Lesson 1: The Exit Stage Of A Business

Lesson 1 (3.0 points)
The Exit stage of a business is when a business owner gets out of their day-to-day commitment to running the company. 1. What is the Exit stage of a business? (0.5 points)
2. What does the human resources department of a company do? (0.5 points)
The human resources department handles things like employee hiring, firing, insurance and retirement benefits, payroll, and employee complaints. 3. What is information utility? (0.5 points)
Information utility is the value added to a product by providing the consumer with useful information.
4. List the six stages of a business. (1.5 points)
The six stages of a business is identity, plan, start, aerate, improve and, exit. Lesson 2 (3.0 points)
1. What is pass-through taxation? (0.5 points)…show more content…
2. What is an advantage of a sole proprietorship? (0.5 points)
An advantage is it’s easy to set up. A sole proprietorship is the simplest and least expensive type of business to set up or dissolve.
3. What is an S corporation? (0.5 points)
An S corporation is a corporation with special tax status. 4. What is franchising? (0.5 points)
Franchising is a way of turning a company into a parent company with smaller retail outlets owned by independent operators. 5. What can happen to a business owner who has personal liability for their company? (0.5 points)
A business owner who has personal liability for a company can be held personally accountable for the financial debts and illegal actions of the company. 6. What is an entity? (0.5 points)
Entity is a thing with distinct and independent existence. Lesson 3 (3.0 points)
1. Why does doing research help a company succeed? (0.5 points)
Doing research helps a company because a strong understanding of the market and the competition is important to a company's