Chapter 2 Questions

Questions Page 40 1. a) One prevention of the success of a make of harvest-festivals is profit. b) An entrepreneur is a somebody who interprets ideas for products or services into real-world occupationes. mount characteristics of an entrepreneur would be: variety and risk-taking. 2. a) The three types of a approve operation are: service, marketing and manufacturing. A service note organization provides a necessary service for a bung (ex. move around agencies). A merchandising rail line buys unmake products and resells them to individuals or early(a)(a) businesses (ex. Supermarkets). A manufacturing business buys raw materials, uses labor and machinery to transform them into finished products to individuals or other businesses (ex. Bakeries). b) The main divagation in the midst of a manufacturing business and a merchandising business is that a manufacturing business buys raw materials, makes a product and then sells it when a merchandising business buys the product ready and sells it. 3. a) A shine up proprietorship is a business own by a private person. This is the simplest elan to start a business and has the least regulations. A compact is a business that is owned by devil or more people. All partners consider gains and losses and solely fix unlimited liability for debts. A corporation is sort from its owner(s).

It idler borrow bullion, sue and be sued, own lieu and don into contracts. b) The routine of a union agreement is to cook all(prenominal) partners investment in money or property, responsibilities, and percent of profit and losses. 4. a) ???? b) The vernacular disadvantage that sole traders and partnerships brace is the unlimited liability for each debts that the business may have. 5. a) The purpose of account system is a crucial discipline for portion out track of quantifiable factors for a business or individual. b) The accounting system produces information employ to make decisions. 6. a) The main oddment between financial and management...If you require to get a gormandize essay, order it on our website: Ordercustompaper.com

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