Identify the main types of business entities

Assignment Help Operation Management

Reference no: EM131789096

Jeb and Josh are lifelong friends. Jeb is a wealthy wind - power tycoon, and Josh is an active outdoor enthusiast. They have decided to open a sporting goods store, Arcadia Sports, using Jeb’s considerable financial resources and Josh’s extensive knowledge of all things outdoors. In addition to selling sporting goods, the store will provide whitewater rafting, rock - climbing, and camping excursions. Jeb will not participate in the day - to - day operations of the store or in the excursions. Both Jeb and Josh have agreed to split the profits down the middle. On the first whitewater rafting excursion, a customer named Jane falls off the raft and suffers a severe concussion and permanent damage to her spine. Meanwhile, Jeb’s wind farms are shut down by government regulators, and he goes bankrupt, leaving extensive personal creditors looking to collect.

Identify the main types of business entities and discuss the advantages and disadvantages of each.

I have an understanding of the different type of business entities, what I would like some help on is what effect does (Janes) injuries and Jeb's windfarm issues have on the partnership?

Reference no: EM131789096

Questions Cloud

What strategies do you employ to stay on-task : What are the three most important elements of personal and professional etiquette that you employ in your professional life?

Prepare the journal entries to record the issue of the bonds : Prepare the journal entries to record the issue of the bonds on July 1, 2016, and the interest payments on December 31, 2016

Consumption increase or decrease of given period : Mandy has an income of $800 in period 1 and will have an income of $500 in period 2. Her utility function is U(c1, c2) = c0.80 c0.20.

Determine the division of income among the three members : Determine the division of income among the three members. If an amount box does not require an entry

Identify the main types of business entities : Identify the main types of business entities and discuss the advantages and disadvantages of each.

Draw the market supply and demand curves : Draw the market supply and demand curves. What are the efficient price and efficient quantity? Explain the Jaw of supply and the law of demand.

Discuss accounting and sec regulations : Discuss accounting and SEC regulations as a means to prevent financial reporting fraud. Your discussion should include research to support your opinions

Explaining the job characteristics : Many firms offer employees various "perks" for working for their firm. Often times these benefits are in the form of discounts at restaurants, movie theaters.

Strategic marketing recommendations for this business : Suggest two (2) strategic marketing recommendations for this business based upon your reflection/analysis

User Account

All Pages