Hap Owns and Operates a Small Business with Only Four

question 347

Multiple Choice

Hap owns and operates a small business with only four full-time employees and less than $500,000 in annual sales. He currently uses a manual accounting system and relies on a part-time bookkeeper to keep his records in order. In evaluating the possible adoption of a computerized accounting system, Hap will probably discover that:

• A) the expense of setting up a computerized accounting system would not be affordable at this time.
• B) he would be better off hiring a full-time accountant.
• C) he could benefit from adopting such a system, but should also consult with an accountant for advice about what's best.
• D) a computerized system would be affordable, but that he would have little need for it unless his company became significantly larger.

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Definitions:

Summary Judgment

is a legal decision made by a court without a full trial, granted when there is no dispute over the material facts of the case and one party is entitled to judgement as a matter of law.

Material Fact

Any fact that could influence a decision-maker's actions or decisions, especially in legal and financial contexts.

Voir Dire

A legal procedure during jury selection where prospective jurors are questioned about their qualifications to serve on a jury.

Jury Trial

A legal proceeding in which a jury made up of citizens decides the outcome of a lawsuit or criminal case.