MIE 201 jeopardy questions well answered 2023/2024 already passed

MIE 201 jeopardy questionsThis is a legal entity whose assets and liabilities are separate from those of its owner. It can also enter into contracts with individuals or other legal entities - correct answer corporation flexibility and control of the business: the ability to make decisions on the spot, ease and cost of formation, secrecy, distribution and use of profits, govt regulation, and taxation are all advantages of this - correct answer sole proprietorships GL Inc, a firm facing a threat of bankruptcy, did not want to be acquired by Red Phoenix Inc. thus, the management of GL Inc approached Fortum Inc, which was willing to acquire Gl Inc. in this scenario Fortum Inc. is referred to as: - correct answer White knight ease of transfer of ownership is an advantage of this form of business ownership - correct answer corporation Bridgitte and Carlotta have started a business together; Carlotta put up half the money, but she is not involved in the management of the company. Bridgitte does all the hiring and supervising, as well as the general operation of the company. they share in the profits. This scenario represents this kind of partnership: - correct answer limited partnership A small business is any independently owned and operated business that is not ____ in its competitive area and does not employ more than ____ people. - correct answer dominant; 500 In comparison to large companies, small businesses are more likely to have lower of these costs - correct answer lower initial start-up costs Naaman leased a small building in his neighborhood and converted it into a hotel. He had assumed that he could run a successful business if he had enough money to get started. However, his business faced seasonal variations in sales. He now finds it difficult to meet the day to day expenses of the business. He is facing this kind of business problem. - correct answer undercapitalization