Internal Analysis Enables a Firm to Determine What the Firm

question 18

Multiple Choice

Internal analysis enables a firm to determine what the firm:

• A) Can do
• B) Should do
• C) Will do
• D) Might do

Identify the tax implications and liability issues for various business forms.

Understand the creation, operation, and termination of franchises.

Recognize laws and acts governing partnerships, corporations, and limited liability companies.

Distinguish between the responsibilities and authority of individuals within different business organizations.

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Definitions:

Merchants

Individuals or entities engaged in the business of buying and selling goods for profit, often with expertise in the trade of specific types of goods.

Higher Standard

A level of quality or attainment that is above the ordinary or expected.

Nonmerchants

Individuals or entities that do not engage in buying, selling, or dealing in goods as their regular business activity.

Unconscionable Contract

An agreement that is so unfairly one-sided that it is deemed unenforceable under the law.