(100 POINTS) Please prepare a summary (1 or 2 pages) that identifies a current news event that impacts business. Please include details of the event and how it impacts business with specifics. Also please draw a conclusion about whether the impact is positive or negative and how. A drop box will be available in College ASSIGNMENT 3 (1College DROP BOX SUBMISSION) (100 POINTS) Please familiarize yourself with the syllabus as well as the course outline/agenda. Week ONE of the agenda assigns two videos for you to watch. Please prepare a summary for each video about what Insights you got from the video and how you might apply those to your daily life. The video summaries can be submitted to the drop box as ONE document, Quiz Ch2 Time Limit0:40:00 Time Left:0:37:05 Thats Habtu Anempt 1 Page 1 Question 1 (1 point) Generally accepted accounting principles 1 2 5 are accounting rules formulated by the Internal Revenue Service 6 are sound in theory but rarely used in real life. 7 are accounting rules that are recognized as a general guide for financial reporting 10 11 12 have eliminated all errors in accounting Question 2 (1 point) The agency of the United States Government that oversees the U.S.financial markets is the Internal Revenue Service Security Exchange Commission 23 GIV Q $ 4 % 5 01 > & 7 8 9 o 2 3 0 P T R Y U W E L H . F G S D 4 v M N V 00 C N In 1992, FUBU was founded by Daymon John, J. Alexander Martin and Carlton Brown as a hat company based in Hollis, Queens, New York. Over the next 20 years. FUBU expanded its product line to include not only hats, but also jeans, rugby shirts, football and hockey jerseys T-shirt, baseball caps and shoes and it also expanded globally. In addition to clothing, the company also developed a record label. Research and read about the company's history. You'll discover that the company has had highs and lows, including making the decision to leave and reenter the U.S. market for apparel 1. Identify the main activities or functions of FUBU's business and explain how each activity benchts the company 2. What are some of the external factors that have an influence on business? How did these external factors specifically influence this particular business? 3. What do you think about FUBU's decision to leave the U.S. apparel market? If you were consulting to the leaders of FUBU, what advice would you give them regarding their plans to reenter the market