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- You have recently been hired to be the COO (Chief Operating Office) of a start-up company and your primary goal is to help grow the business. The company reported sales of $2 million last fiscal year. The company currently does not offer trade credits because the majority of its customers use credit cards. In a bid to expand the business, you are asked to determine whether extending trade credits is a good idea. (a) List and explain two factors that will be important for you to make this decision? Meaning, as the COO, what factors do you need to take into consideration if you are planning to start offering trade credit. (b) Given what you know, are you for or against the company offering trade credits.. Which credential requires a Master's Degree and results in the ability to accept payment from insurance providers? Tenure Certification Licensure O Credentialing 3rd partyWhat are disadvantages of proprietorship and partnership (mark all that applies) difficulty in raising capital funds ооооооо sometimes personal tax rates are better than corporate tax rates less regulation the owners are also the managers simpler difficulty in transferring ownership limited life ✔ unlimited liability
- True or False. 1. Business is an entity where the skills, energy, and enterprise of owners & partners are linked with money, its sources and investment. 2. Finance is not involved in the production of financial resources from business operations. 3. Allocating funds is the same as the actual distribution of funds 4.2. This next question will be more opinion-based. What is an Enrolled Agent (EA) and what is a CPA? What requirements must be met in order to obtain either of these titles? Would you be interested in pursuing either and why?What are advantages of proprietorship and partnership (mark all that applies) difficulty in raising capital funds simpler difficulty in transferring ownership less regulation оос ооо limited life unlimited liability the owners are also the managers (thus, there is no the agency problem) sometimes personal tax rates are better than corporate tax rates
- . _______ Manju asks for your advice in opening a newbusiness. She plans to provide tax-related services to individuals and small-business owners inher community. Of course, she wants an attractive means of starting and operating her businesswith a reasonable hope of succeeding in it. Whatwill be your advice?a. Start your own independent business.b. Form a partnership with a CPA.c. Consider purchasing a franchise.d. Forget about opening the business becauseit is too risky.e. First secure a loan from the Small BusinessAdministration.Develop a business idea not exceeding 500 words. If you have an opportunity to start a business, what kind of business will you start? Mention about: (i) The industry and product/service you are interested in. (ii) State why you are interested in that business. (iii) Who will be your customers and competitors? (iv) The initial amount you may require starting your business.O availability and nearness: A type of business that contracts with health-care providers to provide services at reduced rates is a* OPreferred Provider Organization (PPO) Health Maintenance Organization (HMO) O government insurance plan O deductible and co-payment plan A time management tip for studying is to study hardest subjects last O study in short time blocks and take periodic breaks study at night after all other responsibilities are met study only when you can devote long periods of time to concentrate
- You are a co-founder of a start-up firm making electronic sensors. After a year of sales, your business is not growing rapidly, but you have some steady customers keeping the business afloat. A major supplier has informed you it can no longer supply your firm because it is moving to serve large customers only, and your volume does not qualify. Through you have no current orders to support an increased commitment to this supplier, you do have a new version of your sensor coming out that you hope will increase the purchase volume by over 75 percent and qualify you for continued supply. This supplier is important to your plans. What do you do?Social Security is all but: A. financed through working individuals and employers. B. a government benefit paid to elderly and disabled. C. a specific savings plan to which individuals contribute and from which they benefit. Is the Answer C ?Pick a business that you know of (can be a small business in your neighborhood or a large corporation that makes a product you bought in the past), do a little research about it, and answer the following: Describe the goods or services the business sells and where it does business. What kind of model is this company using? (remember, a company could use more than one model; use the models described in the introduction above). What type of business is this (sole proprietorship, partnership, or corporation)? How did you find out? Describe how you researched information about this company.