(Q1-4): Consider a business that you would like to work for at some point. Imagine that you are the new owner of this business. Answer the following questions to show your understanding of how firms function and the issues that owners and managers encounter. 1. Name the business and give a description/overview of your understanding of how the business functions. ie what it does, how it does it and where it makes its revenue. (1 mark) 2. Explain a specific major financial decision that you may need to make as the owner/manager of this business. (1 mark) 3. Describe the structure of the business and contrast the positives and negatives of this structure with alternative typical business structures in Australia. (2 marks) 4. Discuss any potential Agency issues that you may encounter if you choose to hire a manager for your business and suggest a way that you could use to overcome these. (1 mark) (Q1-4): Consider a business that you would like to work for at some point. Imagine that you are the new owner of this business. Answer the following questions to show your understanding of how firms function and the issues that owners and managers encounter. 1. Name the business and give a description/overview of your understanding of how the business functions. ie what it does, how it does it and where it makes its revenue. (1 mark) 2. Explain a specific major financial decision that you may need to make as the owner/manager of this business. (1 mark) 3. Describe the structure of the business and contrast the positives and negatives of this structure with alternative typical business structures in Australia. (2 marks) 4. Discuss any potential Agency issues that you may encounter if you choose to hire a manager for your business and suggest a way that you could use to overcome these. (1 mark)