What is the accounting equation for liabilities and equity?

These are the building blocks of the basic accounting equation. The accounting equation is: ASSETS = LIABILITIES + EQUITY. For Example: A sole proprietorship business owes $12,000 and you, the owner personally invested $100,000 of your own cash into the business.

What is the accounting equation for a sole proprietorship?

The accounting equation is: For Example: A sole proprietorship business owes $12,000 and you, the owner personally invested $100,000 of your own cash into the business. The assets owned by the business will then be calculated as: $12,000 (what it owes) + $100,000 (what you invested) = $112,000 (what the company has in assets)

How much does a sole proprietorship business owe?

A sole proprietorship business owes $12,000 and you, the owner personally invested $100,000 of your own cash into the business. The assets owned by the business will then be calculated as:

How are the assets of a business calculated?

A business owes $35,000 and stockholders (investors) have invested $115,000 by buying stock in the company. The assets owned by the business will then be calculated as:

What happens when a business associate violates a BAA?

When a Business Associate/Subcontractor breaches or violates a BAA, the Covered Entity must take reasonable steps to cure the breach or end the violation. “If such steps are unsuccessful, they must terminate the contract or arrangement,” HHS explains.

Who are your business associates and what are their responsibilities?

Training Employees – All employees of the Business Associate should be trained on their responsibilities for protecting electronic PHI (or “ePHI”) in possession of the Business Associate. They need to show you a log of all employees training.

Which is an exception to a business associate agreement?

Business Associate/Subcontractor exceptions include, but are not limited to, the following examples considered ‘conduits’ for PHI: Contractors working exclusively for your company, individuals with other clients, and workers hired through a business are not Business Associates.

Can a covered entity disclose PHI to a business associate?

According to HHS, Covered Entities may only disclose PHI to an entity to help carry out its healthcare functions, not for the Business Associate’s independent use or purposes.” 1 For example, a Business Associate/Subcontractor cannot use the PHI from the Covered Entity for its own email campaign. Who are Business Associate Subcontractors?