Teasha Pratt will graduate from high school next month and cannot decide what she wants to do.She had originally planned to go to college and major in marketing and accounting, but now she isthinking about opening her own business.Teasha has worked in a gift store for the last two years and gained a lot of experience and knowledgeby working with inventory, pricing, customers, and accounting. However, her real interest is in crafts.After conducting some marketing research, Teasha determines that there is a very small market for acraft store (there are currently two craft stores in town), but there is a larger market for a gift store.Teasha decides to open a small gift store in the mall with a loan from the local bank. After much hardwork, she locates two suppliers, Gifts Plus Wholesalers and Hearts Manufacturing Corporation, hiresemployees, buys display equipment, accounting equipment, a cash register, supplies, etc. Threemonths later, she is ready to open her store.Questions:1. List some capital resources Teasha needs to open her business.2. List some human resources Teasha needs to open her business.3. How does scarcity affect Teasha's business?4. What are some economic choices that Teasha had to make?5. What were the trade-offs and opportunity costs of one of Teasha's economic decisions?6. Based on the information given, do you think Teasha made the right economic choice inopening her own business? Explain.

In case of multiple subpart question first three subparts are solved. To start a new business, one…

Answered: Teasha Pratt will graduate from high…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 49P

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Shanice works in finance for a small manufacturing company and is working on next year’s budget. She has been doing research to compare the cost of outsourcing some upcoming jobs versus the cost of purchasing the equipment to keep the jobs in-house. In what step in financial planning is Shanice involved?
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After finishing Bachelor of Commerce, Miss Emma completed her Master of Computer Sciences(MCS) and started her career as a network engineer in XYZ Limited, Melbourne. She worked forsix months in XYZ Limited. Unfortunately, she was fired from the firm last year. Due to thecompetitive market conditions, she could not find any position as a network engineer.In 2018, she moved to Brisbane in search of a job. She was desperately working for the job whenone of her roommates informed her about a vacant position for the post of account payable clerkin the ABC Limited. Miss Emma was successful in her interview, and she joined the ABC Limited as Page 8 of 9an account payable clerk. However, she did not disclose her technology background. Early on,Miss Emma established a reputation as a hard-working, enthusiastic, and reliable employee. Sheoften works late and is dedicated to doing an excellent job. Her late-night presence in thecompany became a common occurrence that was at first appreciated by…

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