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Assume Maxene is about to start a new business. a. Give a specific business. b. Discuss each of the 5 functions of the business as they relate to the company. c. Discuss 3 external forces that wo...
Lowering the legal age to purchase products would increase the supply of cigarettes. True or False? Explain.
Christie had a falling out with Frank and Matt and decided to open up her own shop - Christie's GlassWorks, selling windows on a retail basis. She decided to set up a sole proprietorship. At her gr...
Would you classify Apple and Google as service, merchandising, or manufacturing companies? Explain.
To avoid double taxation, an entrepreneur may elect to organize as a/an
A small neighborhood barbershop that is operated by its owner would likely be organized as a: a. proprietorship. b. corporation. c. partnership. d. joint venture.
Which business organizations limit the liability of some or all of their owners to the extent of their investment in the company?
What is a business organization that receives the limited liability of a corporation but is taxed as a proprietorship or partnership?
Which business forms have stockholders with limited liability?
Briefly describe two general conditions that must exist in order for an expert system to be appropriately adopted by any organization. Briefly describe two benefits of using these expert systems.
Which one of the following business types is best suited to raising large amounts of capital? a. limited partnership. b. corporation. c. sole proprietorship. d. limited liability company. e. g...
When can the corporate veil be lifted under the Corporations Act to make directors liable for corporate debts?
Explain the strengths and weaknesses of Multi-domestic strategy, Global strategy, and Transnational strategy for Microsoft to improve its global business. Based on your answer, which strategy would...
Which entities must have tax years that conform with the tax years of their owners? a. Partnerships b. S corporations c. Personal service corporations d. All of the above e. None of these
What are the factors considered before issuing dividend? Should a company need a dividend policy? Explain in details.
A project is a temporary endeavor undertaken to produce a unique product, service, or result. It has a defined start and endpoint and works according to a specific goal and objective. Discuss four...
Monika and Joshua run the "No More Bad Hair Day" hairdressing salon, which is prospering. They would like to expand their premises and staff and ultimately hope to open other salons in different lo...
According to SWOT analysis, explain what threats to a business are and provide a few examples.
What kind of organizational culture supports innovation?
Your company's CEO does not have authority over some of the activities involved in: a) a functional process. b) a workgroup process. c) an enterprise process. d) an inter-enterprise process.
MS Visio is used during database design for which of the following reasons. A. It can query information. B. It calculates formulas. C. It sets reports. D. It depicts entities and relationships...
Examine an adverse selection problem Wells Fargo is facing, and recommend how it should minimize its negative impact on transactions.
What are the three legal forms of business organization? Which form of organization is dominant in the terms of total profits, and why?
Explain the difference between the short run and the long run as it relates to the firm's production function. Why is this distinction important to a firm's manager?
Provide information to support the following position: Information Systems help to automate jobs and processes within organizations. This, however, leads to unemployment in many instances, as the s...
Are organizations more understanding of the impact of human behavior than in previous generations? Why? Explain.
Do we always need to empower teams? Why?
Why is the organization of Amazon good, compared to other organizations? Explain.
Which statement is applicable to Not-for-profit entities? a. They do not use responsibility accounting. b. They utilize responsibility accounting in trying to maximize net income. c. They utilize r...
In reality, it is difficult to find organizations that reflect 100 percent service or 100 percent manufacturing characteristics. Some service firms take on characteristics of manufacturers, and vic...
A) Who in the organization needs to be involved in designing and implementing MRP II? B) Who needs to be involved in the decision to purchase an ERP system? C) Who needs to be trained to use ERP?
Define business impact analysis (BIA). Identify its primary elements or components.
The following describe several different business organizations. Indicate whether the description refers to a sole proprietorship, partnership, or corporation. a. A-1 pays its own income taxes and...
What is a flow-through entity, and what effect does this designation have on how business entities and their owners are taxed?
This does not require any permission from the state to be set up: A. LLC B. S Corporation C. C Corporation D. partnership
Which of these is an advantage of a partnership over a sole proprietorship? a. Ease of transferring ownership. b. Unlimited liability. c. Pooling of resources. d. Mutual agency.
Drewrey's Market pays $0.30 per pound for 300 pounds of peaches. On average, 5% of the peaches will spoil before they sell. Find the selling price per pound needed to obtain a 180% markup on cost.
Suggest appropriate legal solutions for a range of business problems e.g. termination of contract, rescue from insolvency and liquidation.
A number of tax and nontax factors should be considered in choosing the type of pass-through entity through which to operate a new business. For each of the following considerations, indicate wheth...
Which type of business organization is a separate legal entity whose owners are not personally liable for the debts of the business? a) Corporation b) Partnership
Jill Jacobs and Mike Stutz have decided to create a business. They have financing available and have a well-developed business plan. However, they have not yet decided which type of legal business...
Which business structure would minimize taxes, while yielding the highest profits, and why?
What are the differences in taxation of the four different types of organizations?
Briefly discuss the following topics: insolvency- liquidation and reorganization.
Where would you find a target market in a marketing plan?
Briefly name and describe some organizational forms other than corporations that provide owners with limited liability.
List some common forms of business organization, and discuss how access to capital differs across these forms of organization.
With starting a business, what tax considerations might cause you to prefer to set it up as a proprietorship or a partnership rather than as a corporation?
The class began with a discussion of at-will employment being the foundation principle of the employment relationship. The rest of the course complicated this principle by providing numerous except...
Explain the differences between a proprietorship, a partnership, and a corporation. Why would an entrepreneur want to choose one over the other?
What are the advantages and disadvantages to a business of being formed as a partnership or sole proprietorship?
Three friends have just graduated, each with a B.Mgt. degree. One wants to start a restaurant and another wants to work as a subcontractor in a building trade. The third friend wants to put togethe...
Identify each of the following organizational characteristics with the organizational form or forms with which it is associated. a) Easier to transfer ownership b) Easier to raise funds c) More...
Jerry Weiss, a student at CBU, has developed a new diet drink, WeighBGone. He has asked you to join him in a business venture, to make and sell WeighBGone. Jerry does not understand business law. P...
Choosing a partnership as a tax entity has consequences, and those consequences often are different than those that arise from choosing the corporate form. Many of these consequences can be quite d...
What is the most important difference between a corporation and all other organizational forms?
Brad Edwards is earning $45,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost of living 12 percent higher than where he currently lives. What is t...
Is an LLC a partnership or S corporation?
How do corporations differ from sole proprietorships and partnerships?
Samuel is considering opening a lawn-servicing business. What non-tax factors should he consider in choosing a business entity?
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