Franchises Guías de estudio, Notas de estudios & Resúmenes

sole proprietorship - business owned and operated by one person unlimited liability - legal exposure in which an owner of a business is personally liable for all of the debts and obligations of the business what is the most popular form of business organization in the US? - sole proprietorship sole proprietorship advantages - -easily established -no partners or shareholders -only pay taxes on income generated -all after tax profit stays with the owner -minimal government regulation sole...

BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) Sole Proprietorship Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages •Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprie...

Entrepreneur - Answer-One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management Sole Proprietorship - Answer-The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. Sole Proprietorship in TX - Answer-You can establish without filing any legal documents. 1) choose a B...

BLAW 3391 Pleasant Exam 2 Questions With Verified Answers One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management - answerEntrepreneur The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. - answerSole Proprietorship You can establish without filing any legal do...

Sole Proprietorship - Answer-Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages - Answer-•Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprietorship Disadvantages - Answer-•Owner responsible for a...

A local business is looking to become a franchise. The company wants to predict the number of franchises, F, given a certain number of years, Y. This prediction is modeled by the function F( Y). What can be concluded by F(5) = 10? In 5 years, there will be 10 open stores. A bank begins a marketing campaign to increase its number of customers. Each month, all new customers are put into a drawing. One customer then receives a $50 credit in a checking account.The amount of money given away in the...

What is the food service industry? CORRECT ANSWER It's a vast industry encompassing every type of food service operation that provides meals to people away from their homes and sometimes even in their homes Two Segments of the Food Service Industry CORRECT ANSWER Commercial and Noncommercial Are sales larger in commercial or non commercial organizations? CORRECT ANSWER commercial industries generate significantly larger sales Quick Service Restaurants CORRECT ANSWER low check average a...

All of these are ASE certifications except: A. automatic transmission/transaxle. B. engine repair. C. service and maintenance. D. suspension and steering. correct answer: C. Service and Maintenance. Carquest, NAPA, and Jiffy Lube are examples of: A. Fleets B. Franchises. C. Dealerships D. Specialty Shops correct answer: B. Franchises Which is an ASE certification? A. General Maintenance B. Brakes C. Tire and Wheel D. Service correct answer: B. Brakes Which type of eye pro...

Test Bank for The Legal Environment Today 8e 8th Edition by Roger LeRoy Miller, Frank B. Cross. ISBN-13: 6560 Full Chapters test bank included Unit 1: The Foundations Ch 1: Business and Its Legal Environment Ch 1: Contents Ch 1: Learning Objectives Ch 1: Introduction Business Activities and the Legal Environment Sources of American Law The Common Law Tradition Classifications of Law Ch 1: Key Terms Ch 1: Chapter Summary: Business and Its Legal Environment Ch 1: Issue Spotters...

Types of Retail Ownership - Answer 1) Independents - One store, one owner. Usually they are trying to satisfy a very specialized market or locale. Example: Family owned corner stores, Boutique store that is run by the owner 2) Chains - Multiple stores/facilities, one owner/company. Example: Home Depot, Wal-Mart, Costco, Gap, Macy's, Safeway (A probably best fits this category) 3) Franchises - A franchisor owns the rights to a company and the name. A franchisee is allowed to open an outlet...