Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate?
What will be an ideal response?
When a business is relatively small and is not diversified, employs relatively few people, has modest profits, and is not likely to expand significantly or require extensive financing in the immediate future, the most appropriate form for doing business may be a sole proprietorship. A sole proprietorship is easier and less costly to start than other forms of business, because few legal forms are involved. This form is also more flexible than other forms because the owner is free to make business decisions without consulting others. Taxes are paid on the business's income as the owner's personal income.
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The basic accounting equation can be restated in terms of cash by the following equation: Cash = current liabilities + long-term liabilities + capital stock – retained earnings – noncash current assets + long-term assets
a. True b. False Indicate whether the statement is true or false
What are the characteristics of the direct organizational plan in a solicited cover letter?
Coach Smith is told one of his new players is a slacker and a trouble maker. The coach immediately treats that player in a dismissive manner and the player indeed turns out to be a marginal performer. This example shows the ________ effect.
A. Golem B. Pygmalion C. projection D. closure
A service blueprint depicts:
A. The process of service delivery B. How the service dimensions will interact before, during and after the service process C. The intangible elements of the service D. All stakeholders that will be affected by the service process E. The relation of the service to the services marketing mix