Sean, a Sole Proprietor, Is Engaged in a Service Business

question 28

Essay

Sean, a sole proprietor, is engaged in a service business and uses the cash basis of accounting.In the current year, Sean incorporates his business by forming Aqua Corporation.In exchange for all of its stock, Aqua receives: assets (basis of $400,000 and fair market value of $2 million), trade accounts payable of $110,000, and loan due to a bank of $390,000.The proceeds from the bank loan were used by Sean to provide operating funds for the business.Aqua Corporation assumes all of the liabilities transferred to it.

Analyze the role of influence tactics in managerial effectiveness.

Recognize the concept of power in organizational relationships and its different sources.

Understand the basis and impact of leadership theories, including path-goal and behaviorism.

Differentiate between standard intelligence and emotional intelligence and their relevance to leadership.

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Definitions:

Domestic Work

Tasks and chores performed within the home, such as cooking, cleaning, and childcare, often without pay.

Myths

Widely held but false beliefs or ideas, often rooted in tradition or folklore.

Sexual Response

A physiological reaction to sexual stimulation.

Gay Rights

The fight for equality and legal rights for individuals who identify as homosexual, encompassing issues like marriage, adoption, and discrimination.