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AnnyKZ [126]
3 years ago
7

LO 2.1Identify the three primary classifications of businesses and explain the differences among the three.

Business
1 answer:
cricket20 [7]3 years ago
8 0

Three Primary Classifications of Businesses

We can classify businesses into following three types

1: Sole Proprietorship

2: Partnership

3: Corporation

Explanation of the Differences Among Them

Sole Proprietorship

It is also known as the sole ownership, it is run by one single person who works as the owner, this type does not fall under any legal entity title. It is most simplest form of business where one man, the owner bears all the profits, losses and responsibilities like local grocery corner shop etc.

Partnership

Here in partnership, there are two or more than two persons who open a businesses on profit and loss sharing basis which could be different as per their agreement. They all are equally responsible for the responsibilities and liabilities of that business.

Corporation

Corporation can defined as a legal entity which has nothing to do with owners, it is totally a separated being from its owners. It has its own liability, functions and rules. Corporation can sign any contract by its own even without interference from its owners. It has board of governors who basically run them independently. Walmart, Apple, Microsoft, Samsung, Nokia are the best examples of Corporation

Therefore, these are basic differences between these three primary types of businesses.

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When the economy is at full​ employment, A. the unemployment rate is greater than zero. B. all remaining unemployment is either
Andrej [43]

Answer:

D. All of the above.

Explanation:

Full employment describes an economic situation where every able and willing worker is employed. It represents a situation where the highest possibles numbers of unskilled and skilled people are in employment. In practice, full employment is when the economy attains the optimal levels of unemployment.

At full employment, the unemployment rate will be above zero percent. The reason is that the economy will always have as frictional unemployment. Frictional unemployment is the time it takes for an individual to find their ideal job. Structural and frictional unemployment contribute about 2 to 3 percent of unemployment in the economy. Economists thus consider a 3  percent unemployment as full employment.

3 0
3 years ago
1. One of the major changes resulting from managed care is the requirement of providers to assume accountability for: A. The tre
11111nata11111 [884]

Answer:

The correct answer is B) The appropriateness of interventions

Explanation:

Managed care is evolving in many countries around the world.

One of the ways in which changes are becoming more prevalent is in the managed care industry is that due to competition, that players are beginning to take seriously the quality of health care being given to enrollees.

All of this is happening simultaneously with the bid to provide these services at the lowest cost possible with providers playing for marketing share.

In Managed care, if customers are treated fairly, they are most likely to return thus creating the possibility for sustained organic growth.

Cheers!

4 0
3 years ago
A company that adapts its product features for an international market is pursuing one of the three principle strategic options:
sergij07 [2.7K]

Answer: A company that adapts its product features for an international market is pursuing "B. A global strategy of offering products to a worldwide market.".

Explanation: A global business strategy implies participation in the world market and requires adaptation before applying it.

3 0
3 years ago
Costs, also called differential costs, are the additional costs from selecting a certain course of action.
Ilia_Sergeevich [38]

It is true that Costs, also called differential costs, are the additional costs from selecting a certain course of action.

<h3>What is differential costs?</h3>

Differential cost serves as the  difference between the cost of alternative decisions.

Therefore, It is true that Costs, also called differential costs, are the additional costs from selecting a certain course of action and the  cost do take place when a business have several similar options,

Learn more about differential costs, at

brainly.com/question/25799822

#SPJ1

8 0
2 years ago
Bledsoe Company received $15,000 cash from the issue of stock on January 1, 2013. During 2013 Bledsoe earned $8,500 of revenue o
kati45 [8]

Answer:

Total assets is increased by $18,100

Explanation:

The computation is shown below:

= Cash received from the issue of stock + revenue earned on account - cash paid for operating expenses

= $15,000 + $8,500 - $5,400

= $18,400

This positive amount shows that there is an increase in the total assets for $18,100

The cash collected from the account receivable is not relevant. Hence ignored it

5 0
3 years ago
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