UNDERSTANDING BUSINESS (LL/ACCESS)
13th Edition
ISBN: 9781264671656
Author: Nickels
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 5.1, Problem 2TP
Summary Introduction
To determine: The reason for which unlimited liability is considered to be the major drawback to sole proprietorship.
Introduction:
When the business is managed and owned by a person single handedly, it is known as sole proprietorship.
The legal obligations of the sole proprietors to pay for all the debts of the company even if it takes to pay it from the personal assets of the proprietor, is known as the unlimited liability.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
I need typing clear urjent no chatgpt used i will give 5 upvotes pls full explain
An amount of $800.00 earns $500.00 interest in three years, three months. What is the effective annual rate if interest compounds monthly?
The effective annual rate of interest as a percent is ____%.
:-write the following linear
1- general form
programming model by
2- standard form
Max Z = 6X1+ 20 X₂+ 23 X3
S.T.
8X1+6X2-8X3
6X1+ 45X2
≤
100
= 50
215
12X1 + 5X2+ 4X3 ≥ 12
X1, X2, X3
≥0
Chapter 5 Solutions
UNDERSTANDING BUSINESS (LL/ACCESS)
Ch. 5.1 - Prob. 5.1AQCh. 5.1 - Prob. 5.1BQCh. 5.1 - Prob. 1TPCh. 5.1 - Prob. 2TPCh. 5.2 - Prob. 5.2AQCh. 5.2 - Prob. 1MEDCh. 5.2 - Prob. 3TPCh. 5.2 - Prob. 4TPCh. 5.3 - Prob. 5.3AQCh. 5.3 - Prob. 5TP
Ch. 5.3 - Prob. 6TPCh. 5.3 - Prob. 7TPCh. 5.3 - Prob. 8TPCh. 5.4 - Prob. 5.4AQCh. 5.5 - Prob. 5.5AQCh. 5.5 - Prob. 5.5BQCh. 5.5 - Prob. 5.5CQCh. 5.6 - Prob. 9TPCh. 5.6 - Prob. 10TPCh. 5.6 - Prob. 11TPCh. 5 - Prob. 1CECh. 5 - Prob. 2CECh. 5 - Prob. 3CECh. 5 - Prob. 4CECh. 5 - Prob. 1CTCh. 5 - Prob. 2CTCh. 5 - Prob. 3CTCh. 5 - Prob. 4CTCh. 5 - Prob. 1DCSCh. 5 - Prob. 2DCSCh. 5 - Prob. 3DCSCh. 5 - Prob. 4DCSCh. 5 - Prob. 5DCSCh. 5 - Prob. 1PPTCh. 5 - Prob. 2PPTCh. 5 - Prob. 1VCCh. 5 - Prob. 2VCCh. 5 - Prob. 3VC
Knowledge Booster
Similar questions
- With the aid of examples, fully discuss any five (5) political tactics used in organisations. (25 Marks)arrow_forward13. Modelling occurs when an individual mimics or repeats behaviour that they have seen displayed by a person of influence or behaviours that have been rewarded either tangible or non-tangible. 14. coaching involves a relationship between two individuals for a period as they perform their jobs. 15. For motivation to be high, expectancy, instrumentalities, and total valence of all outcomes are not necessary.arrow_forwarda) Differentiate between Individualism and Collectivism b) Outline any five (5) factors that influence followership behaviours. c) Outline any Five (5) characteristics of flat organisational structure. (10 Marks) (5 Marks) (10 Marks)arrow_forward
- Based on the case study below, advise on data collection methodologies and tools Daniel may utilize to collect data, providing a minimum of five examples of inquiries he could pose. Daniel, a senior business student, has consistently been intrigued by the rivalry between small local coffee establishments and giant multinational corporations. For his study project, he chooses to examine the factors that influence customer loyalty to local coffee shops, despite the extensive prevalence of international brands. Daniel selects two bustling neighborhoods in his city, each featuring multiple local coffee shops and a minimum of one multinational chain. He intends to investigate elements such as product quality, customer service, pricing, and the communal ethos typically linked to local enterprises. Daniel seeks to comprehend how client demographics, like age and financial level, affect their preferences. Daniel plans to employ a combination of surveys and client observation for his…arrow_forwarda. With the aid of examples, define discrimination. (5 marks) b. Fully discuss any four (4) types of discrimination in the workplace. (20 Marks)arrow_forwardTrue or False. 1. Coercive power stems from the capacity to produce fear in others. 2. Some political tactics are honest in nature. 3. Discrimination is to show favour, prejudice, or bias for or against a person on any arbitrary grounds. 4. Organisations are composed of coalitions which compete with one another for resources and influence. 5. Collectivism does not explain the extent to which, individuals care about other's actions, the sharing of material and non-material benefits and resources. 6. The goal of valuing diversity is not to capitalize on the strengths of each individual or subgroup to ensure that the whole is greater than the sum of the parts. 7. Persuasion is the method that relies supposedly on logic, the power of argument, and the evidence of the facts. 8. Ineffective organizational leaders have learnt how to identify informal leaders particularly when they want to use them in bringing about corporate change. 9. Managing diversity can improve employee attitudes and…arrow_forward
- Based on the case study below, propose a research design that Daniel could employ to examine consumer loyalty and elucidate its appropriateness for his investigation. Daniel, a senior business student, has consistently been intrigued by the rivalry between small local coffee establishments and giant multinational corporations. For his study project, he chooses to examine the factors that influence customer loyalty to local coffee shops, despite the extensive prevalence of international brands. Daniel selects two bustling neighborhoods in his city, each featuring multiple local coffee shops and a minimum of one multinational chain. He intends to investigate elements such as product quality, customer service, pricing, and the communal ethos typically linked to local enterprises. Daniel seeks to comprehend how client demographics, like age and financial level, affect their preferences. Daniel plans to employ a combination of surveys and client observation for his research. He intends…arrow_forwardAccording to the case study below, propose methods by which Daniel could evaluate both quantitative and qualitative data to derive significant conclusions. Daniel, a senior business student, has consistently been intrigued by the rivalry between small local coffee establishments and giant multinational corporations. For his study project, he chooses to examine the factors that influence customer loyalty to local coffee shops, despite the extensive prevalence of international brands. Daniel selects two bustling neighborhoods in his city, each featuring multiple local coffee shops and a minimum of one multinational chain. He intends to investigate elements such as product quality, customer service, pricing, and the communal ethos typically linked to local enterprises. Daniel seeks to comprehend how client demographics, like age and financial level, affect their preferences. Daniel plans to employ a combination of surveys and client observation for his research. He intends to interview…arrow_forward7. What is followership? A. Following a leader. B. A process whereby individuals defer their power towards another. C. Ability to have Power. D. A two-way process that occurs through relational interactions between two or more parties. 8. Which one of the following is not one of bases of Power? A. Positional B. Egocentric C. Referent D. Reward 9. The old Psychological contract was mainly for A. Goals B. Security for loyalty C. Behaviours D. Targets 10. Reasons why change strategies often fail include the following apart from A. Low sense of urgency for change. B. Guiding coalition responsible for the change. C. Lack of vision to guide the process. D. Lack of communication of the vision.arrow_forward
- According to the case study below,examine the possible obstacles Rachel may encounter while completing this research and suggest strategies to mitigate them. Rachel, a postgraduate psychology student, has observed that despite the proliferation of mental health awareness programs on university campuses, numerous students continue to experience a lack of support. Contemplating her personal experiences as an undergraduate, she resolves to examine the reasons some students proactively seek assistance while others refrain from doing so. Rachel concentrates on two universities: one situated in a vibrant city with a well-endowed mental health center and another located in a rural area with constrained resources. She intends to engage both students and mental health professionals in her research to encompass a broad spectrum of viewpoints. Rachel aims to identify obstacles to accessing mental health treatments, the influence of cultural and societal issues, and students' perspectives…arrow_forwarda) Differentiate between Individualism and Collectivism b) Outline any five (5) factors that influence followership behaviours. c) Outline any Five (5) characteristics of flat organisational structure.arrow_forwardBased on the following case study,propose a research title and describe the research objectives for Rachel's study. Rachel, a postgraduate psychology student, has observed that despite the proliferation of mental health awareness programs on university campuses, numerous students continue to experience a lack of support. Contemplating her personal experiences as an undergraduate, she resolves to examine the reasons some students proactively seek assistance while others refrain from doing so. Rachel concentrates on two universities: one situated in a vibrant city with a well-endowed mental health center and another located in a rural area with constrained resources. She intends to engage both students and mental health professionals in her research to encompass a broad spectrum of viewpoints. Rachel aims to identify obstacles to accessing mental health treatments, the influence of cultural and societal issues, and students' perspectives regarding the efficacy of available resources.…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning