What are the advantages of owning a small business? Give examples.
What will be an ideal response?
Answers will vary. For individuals that like dealing with people, small business offers personal relationships with customers and employees. Small business offers the advantage of adaptability and ability to change. Record keeping is fairly simplified for small businesses. Independence, ability to retain all profits, and the ease and low cost of going into business as well as going out of business are all advantages of small business ownership.
You might also like to view...
Property settlements made incident to a divorce have no immediate tax consequences; that is, the transfer from one spouse to another is not taxable.
Answer the following statement true (T) or false (F)
When a group is engaged in intergroup conflict, ________.
A. it is not unusual for groups to overconform to group norms B. democratic methods of leadership are likely to become less popular C. cohesion tends to increase D. All of the above are correct
The Japan Weather Association tracked buying patterns on 20,000 items and correlated them to the outside temperature. When the temperature goes up, people buy more sunshades, air conditioners, watermelons, and swimwear. When there's a chill in the air, sales of suits, sweaters, and heaters take off. This would be an example of
A. psychographic positioning. B. lifestyle segmentation. C. volume segmentation. D. purchase-occasion segmentation. E. demographic segmentation.
An unrecorded cheque issued during the last week of the year would most likely be discovered by the auditor when the ________.
A) bank confirmation is reviewed B) cutoff bank statement is reconciled C) search for unrecorded liabilities is performed D) cheque register for the last month is reviewed