GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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product versatility, financial needs, advertising strategies
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personal circumstances, financial needs, type of business
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product versatility, advertising strategies, personal circumstances
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personal circumstances, type of business, product mix
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Detailed explanation-1: -Personal circumstances, financial needs, and the type of business. Because each business owner’s situation is unique, the owner must consider the type of business being operated, the amount of capital needed to start the business, and the owner’s personal circumstances.
Detailed explanation-2: -Level of liability and personal risk The level of risk is associated with the activity and scale of business. Owners would want to protect their personal risk when associated risk is higher. The right business structure can surely reduce the personal risk of the owner.
Detailed explanation-3: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state statute.