Jeremy Is Thinking of Starting Up a Small Business Selling

question 199

Multiple Choice

Jeremy is thinking of starting up a small business selling NASCAR memorabilia.He is considering setting up his business as a sole proprietorship.What is one advantage to Jeremy of setting up his business as a sole proprietorship?

• A)As a sole proprietor, Jeremy would face limited liability.
• B)As a sole proprietor, Jeremy would have the ability to share risk with shareholders.
• C)As a sole proprietor, Jeremy would have both ownership and control over the business.
• D)All of the above would be advantages of setting up his business as a sole proprietorship.

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Definitions:

Conflicting Forces

Opposing factors or influences that create tension within a situation, process, or system, impeding progress or resolution.

Labour Demand

The total quantity of workers that employers are willing and able to hire at a given wage rate in a certain period.

Simulation

A method for modeling a real phenomenon with a set of mathematical formulas and algorithms to study its behavior under various scenarios.

Forecasting HR Demand

The process of estimating the future human resource requirement of an organization, based on its business strategy, objectives, and level of operational activity.