Mini-Case For as Long as She Could Remember, Jenna Raiter's Passion

question 213

Multiple Choice

Mini-Case
For as long as she could remember, Jenna Raiter's passion was cars. As a teenager, she spent hours with her dad tinkering with the family car, learning to change the oil and making minor repairs. She got a job at a local garage while still in high school. A few years after graduating from high school and completing the auto mechanics degree at a local community college, Jenna decided she wanted to be her own boss. She quit her job, borrowed some money from her dad, and began her own repair shop, the AutoMotion Garage. Jenna's hard work gradually attracted a loyal clientele of satisfied customers. Her success has her thinking about opening garages in two other locations, but she lacks the financial resources needed for expansion. Furthermore, the success of her business is forcing Jenna to spend more time managing the business and less time doing the actual technical work she still enjoys. She wants to find business partners who can help her with management and provide additional financial resources. She has approached a couple of friends she met in high school: Al Ternator and Lew Banfilter, to see if they would like to join the business.
-With all these choice, Jenna's head is swirling with ideas. She knows that Al and Lew have expertise in business and management, but she also knows that she will need to read on her own for more information. Referring back to a textbook she had in her Introduction to Business class in college, she comes upon the following statement:

• A) All forms of business ownership ultimately offer the same liability protection.
• B) An S corporation is a suitable form of business ownership for all businesses, while an LLC is limited to ownership by U.S. citizens.
• C) Even if you sell the rights to others to own a similar business, you still need to commit to a form of business ownership.
• D) The least risky form of business ownership is still the sole proprietorship, and that is precisely the reason that so many are formed each year.

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Definitions:

Anatomical Model

A scaled or full-size replica of a part of the human body, used for education, medical training, or patient explanation purposes.

Body Structure

The organization and arrangement of the physical components that make up a living organism.

Collective Societies

Societies characterized by a strong sense of interdependence and priority of group goals over individual goals, often emphasizing relationships and communal responsibility.

Egalitarian Societies

Societies characterized by equality, where rights and opportunities are equally distributed among all members, irrespective of their background.