Answer: necessity entrepreneur
Explanation: While an entrepreneur is described as someone who organizes and operates a business venture and assumes much of the associated risks, necessity entrepreneurs only do so out of necessity (the quality or state of being necessary, unavoidable, or absolute requisite). As such, they are individuals ranging from educated persons to street sellers especially in developing countries who create small businesses or enterprises out of the need to survive. In Michael Peters' case, he lost his job due to downsizing which caused him to apply his skills and talents to starting up a business.
Answer:
$200,000 and $500,000
Explanation:
The computations are shown below:
For gain recognized:
= Fair market value of the received land - corporation basis
= $500,000 - $300,000
= $200,000
For land basis received by Red Blossom corporation:
= $500,000
It records only the fair market value of the land, not the land basis for tea Company so only $500,000 would be considered
Answer:
B. Stage 3
Explanation:
Kohlberg's stages of moral development refers to the various stages of how individuals respond morally and under what circumstances. The theory is based upon how morals guide our actions and moral dilemmas faced by individuals.
Among the various stages defined by Kohlberg, Stage 3 corresponds to acting to serve the best interests of the client as well as maintaining good interpersonal relationships.
Under stage 3, an individual seeks social approval in his acts i.e his actions are governed by social values.
