• Wrong document? Swap it for free
  • Written by students who passed
  • Immediately available after payment
  • Read online or as PDF
  • 4.6 TrustPilot
0
Sell
Where do you study
Your language
Start selling Create your account
  • Busi
  • Busi
To add items to your wishlist, you must be logged in
Document preview thumbnail
Preview 1 out of 4 pages
Exam (elaborations)

BUSI 1301 - Final Exam Study Guide.

0.0
(0 reviews)
- sold
4 pages
2024/2025 Written for academic year
Institution Busi
Course Busi
Document preview thumbnail
Preview 1 out of 4 pages

BUSI 1301 - Final Exam Study Guide. Business - CORRECT ANSWER What is an entity that seeks to earn a profit by providing a good or service? Economics - CORRECT ANSWER The study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals. Importing vs. Exporting - CORRECT ANSWER Exporting - Selling products to another country Importing - Buying products from another country Ethics - CORRECT ANSWER Standards of moral behavior; that is behavior accepted by society as right versus wrong Is it legal? - CORRECT ANSWER The first and most basic step when facing an ethical dilemma is to ask? Limited Partner vs. General Partner - CORRECT ANSWER Limited Partner - Owner who invests money in the business but does not have any management responsibility for losses beyond the investment General Partner - Unlimited liability and active in the firm Sole Proprietorship - CORRECT ANSWER Advantages - Ease of starting and ending the business, being your own boss, pride of ownership, leaving a legacy, retention of company profits, and no special taxes Disadvantages - Unlimited liability, limited financial resources, management difficulties, overw

Content preview

BUSI 1301 - Final Exam Study Guide.
Business - CORRECT ANSWER What is an entity that seeks to earn a profit by providing a good or
service?



Economics - CORRECT ANSWER The study of how society chooses to employ resources to produce goods
and services and distribute them for consumption among various competing groups and individuals.



Importing vs. Exporting - CORRECT ANSWER Exporting - Selling products to another country



Importing - Buying products from another country



Ethics - CORRECT ANSWER Standards of moral behavior; that is behavior accepted by society as right
versus wrong



Is it legal? - CORRECT ANSWER The first and most basic step when facing an ethical dilemma is to ask?



Limited Partner vs. General Partner - CORRECT ANSWER Limited Partner - Owner who invests money in
the business but does not have any management responsibility for losses beyond the investment



General Partner - Unlimited liability and active in the firm



Sole Proprietorship - CORRECT ANSWER Advantages - Ease of starting and ending the business, being
your own boss, pride of ownership, leaving a legacy, retention of company profits, and no special taxes

Document information

Uploaded on
December 5, 2024
Number of pages
4
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers
Report Copyright Violation
$13.99
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Seller avatar
NURSEMISH
Sold
0
Followers
0
Items
59
Last sold
-

Browse related subjects

Subjects

  • busi
  • busi 1301 final exam study guide

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions