Assume that you have recently obtained your scuba instructors certification and have decided to start a scuba

Question:

Assume that you have recently obtained your scuba instructor’s certification and have decided to start a scuba diving school.

a. Describe the advantages and disadvantages of organizing your scuba diving school as a:

1. Sole proprietorship

2. Corporation

b. State your opinion about which form of organization would be best and explain the basis for your opinion.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

See More Books

Question Posted: Apr 17, 2014 09:53 AM

See More Questions

Describe the advantages and disadvantages of Wal-Marts aggressive union prevention efforts.
Describe the advantages and disadvantages of teams. In what situations might the disadvantages outweigh the advantages?
Describe the advantages and disadvantages of group decision making.
Reflect on the key elements of an effective professional development program. List the top three elements that must be included in an effective professional development program. Does your school's...
In Problem, find each derivative and simplify. a-3
Fraser Baker opened Baker?s Accounting Service in Winnipeg on September 1, 2021. On September 30, the balance sheet showed Cash $5,700; Accounts Receivable $2,100; Supplies $350; Equipment $7,600;...
After paying my regular bills each month, I have money left from my income. (A) Yes (B) Sometimes (C) Never
State Senator Bowdler convinced the legislature of State Z to pass a law requiring all professors to submit their class notes and transparencies to a board of censors to be sure that no lewd...
1. Which item below best describes the GAAP hierarchy in state and local government accounting, effective in 2015? A. GASB Statements and AICPA Industry Audit and Accounting Guides are considered...
The average height of females in the freshman class of a certain college has been 162.5 centimeters with a standard deviation of 6.9 centimeters. Is there reason to believe that there has been a...
Reeves, Inc. sold 1,000,000 shares of $25 par value common stock at $30. It subsequently re-purchased 100,000 of those shares at $50 per share and then sold 70,000 of those shares at $55. Calculate...
Listed below are 12 technical accounting terms discussed in this chapter: Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the...
For the Ewens distribution (12.5), show that the conditional distribution given $\# B=k$ is \[ p_{\theta}(B \mid \# B=k)=\frac{\prod_{b \in B} \Gamma(\# b)}{s_{n, k}} \] where $s_{n, k}$ is...
Perpetual Inventory Control Record Description: M & B Supreme Date Purchase Received Issued Sales Units Unit Cost June 1 Balance forward 3 $10.00 4 2 6 8 9 $10.50 9 12 32 3 6 2 4 15 6 10 $11.00 18 20...
A rectangular footing of size 4m by 5m is founded at 2m below ground level in a uniform deposit of saturated clay. The footing is designed to support a total vertical load of 8000 kN inclusive of the...
P6.2 At the start of Tom Stoppard's "Rosencrantz and Guildenstern are dead" 1, Rosencrantz finds a coin. Guildenstern watches as Rosencrantz repeatedly tosses the coin and every time it comes down...
For the data: 9 5 10 7 9 10 11 8 12 769 a) Compute the z-score for the raw score of 10 b) Find the raw score that corresponds to z=+1.22
(11%) Problem 7: After a bad thunderstorm, a loose power line comes to rest on a parked van. The van is insulated from the ground by its tires, and accumulates an electric charge of Q = 0.0012...
Risk management includes being prepared for the unexpected. Explain.
(a) Bright Sdn Bhd (BSB) is a tax resident manufacturing company in Johor, which involves in ceramic tiles. Currently, BSBs annual sales turnover has been forecasted to be around RM 300,000 for the...
German automobile manufacturer, Mercedes-Benz has repeatedly stated that it offers its customers a premium brand experience and doesnt just provide them with cars. Briefly explain what you can infer...
Briefly state the purposes of a statement of cash flows.
The only transaction recorded in the plant assets account of Pompei Company in the current year was a $220,000 credit to the Land account. Assuming that this credit resulted from a cash transaction;...
During the current year, the following credit entries were posted to the paid-in capital accounts of Crawford Shipyards: Capital Stock . . . . . . . . . . . . . . . . . . . . . $12,000,000 Additional...
Randy (48) takes a $22,000 distribution from his IRA to pay some of his daughter's $28,000 qualified education expenses at an eligible educational institution. His daughter paid $18,000 of her...
The takeover specialist chose to use the value derived from dividend discount model, while the directors prefer to use Net Realisable Value approach. Critically discuss the reasoning of each parties...
Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon...

Assume that you have recently obtained your scuba instructors certification and have decided to start a scuba

Question:

Step by Step Answer:

a 1 Organizing the scuba diving school as a sole proprietorship Advantages a Easy to form b No ...View the full answer

Financial and Managerial Accounting the basis for business decisions

Students also viewed these Accounting questions