Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi this question is for business law, please answer as soon as possible. Thank you Section 2 Business organizations (32 TOTAL MARKS) 5. Please start

image text in transcribed

Hi this question is for business law, please answer as soon as possible. Thank you

image text in transcribed
Section 2 Business organizations (32 TOTAL MARKS) 5. Please start a hypothetical business and answer the following (30 Marks total): a. Describe your hypothetical business in a sentence or two. (2 marks) b. Without giving away any confidential information, what is one thing that sets your business apart from the competition? (2 marks) c. Which basic business organization did you choose and why? (3 marks) d. What is one advantage of another type of business organization you did not select? (1 mark) e. What is one level of government that you must interact with to operate your business and what is one thing required by that level of government? (2 marks) f. What is your business name; why did you choose that business name and what government requirement did you need to respect regarding your name choice? (3 marks) g. What is one contract or type of contract that your business will enter? (1 mark) h. Who will sign the contract in g. on behalf of the business and in what legal capacity? (2 marks) i, How will you finance your business? What will the people who provide your business with funds receive in consideration for those funds? (3 marks) j. How is your business taxed? (2 marks) k. How will you receive money from the business and how will you be taxed on that money? (2 marks) 1. Who owns the assets of your business? (2 marks) m. Identify one risk facing your business and one thing you will do to reduce that risk. (2| marks) n. Your circumstances change, and you want to transfer your business interest. Can you do this and what are two steps you would take

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Business Law And Its Environment

Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge, Beverley Earle

8th Edition

0538473614, 978-0538473613

More Books

Students also viewed these Law questions

Question

What is difference between notify() and notifyAll()?

Answered: 1 week ago

Question

How is vacation and sick time accrued?

Answered: 1 week ago

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago