Essay Available:
Pages:
1 pages/≈275 words
Sources:
1
Style:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.32
Topic:
Form of organization
Essay Instructions:
Presented below are five independent situations.
(a) Three physics professors at MIT have formed a business to improve the speed of information transfer over the internet for stock exchange transactions. Each has contributed an equal amount of cash and knowledge to the venture. Although their approach looks promising, they are concerned about the legal liabilities that their business might confront.
(b) Bob Colt, a college student looking for summer employment, opened a bait shop in a small shed at a local marina.
(c) Alma Ortiz and Jaime Falco each owned separate shoe manufacturing businesses. They have decided to combine their businesses. They expect that within the coming year they will need significant funds to expand their operations.
(d) Alice, Donna, and Sam recently graduated with marketing degrees. They have been friends since childhood. They have decided to start a consulting business focused on marketing sporting goods over the internet.
(e) Don Rolls has developed a low-cost GPS device that can be implanted into pets so that they can be easily located when lost. He would like to build a small manufacturing facility to make the devices and then sell them to veterinarians across the country. Don has no savings or personal assets. He wants to maintain control over the business.
For each situation, explain what form of organization the business is likely to take — sole proprietorship, partnership, or corporation. Explain why you chose this form of business.
Use this APA:
Kimmel, P. D., & Weygandt, J. J. (2019). Survey of Accounting (2nd ed.). Wiley Global Education US. https://purdueuniversityglobal(dot)vitalsource(dot)com/books/9781119591344
Im attaching the pages of the book where the information is, and above i just pasted the APA citation.
Do not copy and paste the 5 situations on the paper, you might write Situation A: and write the response.
Thank you so much. let me know if need more info.
Essay Sample Content Preview:
Form of Organization
Name
Institutional Affiliation
Course Name & Number
Professor
Due Date
Situation A
The business is likely to take the partnership form of organization. Three professors have come together to create a business aimed at meeting a particular need, bringing to the table equal expertise as physics professors. Also, they contributed equal amounts of money towards their venture (Kimmel &Weygandt, 2019, p.2). Their equal contribution of knowledge and finances makes this a form of partnership organization.
Situation B
Bob Colt’s bait shop will take a sole proprietorship form of organization. According to Kimmel and Weygandt (2019), this is because he solely opened the business with ease, and without him, it would not exist.
Situation C
Ortiz’s and Falco’s business...
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