Ross Nicholls retired few years ago at the age of 60. Ross has considered starting his own business. Ross has hired the consulting firm for which your group works to give him a brief tutorial on business and finance. To begin his lesson, Ross has asked you to answer the following questions:

A. What finance entails, and why is it essential to understand finance to run an effective and successful business?

B.WhatarethealternativetypesofbusinessorganisationinAustralia?Whatarethe advantages and disadvantages of each? (2 Marks).

C. Explainwhatdifferencesintaxratesexistbetweendifferentbusinessorganisationsin Australia? (2 Marks).

D.

What does it mean to maximise value? (2 Marks).

E. ExplaintheconcernsthatAustraliancompaniesshouldconsiderbeforemovingthe operation to foreign countries.