Simulation Review By: Jessie Vest HCS/405 11/21/2011 For this assignment we had to review the Analyzing Financial Indicators for Decision Making. I had to look at three different phases of the simulation review. During each phases there was different categories that I had to look into. So to begin things off I will be first talking about the first phase of the simulation review. During the first phase they ask which cost-cutting options did I select and why I selected them? The
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proprietorship is the most common, oldest, and the simplest form of business organization. A sole proprietorship is a business entity owned and managed by one person. The sole proprietorship can be organized very informally, is not subject to much federal or state regulation, and is relatively simple to manage and control. In the state of Tennessee, Bedford County has certain procedures that are to be put into place when registering a business as a sole proprietorship. In the state of Tennessee, sole
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whether the size of the business can have any effect on whether Tony is eligible for family leave under the FMLA. Herman gets upset when Tony, the top performing sales man of a local auto dealership, decided he is going to take a family medical leave to help his seriously ill father. Herman, the owner of the dealership, argues that if Tony takes a substantial amount of time off, it would jeopardize the sales of the company. Herman mentions that the dealership is a small business and that everyone’s
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Board 1- A World of Finance American Intercontinental University The three forms of business organizations are sole proprietorship, partnership and corporation. Each form is completely different having their own tax structure, regulations and responsibilities within the community and state. A sole proprietorship will have one owner of the business. A partnership will have two or more owners that operate the business in different aspects. A corporation will be separate from its owners and may be publicly
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or a son, daughter, or parent, of the employee, if such spouse, son, daughter, or parent has a serious health condition (Halbert, & Ingulli. 2010)”. 2. Explain whether the size of the business can have any effect on whether Tony is eligible for family leave under the FMLA. Size of the business does have an impact on employee eligibility under the FMLA companies with less than 50 employees are not subject to the job protection under the Family Medical Leave act. Although this may not
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Solution: It is the management of current assets, such as inventory, and current liabilities, such as money owed to suppliers. 1.8 Organizational form: What are the three forms of business organization discussed in this chapter? Solution: The three forms of business organization we discussed are sole proprietorship, partnership, and corporation. 1.12 Organizational form: Explain what is meant by stockholders’ limited liability. Solution: Limited Liability
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Student Answer: One of the disadvantages of incorporating a business is that the owners then become subject to liabilities in the event the firm goes bankrupt. Sole proprietorships are subject to more regulations than corporations. In any type of partnership, every partner has the same rights, privileges, and liability exposure as every other partner. Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones.
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SOLE PROPEITORSHIP: This is the most common form of business today. The sole proprietorship is owned by a single individual who makes all of the business decisions when it comes to the operation of the business. Sole proprietorships are not legally differentiated from the owner; therefore the owner is legally liable for any business debts that are incurred or any lawsuits brought against the business. It is also much harder for sole proprietors to obtain credit since they are using their own
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for needs an additional twenty trailers; they will not be leasing their own equipment. Hence, a sales-type lease would not be the type of lease they should go with. It would not make any sense because they are not trying to compete in their own business; they are just trying to take advantage of an opportunity that has come along. This is used in capital leasing. The direct financing lease is accounted for the same way as a sales-type lease and it is also used in capital leasing. In a direct
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Forms of Ownership Business is the profitable activity in which the owner provides products or service to the customers in order to get profit. The main aim of the business is to make profit. The wrong decision on selecting the ownership affects the over all performance of the business. The business run by the one in order to take risk and profit is called the sole-proprietorship. The second form of the ownership is partnership which include more than two business partner in the firm. Corporation
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