Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Chapter 5.1, Problem 5.1BQ
Summary Introduction
To determine: The steps needed to take by a sole proprietor for a week’s vacation.
Introduction:
When the business is managed and owned by a person single handedly, it is known as sole proprietorship.
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Students have asked these similar questions
If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur?
The following are the fundamental questions to consider when starting a business EXCEPT:
Do you have a viable concept?
Is the reason you want to start a business consistent with your character and
concept?
Do you know how to run a business?
Do you have what it takes?
3
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.
Chapter 5 Solutions
Understanding Business
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
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