Business Driven Technology
7th Edition
ISBN: 9781259567322
Author: Paige Baltzan Instructor
Publisher: McGraw-Hill Education
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Question
Chapter B, Problem B1.1MBD
Program Plan Intro
Common business forms:
- Sole proprietorship:
- A single person is only owner and accountable for all profits and losses of business.
- It is quickest and easiest way for setting up a business operation.
- No specific costs are been associated with starting a sole proprietorship.
- A license cost of 25$ from local country clerk is enough for starting sole proprietorship
- Partnership:
- It permits for more than one proprietor.
- Each partner will be personally responsible for all profits as well as losses of business.
- No specific costs are been associated with starting a partnership.
- A partnership agreement denotes a legal contract between two or more business partners that would outline core issues in business.
- A limited partnership is like a general partnership apart from that it protects limited partner from responsibilities of losses.
- Corporation:
- It is an artificially formed legal entity that would exist separately, apart from persons who created and carry out operations.
- The business entity differs from business owners.
- A limited liability is delivered for shareholders in a corporation.
- The types of corporation includes:
- For profit corporations
- It focuses on making money; profits as well as losses are shared by business owners.
- Not for profit corporations
- It accomplishes some charitable, philanthropic or educational purpose.
- Profits as well as losses are not been shared by business owners.
- For profit corporations
Expert Solution & Answer
Explanation of Solution
Comparison of business forms:
Sole proprietorship | Partnership | Corporation | |
Licensing | Local license is needed, worth 25 $ only. | Partnership agreement and legal fees required | Incorporation articles by secretary of state. |
Income | Profit flows into income | Distributed among partners as decided | Personal earnings and business remains separate |
Liability | Owner is liable | Owners are liable | Business is liable |
Recommendation:
- A limited liability partnership is been recommended to Olivia for her business.
- It protects her from liabilities.
- If one person becomes a limited partner then liabilities may differ.
- Hence, partnership would be best option for Olivia.
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Leah Jones is the IT manager at Rock Solid Outfitters, a medium-sized supplier of outdoor climbing and camping gear. Steve Allen, the marketing director, has asked Leah to develop a special web-based promotion. As Steve described it to Leah, Rock Solid will provide free shipping for any customer who either completes an online survey form or signs up for the Rock Solid online newsletter. Additionally, if a customer completes the survey and signs up for the newsletter, Rock Solid will provide a $10 merchandise credit for orders of $100 or more. Leah has asked you to develop a decision table that will reflect the promotional rules that a programmer will use. She wants you to show all possibilities.
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Read the following Case Study
Leah Jones is the IT manager at Rock Solid Outfitters, a medium-sized supplier of outdoor climbing and camping gear. Steve Allen, the marketing director, has asked Leah to develop a special web-based promotion. As Steve described it to Leah, Rock Solid will provide free shipping for any customer who either completes an online survey form or signs up for the Rock Solid online newsletter. Additionally, if a customer completes the survey and signs up for the newsletter, Rock Solid will provide a $10 merchandise credit for orders of $100 or more. Leah has asked you to develop a decision table that will reflect the promotional rules that a programmer will use. She wants you to show all possibilities.
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Chapter B Solutions
Business Driven Technology
Ch. B - Prob. B1.1MBDCh. B - Prob. B1.2MBDCh. B - Prob. B1.3MBDCh. B - Prob. B1.4MBDCh. B - Prob. B1.5MBDCh. B - Prob. B1.6MBDCh. B - Prob. B2.1MBDCh. B - Modeling a Business Process Do you hate waiting in...Ch. B - Prob. B2.3MBDCh. B - Prob. B2.4MBD
Ch. B - Prob. B2.5MBDCh. B - Prob. B3.1MBDCh. B - Prob. B3.2MBDCh. B - Prob. B4.1MBDCh. B - Prob. B4.2MBDCh. B - Prob. B4.3MBDCh. B - Prob. B4.4MBDCh. B - Prob. B4.5MBDCh. B - Prob. B4.6MBDCh. B - Prob. B4.7MBDCh. B - Prob. B4.8MBDCh. B - Prob. B4.9MBDCh. B - Prob. B4.10MBDCh. B - Prob. B4.11MBDCh. B - Prob. B5.1MBDCh. B - Prob. B5.2MBDCh. B - Prob. B5.3MBDCh. B - Prob. B5.4MBDCh. B - Prob. B5.5MBDCh. B - Prob. B5.6MBDCh. B - Prob. B6.1MBDCh. B - Prob. B6.2MBDCh. B - Prob. B6.3MBDCh. B - Prob. B6.4MBDCh. B - Prob. B6.5MBDCh. B - Prob. B7.1MBDCh. B - Prob. B7.2MBDCh. B - Prob. B7.3MBDCh. B - Prob. B7.4MBDCh. B - Prob. B7.5MBDCh. B - Prob. B7.6MBDCh. B - Prob. B7.7MBDCh. B - Prob. B7.8MBDCh. B - Prob. B7.9MBDCh. B - Prob. B7.10MBDCh. B - Prob. B7.11MBDCh. B - Prob. B8.1MBDCh. B - Prob. B8.2MBDCh. B - Prob. B9.1MBDCh. B - Prob. B9.2MBDCh. B - Prob. B9.3MBDCh. B - Prob. B9.4MBDCh. B - Prob. B9.5MBDCh. B - Prob. B9.6MBDCh. B - Prob. B9.7MBDCh. B - Prob. B9.8MBDCh. B - Prob. B9.9MBDCh. B - Prob. B9.10MBDCh. B - Prob. B10.1MBDCh. B - Prob. B10.2MBDCh. B - Prob. B10.3MBDCh. B - Prob. B10.4MBDCh. B - Prob. B10.5MBDCh. B - Prob. B11.1MBDCh. B - Prob. B11.2MBDCh. B - Prob. B11.3MBDCh. B - Prob. B11.4MBDCh. B - Prob. B12.1MBDCh. B - Prob. B12.2MBDCh. B - Prob. B12.3MBDCh. B - Prob. B12.4MBDCh. B - Prob. B12.5MBDCh. B - Prob. B12.6MBD
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