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BUS 101 – Exam 2 Questions with Verified Answers – Accounting, Trade, Human Capital & Business Structures – University of Tampa

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This document provides verified answers to Exam 2 questions for BUS 101 at the University of Tampa, covering key topics including financial and managerial accounting, international trade, business ownership types, human capital management, and legal frameworks. It features clear definitions and comparisons of costs, accounting systems, and corporate structures, serving as a robust study guide for midterm preparation.

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June 25, 2025
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  • bus 101 exam 2 questions with verified answers

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UTampa BUS 101 Exam 2 questions with verified
answers
Accounting Ans✓✓✓-gather
-organize
-analyze
-report


Accounting cycle Ans✓✓✓-bookkeeping
-journal
-ledger
-trial balance


Accounting's Stakeholders Ans✓✓✓-management
-marketing
-investors
-creditors
-government


Acquisition Ans✓✓✓when one company takes over another


Advantages of a corporation Ans✓✓✓-limited liability
-ability to raise funds
-transfer of ownership

, -longevity
-attracting human capital


Advantages of Franchises Ans✓✓✓-established brand name
-support from franchisor
-access to capital
-national advertising


Advantages of Partnerships Ans✓✓✓-combined skills
-relative ease of formation
-no double taxation


Advantages of Sole Proprietorship Ans✓✓✓- be your own boss
-no sharing of profits
-avoid double taxation
-ease of formation
-ease of dissolution


Advantages of trade Ans✓✓✓Increases competition lowers prices
encourages innovation
Provides access to new markets
Diversifying across different markets
Gains from trade through specialization
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