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What four main ways to become a business owner and explain the disadvantages and advantages of each?
A business owner can go in business for themselves to make more money, but it will take long hours. A business owner can start a business to meet the demands of customers. A disadvantage to that is the fact that customers are very demanding.
Why should a business weigh the advantages and disadvantages of each ownership option?
This is done so that a business will know exactly what type or form of business is right for them.
How has technology changed business environment?
It has changed it because the power of techology has improved the pace and how each business does their jobs.
What effect does advanced technology usually have on the cost of each item produced by a business?
The cost of each item decreases.
Should ethics be imposed on business?
Ethics should not be imposed on business. Each business should have its own inside code of ethics and shouldn't need someone else to tell them what to do.
What options are available to you as a small business owner filing for Chapter 7 Bankruptcy through a registered attorney?
The options available to a small business owner would vary in each situation. With a lawyer the business owner can go through each of the options and choose the best one for their situation.
Can owner of a company be held personally liable?
The owner can be held personally liable for business debts, but it depends on the business structure and what type of contract the owner holds. If the owner is operating a sole proprietorship (he/she is the only owner), the owner and the business are technically considered the same entity, meaning the owner has full personal liability for any business debt. In a partnership, the business belongs to each partner, meaning that business debt also belongs to each partner personally. Each partner is liable for 100% of business debts. The only time an owner is not held personally liable for debts is in a corporation or LLC. In both of these cases, the business and owner are considered separate entities and, in theory, the owner could have no personal liability for business debt. Liability could occur if the owner has signed a personal guarantee, has offered his/her property as collateral, has signed a contract in his/her own name, he/she uses personal loans or credit cards to fund the business, or there is some sort of fraud or sloppy record-keeping.
What is a similarity ratio?
similarity ratios are ratios in which both the ratios are equal to each other
What four main ways to become a business owner and explain the disadvantages and advantages of each?
A business owner can go in business for themselves to make more money, but it will take long hours. A business owner can start a business to meet the demands of customers. A disadvantage to that is the fact that customers are very demanding.
Are two ratios always equal to each other?
No but the equal ratios are called Equivalent Ratios.
What is entity assumption?
entity means the business and owner have separate from each other
Can a business owner draw employment security from his own business if there is no work?
No Your income is the "OWNER'S DRAW" This is the money the business owner will draw from the businessfor personal living expenses.Variables to unemployment are taxes are based on the wages of the employees and each state has it own unemployment laws,.
What exactly is a lease of business?
Leasing a business is paying each month to effectively be the owner and manager of an already existing company. The profit stays with you, but a portion goes to the true owner.
Are two ratios sometimes equal to each other?
Yes the ratios are sometimes equal to each other.
What is franchise business?
Buying in to an established chain. Such as subway, cousins, McDonalds. There is an owner for each store, not one owner for all stores.
What are two ratios that are equal to each other?
Ratios that are equal to each other can be 3/4=75/100 or 1/4=25/100
How do small business loans work?
Each work differently and depends on type of loan and size of business. The owner first applies for the loan, is approved, then decides a rate at which to pay.
