ETH/321T WEEK 2 APPLY ASSIGNMENT ETH/321T WEEK 2 APPLY ASSIGNMENT AND PRACTICE EXAM QUESTION AND ANSWERS 2024

ETH/321T WEEK 2 APPLY ASSIGNMENT ETH/321T WEEK 2 APPLY ASSIGNMENT AND PR ACTICE EXAM QUESTION AND ANSWERS 2024 Question 1 Sandy wor ks for RigorMart. She supervises regional managers and directs them based on orders from the board of directors. Sandy's position also entitles her to stock ownership in the company. What is Sandy's position in the company? EXECUTIVE & SHAREHOLDER Question 2 Rita wants to be involved in business. She has a fair amount of money to invest, but she does not want to be involved in management. She wants to form a business in the quickest way possible under her circumstances. Which form of business would be best for Rita? LIMITED PARTNERSHIP Question 3 Noodleoo, a struggling restaurant chain, wants to enact a franchise agreement with Stephen to sell its product through a chain -style franchi se. Stephen agrees and opens the store, and 6 months later Noodleoo goes bankrupt. Which is most likely true of this situation? If Noodleoo was not transparent with its financial data, it has broken the Franchise Rule. Question 4 Cadence works for WilderCorp. She meets with a team to make all -encompassing decisions concerning the direction of the business. She also personally supervises managers and conducts training for supervisors and plant managers. Cadence also buys stock in Wi lderCorp. What is Cadence's position in the company? MORE THAN ONE OPTION Question 5 Lily wants to build a business. She has very little capital. She does, however, have a partner with which she could run a busine ss. Lily wants to be able to avoid being held personally liable for any problems the business has. Which of the following would lead Lily to choose a sole proprietorship organization for her business? - ETH/321T WEEK 2 APPLY ASSIGNMENT LITTLE CAPITAL Question 6 What is the appropriate description f or a plant -processing franchise? A franchisee focuses on making a franchisor's product using the franchisor's manufacturing method or recipe. Question 7 Koffman Corporation is trying to raise capital. What method would be the least risky to raise capital if it has a less -than -favorable credit rating? Stock issuance, since a credit rating won't negatively affect Koffman's ability to sell stock. Question 8 Hal organized his business in Canada. Most of his customers are in Montana. In Montana, Hal's business would be considered a(n) __________ corporation alien Question 9 Hal and Miranda have a general partnership business for landscaping projects. Hal makes a contract with a customer for a project one day while Miranda is absent and leaves on vacation the next day. Miranda does not feel she has the time to perform the contract for the customer. Which of the following is true? Miranda is obligated to perform the contract. Question 10 Mario and Johnny want to start a business. They have very little capital. They are new partners and largely unfamili ar with each other's management practices. They are happy, however, to be organizing a business together in order to avoid full liability for the business. Which detail of this situation is a good reason for Mario and Johnny to create a general partnership ? Little capital Question 11