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- Which of the following are things an entrepreneur should consider when selecting an organizational form: (select all that apply). a. The ability to raise capital b. The liability of the owners c. Tax considerations d. Ease of creationWhich of the following statements accurately describes U.S. CPA firms that are notsole proprietorships?(1) Most derive the majority of their revenues from tax services.(2) The most common organizational structure is the limited liability partnershipstructure.(3) The firm will be subject to an annual peer review.(4) The number of other professionals within a firm generally equals the number ofpartners in the firm.What can be defined as a corporation goal? A. Redirect all value the corporation created to a select group of investors B. Suppress lateral interaction between people C. Suppress lateral interactions between small companies. D. (c) only E. All the above
- Why is it important to set financial objectives? a. To overtake key competitors on such important measures as net profit margins and return on investment. b. Without adequate profitability and financial strength, the company's ultimate survival is jeopardized. c. To convince shareholders that top management is acting in their interests. d. To translate the company's business model into action items. e. To indicate to employees that financial objectives always take precedence over strategic objectives. Companies set strategic objectives: a. to achieve a company's strategic vision. b. because they are more difficult to achieve and harder to measure than financial objectives. c. to target outcomes that indicate a company is strengthening its market standing, competitive position, and future business prospects. d. to help managers track an organization's true progress better than financial objectives. e. to indicate to employees that strategic objectives always take…Why does a company needs financial objectives? A) to convince shareholders that top management is acting in their interests. B) because without adequate profitability and financial strength, the company's ultimate survival is jeopardized. C) to indicate to employees that financial objectives always take precedence over strategic objectives. D) to translate the company's business model into action items. E) to overtake key competitors on such important measures as net profit margins and return on investment.Which of the following is an advantage of a Corporation? a. None of the above b. Shared responsibility c. Ease of operation d. Ease of formation
- Which of the lists of positions below are in the same order as these definitions: Managers of the day-to-day operation of the corporation; owners of the corporation; set strategy and policy for the corporation. 1. Board of Directors; Shareholders; Officers 2. Shareholders; Board of Directors 3. Officers; Shareholders; Board of Directors 4. Officers; Board of Directors; ShareholdersLet's pretend you're starting your own accounting firm.Create a business name, as well as a vision, mission, goals, and objectives.It is easy to transfer ownership of shares of corporations from one person to another. Select one: True False
- 45-Who among the following are secondarily responsible for prevention and detection of frauds? O a. All the options b. Nomination committee is secondarily responsible for prevention and detection of fraud O C. Auditor is secondarily responsible for prevention and detection of fraud O d. Management is secondarily responsible for prevention and detection of fraudAfter discussion, the decision is to choose to operate as a C-Corporation. As a part of this organization, you all decide you want to set up an education reimbursement program. You have decided to categorize this under two groups: 1) continuing education and 2) reimbursement for tuition in pursuit towards a master’s degree. Provide discussion of the difference between how each will be taxed to the corporation and the employees under each case.Y9 A- Describe the relationship the board of directors needs with shareholders, management, the community, and employees, in order to sustain a company's success. Please provide the source (references). If you could do in text citation, that would be great. Thank you!
