personal finance section 6 assignment
Section 8 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is the Exit stage of a business? (0.5 points) business is when a business owner gets out of their day-to-day commitment to running the company
2. What does the human resources department of a company do? (0.5 points) handles things like employee hiring, firing, insurance and retirement benefits, payroll, and employee complaints
3. What is information utility? (0.5 points) the value added to a product by providing the consumer with useful information.
4. List the six stages of a business. (1.5 points) Identity, plan, start, operate, improve, end
Lesson 2 (3.0 points) 1. What is pass-through taxation? (0.5 points) Taxes on the company's income are paid on the personal tax forms of the company's owners
2. What is an advantage of a sole proprietorship? (0.5 points) It is east to set up.
3. What is an S corporation? (0.5 points) a corporation with special tax status. There are restrictions on the types of companies that can get this status
4. What is franchising? (0.5 points) a way of turning a company into a parent company with smaller retail outlets owned by independent operators
5. What can happen to a business owner who has personal liability for their company? (0.5 points) The business owner can be personally punished or fined for the company's actions
6. What is an entity? (0.5 points) a being, such as a person or company
Lesson 3 (3.0 points) 1. Why does doing research help a company succeed? (0.5 points) Understanding the market and competition helps the company identify opportunities and predict challenges.
2. What is a target market? (0.5 points) a specific group of people who are likely to want a product.
3. What are human risks? (0.5 points) risks created by people.
4. What is risk management? (0.5 points) the attempt to protect against risk by identifying and
2. What does the human resources department of a company do? (0.5 points) handles things like employee hiring, firing, insurance and retirement benefits, payroll, and employee complaints
3. What is information utility? (0.5 points) the value added to a product by providing the consumer with useful information.
4. List the six stages of a business. (1.5 points) Identity, plan, start, operate, improve, end
Lesson 2 (3.0 points) 1. What is pass-through taxation? (0.5 points) Taxes on the company's income are paid on the personal tax forms of the company's owners
2. What is an advantage of a sole proprietorship? (0.5 points) It is east to set up.
3. What is an S corporation? (0.5 points) a corporation with special tax status. There are restrictions on the types of companies that can get this status
4. What is franchising? (0.5 points) a way of turning a company into a parent company with smaller retail outlets owned by independent operators
5. What can happen to a business owner who has personal liability for their company? (0.5 points) The business owner can be personally punished or fined for the company's actions
6. What is an entity? (0.5 points) a being, such as a person or company
Lesson 3 (3.0 points) 1. Why does doing research help a company succeed? (0.5 points) Understanding the market and competition helps the company identify opportunities and predict challenges.
2. What is a target market? (0.5 points) a specific group of people who are likely to want a product.
3. What are human risks? (0.5 points) risks created by people.
4. What is risk management? (0.5 points) the attempt to protect against risk by identifying and