Brothers Ronnie and Jacob Are Both in College; Ronnie Is

question 93

Multiple Choice

Brothers Ronnie and Jacob are both in college; Ronnie is a senior and Jacob a sophomore. They’re both majoring in business administration and want to open a small business a few years after graduation. They understand that it’s important to gain more management experience and build good credit ratings. Ronnie wants more security in his work and would be satisfied working with an older partner until he “learns the ropes.” More than Jacob, he’d prefer a business that’s been established for a few years. Although he likes a certain degree of independence, he’s willing to follow directions and take advice. Jacob, on the other hand, wants more freedom to make his own choices and to succeed or fail on his own merits. He’s quite creative and likes to set his own rules.
-If you were a business advisor,what would you probably recommend for Ronnie?

• A)Start a business from scratch.
• B)Buy an existing business.
• C)Buy a franchise.
• D)Go into business with his brother.

Examine the effects of an internal versus external locus of control on life outcomes.

Understand the relationship between self-management practices and health outcomes.

Explore the generational shift in locus of control and its implications on mental health.

Understand the significance of personal control perceptions in environmental and social contexts.

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Definitions:

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government.

Book Income

The income reported by a business based on the accounting rules of the firm, not necessarily reflecting the taxable income reported to the IRS.

Net Capital Loss

The result when the total capital losses from investments exceed the total capital gains.

Carried Forward

The process of taking unused tax credits or losses and applying them to offset tax liabilities in future periods.