B&G, Inc. A Year Ago, Kevin Went to Work for B&G, Inc.He

question 124

Multiple Choice

B&G, Inc.
A year ago, Kevin went to work for B&G, Inc.He has worked for the finance department ever since he started.He noticed that the corporation was only taxed as though it were a partnership.This was something that he found very odd when he first started working for the company, but he later realized it was a fairly common practice.He recognized that this was one of the advantages of this type of corporation.
While the job was challenging, Kevin was not happy.He wanted to work for a company whose main goal was to provide service to the community, not to make a profit.However, Kevin felt that, considering his present financial situation, he had to continue working for B&G, Inc.A week later, Kevin discovered there was going to be a merger between B&G, Inc.and one of its major competitors.Kevin's boss informed him that he would be getting a promotion and a raise.While he was excited about making more money, he still was not happy.He knew then that he would not be working for the company for long.
-Refer to B&G, Inc.What type of corporation is B&G, Inc.?

• A) sole proprietorship
• B) partnership
• C) S-corporation
• D) not-for-profit corporation
• E) cooperative

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Definitions:

Psychological Contract

An implicit agreement between an employee and employer that outlines the informal obligations and expectations of their professional relationship.

Exchange Of Values

The process where parties engage in transactions or interactions, each offering something of value to the other, aiming for mutual benefit.

Personal Wellness

The practice of making choices towards a healthy and fulfilling life, encompassing physical, mental, and emotional well-being.

Fringe Benefit

Additional benefits supplementing an employee's salary, such as health insurance, paid vacations, or retirement plans.