Basics of Business

Law and Ethics in the Business Environment

Good evening Amanda, It does seem that many people are heavily involved into what is the latest and greatest, and follow certain manufacturers in anticipation of a new item such as the iPhone. It’s much different than when I was young for sure. We had newspaper, Sears and J.C. Penney catalogs, and T.V. commercials. Somehow, we managed to survive with a lot les

BUSN100_Week_7_Discussion_Amanda.docx-Good evening Amanda, It does seem

Part 1 of 1 - 100.0/ 100.0 Points Question 1 of 10 10.0/ 10.0 Points In your own words explain, operaons management? Operaons management is the management of processes that transform inputs into goods and services that add value for the customer. Question 2 of 10 10.0/ 10.0 Points In your own words, what is Total Quality Management? Total Quality Managemen

BUSN100_Final.docx-Part 1 of 1 - 100.0/

Hi Chris As we continually witness the work force working holding off retirement, do you think it’s by choice? I see the retirement age people working longer to make ends meet, or to fill the gaps that teenagers used to work. I began working at 16 because it gave me a sense of independence, but many youths today do not share theses same feelings, and only begin wor

BUSN100_WK_5_Discussion_Chris.docx-Hi Chris As we continually witness

Business Growth In Four Stages 1 OVERVIEW 1. Startup 2. Growth 3. Maturity 4. Renewal or Decline Four Stages 2 Startup 3  Startup Stage can be an individual or multiple people  The owner(s) are responsible for:  Developing an effective business model  Market research  Determining competition  Promoting product, products or services to be sold  Transac

BUSN100_Week_3.pdf-Business Growth In Four Stages 1

 D.settlement Answer Key: B Question 7 of 20 5.0 Points The monetary damage award set out by the court is the amount the prevailing party is guaranteed to receive from the losing party.  A.True  B.False Answer Key: B Question 8 of 20 5.0 Points Examples of antitrust activities include all of the following except for:  A.price fixing  B.allocation of markets  C.standardization among trade association members  D.concerted refusal to deal Answer Key: C Question 9 of 20 5.0 Points The grant of a patent is a limited "monopoly" and can run counter to the antitrust principle encouraging free and open markets.  A.True  B.False Answer Key: A Question 10 of 20 5.0 Points All of the following are a type of contract except:  A.Express  B.Implied  C.Enduring  D.Unilateral Answer Key: C Question 11 of 20 5.0 Points Which of the following is not a form of business organization?  A.Limited Liability Corporation  B.Partnership  C.Sole Proprietorship  D.Corporation Answer Key: A Question 12 of 20 5.0 Points Identify the correct statement about liability in business organizations  A.A partner is not responsible for the debts of the partnership.  B.A sole proprietor is personally liable for all debts of the business.  C.A shareholder is responsible for the debts of the corporation.  D.A member is personally liable for the debts of the LLC. Answer Key: B Question 13 of 20 5.0 Points The revenue from a Chapter C corporations is taxed twice.  A.True  B.False Answer Key: A Question 14 of 20 5.0 Points The test for mental capacity to enter into a contract is whether the person has reached the age of majority  A.True  B.False Answer Key: B Question 15 of 20 5.0 Points A partnership must prepare an income tax return but the partnership pays no income taxes itself.  A.True  B.False Answer Key: A Question 16 of 20 10.0 Points According to the Missouri Bar Center, list three differences between a limited liability company and a corporation. Comment: No response Question 17 of 20 10.0 Points According to the Judicial Education Center, what are five defenses to a breach of contract claim. Provide examples of each. Enforcement of the contract would violate public policy. Example: A contract to lease part of a liquor license will not be enforced because splitting a liquor license between two parties and two locations violates the public policy of the state. See Digesu v. Weingardt, 91 N.M. 441, 575 P.2d 950 (1978). • Performance of the contract has become impossible or the purpose of the contract has become frustrated. Example: Dan hires Tom to paint his house, but the house burns down before the contract can be performed. • The contract is illegal.

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