Organization: An organization is a type of entity where in a group of people come together to achieve a common goal. A business organization exists basically in four types of forms namely sole proprietorships, partnerships , limited liability companies, and corporations. Corporation: A corporation is a separate legal entity which is separate from its owners. It is an artificial body and continues to exist even after the death of its owners where in such case the ownership is transferred. The owners are separate from the legal body and hence they are not liable for any obligation of the corporation individually. Similarly, the corporation is also not liable for any of the personal obligations of its owners. Financial Manager : The financial managers take care of the financial health of an organization. They make the important financial decisions of the company on behalf of the shareholders since it is not feasible for the owners to have direct control over the huge firms. To Identify: The jobs that a financial manager does.

Question

Want to see the full answer?

Answer 1

Question

Chapter 1, Problem 6CC

Summary Introduction

Organization:

An organization is a type of entity where in a group of people come together to achieve a common goal. A business organization exists basically in four types of forms namely sole proprietorships, partnerships, limited liability companies, and corporations.

Corporation:

A corporation is a separate legal entity which is separate from its owners. It is an artificial body and continues to exist even after the death of its owners where in such case the ownership is transferred. The owners are separate from the legal body and hence they are not liable for any obligation of the corporation individually. Similarly, the corporation is also not liable for any of the personal obligations of its owners.

Financial Manager:

The financial managers take care of the financial health of an organization. They make the important financial decisions of the company on behalf of the shareholders since it is not feasible for the owners to have direct control over the huge firms.

To Identify:

The jobs that a financial manager does.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Don't used hand raiting and don't used Ai solution

One year ago, the Jenkins Family Fun Center deposited $3,700 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $5,500 to this account. They plan on making a final deposit of $7,700 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 9 percent?

It is anticipated that Pinnaclewalk will next pay an annual dividend of $2.2 per share in one year. The firm's cost of equity is 19.2% and its anticipated growth rate is 3.1%. There are 420000 outstanding. Use the Gordon Growth Model to price Pinnaclewalk's shares. {Express your answer in dollars and cents} What is Pinnaclewalk's market capitalization? {Express your answer in millions of dollars rounded to two decimal places}