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Katen [24]
2 years ago
10

Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He

does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate
Business
1 answer:
rusak2 [61]2 years ago
5 0

Owen plans to open Owen's Pets Store, a pet supplies outlet, and to hire Quinn and Ruth. Owen will invest only his own money. He does not expect to make any profit for at least two years and to make almost no profit for the first three years, but he hopes to expand eventually. Which form of business organization would be most appropriate Owen employs few workers and is not expected to earn profit for the first few years. Although, he still hopes to expand his outlet. In this case, a sole proprietorship is the best option because it is easier and cheaper to start a company. The business owner is free to make all decisions without any consultations. The sole proprietorship earns moderate profits and does not require huge funds in the near future. Owen employs only Quinn and Ruth to run the pet store, which means that it is a comparatively small outlet and does not require huge funds for its financing. Owen will enjoy one more advantage of paying a single tax. This means that the owner (Owen) is required to pay tax either on profits or personal income. This is because, in this organization, the owner and the business are the same entity. The earnings from the business are the personal income of the owner.

<h3>What is business organization?</h3>

The word "business organization" refers to the organizational structure of businesses and how such structure aids in achieving their objectives. Businesses are often built to concentrate on either making a profit or helping society. A company is considered a for-profit entity when it prioritizes making money. An organization is referred to as a nonprofit (or not-for-profit) organization and is not often called a business when it aims to further the social good through the arts, education, health care, or some other sector.

To learn more about business organization from the given link:

brainly.com/question/24734641

#SPJ4

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In response to accounting scandals and the collapse of Enron at the turn of the century, the U.S. Congress passed the Sarbanes-O
Klio2033 [76]

Answer:

  1. b. Financial scandals and corporate fraud.
  2. b. By legally requiring companies to certify the truth of their statements to investors.
  3. d. The cost and difficulties of compliance.

Explanation:

After the U.S. was rocked by the financial scandals and corporate fraud of companies like Enron and WorldCom, the U.S. Congress enacted the Sarbanes-Oxley Act to mitigate the risk of such ever occurring again.

The Act involves making the management personally liable for the accuracy of the statements by legally requiring companies to certify the truth in their statements to their investors.

While this seems easy enough, it requires a lot of information gathering which has left companies paying millions to comply.

5 0
2 years ago
As the level of activity increases, how will a mixed cost in total and per unit behave? In Total Per Unit A) Increase Decrease B
Airida [17]

Answer:

A) Increase Decrease

Explanation:

As we know that

Mixed cost is the combination of both fixed cost and the variable cost

Mixed costs are costs in which one component of cost is Fixed and the other component is variable

In equation form,

Mixed cost = Fixed cost + variable cost

In the case of variable cost, the per unit would remain the same and it increased when production increases

But the fixed cost amount would remain the same  but if the production rises the per unit declines

Similarly, Fixed costs remain the same in Total and decreases per unit with increase in production

Therefore option A is correct

8 0
3 years ago
During 2019, Travis purchases $13,000 of used manufacturing equipment (7-year property) for use in his business, his only asset
skelet666 [1.2K]

Answer:

$13,000

Explanation:

Most property purchased during 2019 and beyond, may be expenses using Section 179 tax deductions. The limit for 2019 was $1 million and that is way more than $13,000. Section 179 is one of the few benefits that small business got from the Tax Cut and Jobs Act, and it can be really useful.

Businesses can deduct the full purchase price of qualifying equipment (used manufacturing equipment qualifies) as long as it was purchased after January 1, 2019. This is an incentive created to encourage businesses to buy more equipment and invest more.

5 0
3 years ago
discuss the influences of supply and demand in your daily life. describe one good and one service you use daily, and describe th
tester [92]

Answer:

I use coffee daily. The supply for the coffee I bought (Colombian Coffee) is few then the price is expensive.  As the price is expensive I can only buy 2 pounds of this item per month. My demand is affected for the price that producers set to this coffee. I would like to buy more but then the supply of this product is limited therefore the prices will always be high.

7 0
2 years ago
How does consumer response to advertising vary on different days of the week and at different times of the day
Romashka-Z-Leto [24]

Answer:

The theme is very complex, however a short explanation of that type of distribution is given below with and example.

Explanation:

To begin with, that distribution of variables will totally depend on the type of product that is being under study. Having that in mind, the distribution to the advertising will be more or less strong on the consumer's attention depending on the day. Therefore that, for example, if the case is about an alcoholic drink or something related to the weekends like clothes for going out or something like that, then the advertising will cause more impact in the consumer on fridays and saturdays and that will be like that because the consumer will now be exposed to the possible situation of going out that exact night so he or she might want to consumer an alcoholic drink.

It will be the same with the hours of every day, if the advertising is shown late at night but before party time, then the consumers will be exposed to that commercial and will the necessity of buying, psychologically speaking.

3 0
2 years ago
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