In 1984, Suzanne Pogell Wanted to Learn to Sail, but She

question 61

Multiple Choice

In 1984, Suzanne Pogell wanted to learn to sail, but she could find no one to teach her. She finally did convince someone to teach her to sail and, after mastering sailing, she started an all-woman sailing school called "Womanship" as a sole proprietorship. When she dies, which of the following will occur?

• A) The government takes over and sells the assets.
• B) The business dies with her.
• C) The business continues with the employees running it.
• D) The business can be continued by any blood relative.

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Definitions:

Financial Statement Forecasting

The process of projecting future financial outcomes by analyzing historical data and current trends.

Sales Forecast

An estimate of the quantity of goods or services a company believes it will sell in a specific period.

Budgeting Process

The budgeting process is a systematic approach to creating a financial plan for a defined period, detailing an organization's projected revenues, expenses, and cash flows.

Direct Labour

The workforce directly involved in the manufacturing process, whose wages are considered variable costs.