Clarity and Concision. ...
Friendliness. ...
Confidence.
Empathy. ...
Open-Mindedness. ...
Respect
According to the national communication association, communication skills are the one that is considered the most valuable by the employers. Therefore, the option B holds true.
What is the significance of communication skills?Communication skills can be referred to or considered as the skills that help in determining and showcasing the level of proficiency that an individual has while being involved in a communication in a professional environment.
When employers are looking for suitable candidates, communication skills of the applicants are given the top priority in order to determine the capabilities of a person as an ideal and a potential employee to the company.
Therefore, the option B holds true and states regarding the significance of communication skills.
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The missing choices to the incomplete question have been added below for better reference.
A. Verbal
B. Communication
C. Linguistic
D. All of these
Rishabh a brilliant student lives in a remote district of Orissa and has done mechanical engineering, He has won a lottery of Rs. 10 Lakhs. He wants to invest this money in some business opportunity, One of his friends suggested him to form a company. So he decided to manufacture tube lights and bulbs in his manufacturing unit and give jobs to unemployed youth in his village area. He has identified the business opportunity but is unaware about the other functions to be performed by him as a promoter of the company, Explain the other five steps to be performed by him as a promoter of the company, 2. Akriti, Manju and Sonali were friends who started a partnership business. They did not get their firm registered as it was optional. Soon, Manju and Sonali started having conflicts. Manju and Sonali wanted to approach a lawyer. If you were a lawyer than how would you guide them?
Answer:
hall
Explanation:
kk off Krishan Kala
The Gallup Organization contacts 1595 male university graduates who have a white collar
job and asks whether or not they had received a raise at work during the past 4 months
Determine the sample
the 595 male university eraduates who have received mise at work.
Male university graduates who have a white collar job
The 1595 male university eraduates who have a white collar iob
Sample contains the 1595 male university eraduates who have a white collar job. Hence, option C is the correct answer.
What is the population?The set of all people, items, or objects that are required for a specific study is defined as the population.
Given that
Population size be N
And the gallup organization contains 1595 male University graduate who have a white collar job and ask whether or not they have received a rise at work during the past four months.
Here sample size is N = 1595
And random variable of interest is white collar job.
It is heavy for researchers to inspect each discrete in the population. Hence, a smaller group of sole (subjects) are selected from the population of interest. Therefore, the group of sole taken from the population of interest is known as the sample.
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there are two key dimensions of organizational structure that are relevant for innovation. what are these two dimensions and how can they influence innovativeness in a business? explain clearly and provide some examples (250 words).
Answer:
The two key dimensions of organizational structure that are relevant for innovation are formalization and centralization.
Formalization refers to the extent to which an organization's processes, procedures, and rules are standardized and explicitly documented. Centralization, on the other hand, refers to the degree to which decision-making authority is concentrated at the top of the organizational hierarchy, rather than distributed throughout the organization.
Formalization can influence innovativeness in a business in several ways. On one hand, highly formalized organizations may have well-established processes and procedures that make it difficult to deviate from the status quo and pursue innovative ideas. However, formalization can also provide a framework for innovation by creating clear guidelines for experimentation and providing a structured approach to the development of new products or services. For example, a pharmaceutical company that follows strict protocols for testing new drugs may have a greater likelihood of successfully bringing a new product to market.
Centralization can also have an impact on innovativeness in a business. In highly centralized organizations, decision-making authority is concentrated at the top of the hierarchy, which may make it difficult for employees at lower levels to propose and implement innovative ideas. However, centralization can also provide a clear direction for innovation and facilitate the allocation of resources toward new initiatives. For example, a technology company that is highly centralized may be better able to focus its resources on a particular area of innovation, such as artificial intelligence.
In general, a balance between formalization and centralization may be ideal for promoting innovativeness in a business. By providing a structured approach to innovation while also empowering employees at all levels to propose and implement new ideas, organizations can create an environment that fosters creativity and experimentation while also maintaining a clear direction for the future.
the ability of an individual to own and exercise control over scarce resources is called:______.
An individual's ability to own and control scarce resources is known as Property rights.
What are property rights?
The right to property is commonly defined as the right to own or own something, such as a property. B. a property or a car, and to be able to dispose of it as you wish. However, this is only one aspect of property law that focuses on exclusive property rights. For example, the owner of a home has the right to decide whether to rent it out and, if so, to which tenant; live there alone; or use it in any other peaceful way.It is the right to decide how to use it.
According to Article 300-A of the Indian Constitution, the Property Law states that no one but the State (Government) has the right to deprive a person of his property.
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