After completing this chapter, do you feel comfortable using your financial calculator for decisions? List several large financial decisions and how you could apply your newly acquired knowledge to make the best choice
What will be an ideal response?
Answer: There are a multitude of acceptable answers, such as calculating monthly mortgage payments or calculating the investment required annually to obtain a desired amount at retirement.
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Which of the following is an advantage of smaller groups?
A. Fewer distractions B. More formalized team leadership C. More creativity and innovation D. More division of labor E. Better interaction and coordination
William and Nigel decide to start a partnership business. They ask their friend Sophia to become a limited partner in order to help them with additional funds to get the business started. Which of the following statements about Sophia would be correct if she becomes and remains a limited partner in this scenario?
A. She may be involved in management of the business but to a rather limited degree. B. She may lose her investment if the business fails, but she will have no personal liability for partnership debts. C. She may be considered an employee and therefore will be entitled to wages for the services she renders to the partnership. D. She cannot be entitled to any share in the profits of the business.
Service businesses do not have any overhead costs
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
There is usually information symmetry between the firm and outsiders.