Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Question
Chapter 5, Problem 3CT
Summary Introduction
To critically think about: The partner is required to start the business or not and skills needed in the partner.
Introduction:
Graphic designer is the one who communicates the ideas through visual concepts that inform, inspire and attract customers. Graphic designers develop the overall layout and production designs for the advertisements, magazines and corporate events.
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Students have asked these similar questions
Would you consider entering into a business partnership with your best friend? Why or why not?
If you are to create a company/business, what form of business will it be?
1. Setting Up a Business
Your friend, Olivia Graves, is going to start her own chocolate shop, called Chocolate-By-Design.
Olivia is an expert candy maker and one of the city's top pastry chefs. Olivia has come to you for
advice on what type of business Chocolate-By-Design should be-a sole proprietorship, partner-
ship, or corporation. Create a report comparing the three different types of businesses, along with
your recommendation for Chocolate-By-Design's business structure.
Chapter 5 Solutions
Understanding Business
Ch. 5.1 - Prob. 5.1AQCh. 5.1 - Prob. 5.1BQCh. 5.1 - Prob. 1TPCh. 5.1 - Prob. 2TPCh. 5.2 - Prob. 5.2AQCh. 5.2 - Prob. 1MEDCh. 5.2 - Prob. 3TPCh. 5.2 - Prob. 4TPCh. 5.3 - Prob. 5.3AQCh. 5.3 - Prob. 5.3BQ
Ch. 5.3 - Prob. 5TPCh. 5.3 - Prob. 6TPCh. 5.3 - Prob. 7TPCh. 5.3 - Prob. 8TPCh. 5.4 - Prob. 5.4AQCh. 5.5 - Prob. 5.5AQCh. 5.5 - Prob. 5.5BQCh. 5.5 - Prob. 5.5CQCh. 5.6 - Prob. 9TPCh. 5.6 - Prob. 10TPCh. 5.6 - Prob. 11TPCh. 5 - Prob. 1CTCh. 5 - Prob. 2CTCh. 5 - Prob. 3CTCh. 5 - Prob. 4CTCh. 5 - Prob. 1DWSCh. 5 - Prob. 2DWSCh. 5 - Prob. 3DWSCh. 5 - Prob. 4DWSCh. 5 - Prob. 5DWSCh. 5 - Prob. 1TITCh. 5 - Prob. 2TITCh. 5 - Prob. 1VCCh. 5 - Prob. 2VCCh. 5 - Prob. 3VC
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Similar questions
- In order to qualify as a partnership, how many participants must hold a partnership interest? Â (A) Two or more with an interest of more than 5%. (B) One partner with more than a 50% interest. (C) Two or more with any amount of interest. (D) Three or more.arrow_forwardIs a limited partnership more likely or less likely to have a partnership agreement than a general partnership?arrow_forwardIf you were going into the lodging segment, which type of property would you prefer to work at and why?arrow_forward
- V. How can companies encourage and support intrapreneurship, or employees who act as entrepreneurs within the organization?arrow_forwardJoin stock company preferable to a one man business.if you are agree or disagree,prove it with logical arguments?arrow_forward(1) Would you prefer going into a business with aseasoned professional you don’t know well or withsomeone you know, like, and trust but who doesn’thave a lot of business experience? Why? (2) What arethe three most important qualifications you would lookfor in a potential business partner?arrow_forward
- What financing options do small-business owners have? What risks do they face?arrow_forwardWhat is a partnership? Outline the legal issues involved in the formation of a partnership. In your answer, discuss the issues that partners should consider in drafting the partnership agreement.arrow_forwardIf you were to become a partner in a limited partnership, which would you prefer: being a general partner or being a limited partner? Explain your answer in 3 to 5 sentences only.arrow_forward
- What is joint stock company and what are its characteristics?arrow_forwardAssume that you and some of your classmates will form a partnership of some type for the sole purpose of investing in real estate. You meet at your favorite restaurant and draft an informal agreement that will be the starting point of your new entity. Write that agreement. What would be your role relative to your partners?arrow_forwardIn a group, discuss the following questions:a. What are the advantages and disadvantages of adding a partner versus hiring an employee?b. Assume that you have decided to form a partnership. What articles should be included in a partnership agreement?c. How would you go about finding a partner?arrow_forward
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