Answered: if someone buys a business but hires…

if someone buys a business but hires professional managers to rub it so they dont have to be involved in the operations are they an entrepreneur?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 4Q: What are some of the reasons a business owner might choose the corporate form of business?

See similar textbooks

Related questions

Q: Sean's restaurant, you must deal with a variety of business transactions. Give an example of a…

A: Since we only answer up to 3 subparts, we will answer the first 3. Please resubmit the question and…

Q: What is significant influence and what factors are considered to determine if you have significant…

A: Lets understand the basics. Business combination is made by entity by acquiring another entity. It…

Q: SHORT ANSWER Why is it important that a small business manager understand accounting if the company…

A: Accounting, the important element: Accounting is essential to the victory of any business in a…

Q: Can a business survive without a business plan?

A: In today's world of economy we would likely to know how important a business in our society. Most…

Q: Legal information exposes the Entrepreneur to all rules and regulatory aspects of the business. True…

A: Legal environment is an environment which shows all the rules , laws and regulations that are to be…

Q: Identify the reason why some individual is afraid to start a business. a. It is stress free b. It…

A: Business means doing some activity to earn some profits like buying and selling goods or…

Q: Why should persons who pursue careers in business have a basic understanding of finance even if…

A: Finance in basic terms is the money that an individual or a corporation has and all such decision…

Q: A combination of banking and consultancy services is called Merchant Banking that banks provide to…

A: In the financial system, merchant banking institutions are financial institutions that do not deal…

Q: Is there a specific reason why someone decides to start a business

A: The term "sole proprietorship" refers to a person who establishes their own company by themselves.

Q: How can you help people to open new business by explaining different forms of business and its…

A: A business refers to an organization engaged in commercial, industrial, or professional activities.…

Q: Do you ever wonder why these Breakeven Charts are necessary to prepare only for manufacturing…

A: Break-Even Point: It is the point of sales at which entity neither earns a profit nor suffers a…

Q: how does prior knowledge in profit and loss helps you change your vision about running a business?

A: Knowledge about profit and loss in running a business plays a crucial role.

Q: What drives a person to establish their own company, and what are the benefits of doing so

A: In business, the word "sole proprietorship" refers to a person responsible for establishing their…

Q: All of the following, excer one, are examples of investment. Which is the exception? O A graphic…

A: Investment is defined as the dedication of assets for attaining the rise in the value over the…

Q: Advantage and disadvantage Owning your own business and working for someone else

A: Business is an organisation that engaged in commercial and industrial activities. These are…

Q: Why would an entrepreneur consider selling their business

A: There could be several reasons for an entrepreneur consider selling their business.

Q: 1- Ahamed Al Riyami is managing a business with no ownership and he get the resources from the…

A: When the individual is conducting the business activities with the intention of earning profits from…

Q: Is it important or are there pros for businesses having more than one accountant? if yes why is this…

A: Accountant: Accountant can be defined as professional individual appointed by a business entity for…

Q: A. The owner invests more money in the business. Type your response here:

A: a) Investing cash in business will increase asset in the form of cash and owner's equity either by…

Q: The form of organization for a business is not an important issue, as this decision has very little…

A: A business enterprise can have different forms of organization such as partnership, sole propriety,…

Q: What are the common barriers to entry that the entrepreneurs can experience in business operation?

A: Barriers to entry are the obstacles or hurdles that make it difficult or prevent new enterprises to…

Q: Product liability created a business opportunity for the legal profession but frivilous lawsuits are…

A: Answer:- Product liability:- Product liability can be defined as the legal field where…

Q: What drives someone to start their own company

A: This question explains about drives someone to start their own company

Q: Based on the advantages and disadvantages of each of the following forms of businesses, give an…

A: A business is formed by the persons who want to start the business and as there are various methods…

Q: What advice will you give to someone who has limited capital but possesses all the necessary skills…

A: The first and foremost challenge a new entrepreneur face is deciding which type of business to…

Q: Which of the following is given as a means to search for unreported income or hidden assets: Group…

A: In accounting there is a branch called forensic accounting. It involves use of accounting knowledge…

Q: You’re in charge of accounting at a small company. Your boss stopped you in the hallway and asks you…

A: The answer for the given practical question is presented hereunder :

Q: ng on different forms of business organizations, which form of business would you organize once you…

A: The individuals who are self- motivated and are self-independent will always start their own firm.…

Q: Identify and explain the major factors in the social environment that create an atmosphere in which…

A: The social environment consists of beliefs, practices, behavior, and customs of society. In today's…

Q: The value of a business is determined by a. what a buyer with the cash is prepared to pay. b.…

A: Business of the owner can be valued by many methods. Generally need for valuation arises when there…

Q: What do entrepreneurs do that distinguishes them from any other person involved in the business?

A: A business is an enterprise entity or an organisation which is present to carry out a variety of…

Q: David is an accountant for a small company. As such, he participates primarily in _________…

A: Financial activities are related to money, flow of money and recording and managing money.…

Q: become entrepreneurs

A: An entrepreneur is a person having some new idea or way of doing a business. He is the one who is…

Q: How can an individual who is thinking of going into business evaluate the financial picture of the…

A: Introduction : Finance can be understood as the lifeblood of any business. Financial performance is…

Q: In which of the following business organization the owners could only lose the money they invested…

A: Answer: A corporation

Q: if you are a business owner, how can finantial analysis help you? (short explanation)

A: The financial analysis is process to evaluate business on the basis of finance related transactions…

Q: Which of the following is correct about business ideas and opportunity?

A: The first 3 subdivisions have been answered for you. Please resubmit the question specifying the…

Q: ny is artificial legal person. How does it achieve the status of artificial legal personality and…

A: The company can be defined as an organization which is set by the group of people to operate…

Q: What really is accountants, and how does it apply to the business world?

A: Introduction:- Accounting plays important role in every business because it helps you track income…

Q: Alyssa and Becky are suddenly successful candy makers and have been advised to organize their…

A: An individual or a group of individuals can organize a business organization by using different…

Q: David Lawyer, sets up a small loan company specializing in loans to business executives and small…

A: An ethical implication is used to consider the matter from an ethical point of view. It is often…

Q: t is creative accounting and how does it work? Provide three common techniques of creative…

A: Creative accounting is about accounting methods that follow the law but don't do what those laws and…

Question

if someone buys a business but hires professional managers to rub it so they dont have to be involved in the operations are they an entrepreneur?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

4. If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur?
What are the common barriers to entry that the entrepreneurs can experience in business operation?
What drives someone to start their own company?
what are the reasons why an individual venture into a business?
What do entrepreneurs do that distinguishes them from any other person involved in the business?
Advantage and disadvantage Owning your own business and working for someone else
Is the term “Financial Manager” a strict job title for a person within a business organization? Explain based on your understanding
Identify the reason why some individual is afraid to start a business. a. It is stress free b. It has high level of stress c. It is safe from loss d. It has less risk
how does prior knowledge in profit and loss helps you change your vision about running a business?
The owner of a company asks you if he can charge all his personal expenses to his business. He said that he owns the company anyway. Explain to the business owner the business entity assumption and the ethical considerations of his idea.
How can accounting consultants or auditors minimize the cost of doing business? How is this different from a manufacturing firm?
As a manager, would you use financial incentives to compensate your employees? If so, what would be the keys to using them effectively? If not, then how would you compensate your employees?