NASCLA Contractors Guide Arkansas
8th Edition Complete Solution Rated
A+..Updated|2024
Poor aa_________ aaand aainadequate aa____________ aaare aaoverriding aafactors aain aabusiness aafailure
Planning; aaManagement
entrepreneur A aaperson aaengaged aain aastrategic aaactivities aathat aainvolve aathe aainitiation aaand
aadevelopment aaof aaa aa new aa business, aacreated aato aabuild aa long aaterm aa value aa and aa steady aacash aa flow
Calculated aarisk a aarisk aathat aais aawell aa- aathought aathrough aawhere aaall aaoutcomes aaare
aaconsidered
rewards aaof aaowning aayour aaown aabusiness - aabeing aayour aaown aaboss
-having aaflexibility aaof aatime
-having aamore aafreedom aaand aaindependence aa
-making aayour aaown aadecisions aa
-receiving aapersonal aasatisfaction aafrom aacompleting aaa aajob
A aabusiness aaplan aashould aabe aaa aa_________ aa____________ aathat aachanges aaas aayour aabusiness aaand
aathe aa market aachange living aadocument
Business aaplan aakey aafunctions 1. aaPlanning aatool aa
2. aaLoan aaor aainvestor aadocument aa
3. aaBenchmark aatool
Elements aaof aaa aabusiness aaplan 1. aacover aapage aa
2. aaExecutive aasummary aa
3. aaCompany aasummary aa
4. aaProducts aaand aaServices aa
5. aaMarket aaanalysis aa
6. aaMarket aastrategy
7. aaFinancial aaplan
Business aaPlan aaPitfalls - aamake aasure aayour aaassumptions aaare aarealistic aa
- aakeep aathe aalanguage aasimple aa
- aacover aathe aarisk aaas aawell aaas aathe aaopportunities aa
, - aaanalyze aayour aacompetition aathoroughly
Sole aaProprietorship this aabusiness aastructure aaoffers aaeasy aaformation aaand aaoperation, aahowever,
aaunlimited aapersonal aa liability aa is aaa aaconcern aa because aathe aa business aaand aaowner aaare aa considered
aathe aa same aa legal aaentity
Advantages aaof aaa aaSole aaProprietorship - aaMinimal aalegal aarestrictions aa
- aasimple aaownership aaform aa
- aalow aastartup aacost aa
- aasole aaownership aaprofits aa
- aafreedom aain aadecision aamaking aaprocess
Disadvantages aaof aaSole aaProprietorship - aaunlimited aapersonal aaliability aa
- aaless aaavailable aacapital aa
- aapossible aadifficulty aaobtaining aalong-term aafinancing aa
-dissolution aaof aathe aabusiness aain aathe aaevent aaof aathe aaowners aadeath
Partnership can aabring aatogether aatwo aaor aamore aapeople aawith aastrengths aaand aaresources aain
aadifferent aaareas aa but aaalso aaallow aa for aaunlimited aapersonal aa liability aaof aageneral aapartners. aato
aareduce aa conflicts aaamong aapartners, aaresponsibilities aaand aa business aagoals aa must aabe aaclearly
aaoutlined aaat aathe aa beginning aaof aathe aa business aa arrangement
Advantages aaof aaa aageneral aapartnership -ease aaof aaformation
-direct aaprofit aarewards
-larger aamanagement aabase aathan aathat aaof aaa aasole aaproprietorship
General aapartnership can aabe aaformed aathrough aaan aaoral aaagreement, aabut aait aais aarecommended
aathat aaa aawritten aapartnership aaagreement aa be aa made
limited aapartnership A aapartnership aawith aaone aaor aamore aageneral aapartners aaand aaone aaor aamore
aa limited aapartners.
disadvantages aaof aaa aaGeneral aaPartnership - aaUnlimited aapersonal aaliability aaof aageneral aapartners
aa
- aamultiple aadecision aamakers
- aalimited aalife aaof aathe aabusiness
- aaChanges aaof aapartners aaor aapartnership aaagreement aamay aabe aadifficult aa
- aapartnership aadissolves aain aathe aaevent aaof aathe aadeath aaof aaa aageneral aapartner
Partnership, aaLimited aaliability aapartnerships, aaand aaLimited aaliability aapartnerships aamust aaregister
aathrough aathe..... Arkansas aasecretary aaof aastate
C aaCorporationOffer aaliability aaprotection aato aathe aaowners aaand aaeasy aaownership aatransfer aathrough
aastock aasales. aathis aa business aa structure aa is aa more aacomplex aato aaoperate aaand aashareholders aa may aa be
aa"double-taxed" aaon aatheir aaearnings
Advantages aaof aaa aaC aaCorporation - aaSeparate aalegal aaentity aa
8th Edition Complete Solution Rated
A+..Updated|2024
Poor aa_________ aaand aainadequate aa____________ aaare aaoverriding aafactors aain aabusiness aafailure
Planning; aaManagement
entrepreneur A aaperson aaengaged aain aastrategic aaactivities aathat aainvolve aathe aainitiation aaand
aadevelopment aaof aaa aa new aa business, aacreated aato aabuild aa long aaterm aa value aa and aa steady aacash aa flow
Calculated aarisk a aarisk aathat aais aawell aa- aathought aathrough aawhere aaall aaoutcomes aaare
aaconsidered
rewards aaof aaowning aayour aaown aabusiness - aabeing aayour aaown aaboss
-having aaflexibility aaof aatime
-having aamore aafreedom aaand aaindependence aa
-making aayour aaown aadecisions aa
-receiving aapersonal aasatisfaction aafrom aacompleting aaa aajob
A aabusiness aaplan aashould aabe aaa aa_________ aa____________ aathat aachanges aaas aayour aabusiness aaand
aathe aa market aachange living aadocument
Business aaplan aakey aafunctions 1. aaPlanning aatool aa
2. aaLoan aaor aainvestor aadocument aa
3. aaBenchmark aatool
Elements aaof aaa aabusiness aaplan 1. aacover aapage aa
2. aaExecutive aasummary aa
3. aaCompany aasummary aa
4. aaProducts aaand aaServices aa
5. aaMarket aaanalysis aa
6. aaMarket aastrategy
7. aaFinancial aaplan
Business aaPlan aaPitfalls - aamake aasure aayour aaassumptions aaare aarealistic aa
- aakeep aathe aalanguage aasimple aa
- aacover aathe aarisk aaas aawell aaas aathe aaopportunities aa
, - aaanalyze aayour aacompetition aathoroughly
Sole aaProprietorship this aabusiness aastructure aaoffers aaeasy aaformation aaand aaoperation, aahowever,
aaunlimited aapersonal aa liability aa is aaa aaconcern aa because aathe aa business aaand aaowner aaare aa considered
aathe aa same aa legal aaentity
Advantages aaof aaa aaSole aaProprietorship - aaMinimal aalegal aarestrictions aa
- aasimple aaownership aaform aa
- aalow aastartup aacost aa
- aasole aaownership aaprofits aa
- aafreedom aain aadecision aamaking aaprocess
Disadvantages aaof aaSole aaProprietorship - aaunlimited aapersonal aaliability aa
- aaless aaavailable aacapital aa
- aapossible aadifficulty aaobtaining aalong-term aafinancing aa
-dissolution aaof aathe aabusiness aain aathe aaevent aaof aathe aaowners aadeath
Partnership can aabring aatogether aatwo aaor aamore aapeople aawith aastrengths aaand aaresources aain
aadifferent aaareas aa but aaalso aaallow aa for aaunlimited aapersonal aa liability aaof aageneral aapartners. aato
aareduce aa conflicts aaamong aapartners, aaresponsibilities aaand aa business aagoals aa must aabe aaclearly
aaoutlined aaat aathe aa beginning aaof aathe aa business aa arrangement
Advantages aaof aaa aageneral aapartnership -ease aaof aaformation
-direct aaprofit aarewards
-larger aamanagement aabase aathan aathat aaof aaa aasole aaproprietorship
General aapartnership can aabe aaformed aathrough aaan aaoral aaagreement, aabut aait aais aarecommended
aathat aaa aawritten aapartnership aaagreement aa be aa made
limited aapartnership A aapartnership aawith aaone aaor aamore aageneral aapartners aaand aaone aaor aamore
aa limited aapartners.
disadvantages aaof aaa aaGeneral aaPartnership - aaUnlimited aapersonal aaliability aaof aageneral aapartners
aa
- aamultiple aadecision aamakers
- aalimited aalife aaof aathe aabusiness
- aaChanges aaof aapartners aaor aapartnership aaagreement aamay aabe aadifficult aa
- aapartnership aadissolves aain aathe aaevent aaof aathe aadeath aaof aaa aageneral aapartner
Partnership, aaLimited aaliability aapartnerships, aaand aaLimited aaliability aapartnerships aamust aaregister
aathrough aathe..... Arkansas aasecretary aaof aastate
C aaCorporationOffer aaliability aaprotection aato aathe aaowners aaand aaeasy aaownership aatransfer aathrough
aastock aasales. aathis aa business aa structure aa is aa more aacomplex aato aaoperate aaand aashareholders aa may aa be
aa"double-taxed" aaon aatheir aaearnings
Advantages aaof aaa aaC aaCorporation - aaSeparate aalegal aaentity aa
