Akron Machining Institute Business Management Questions The assignment’s requirements are in the attachment below. Follow the instruction in the file below

Akron Machining Institute Business Management Questions The assignment’s requirements are in the attachment below. Follow the instruction in the file below and let me know if you want further explanation. Please use basic English vocabulary. #Question 1
A. One of the major reasons people who own small businesses form corporations
is to take advantage of limited liability. Write a paragraph (3-4 sentences)
explaining the concept of limited liability. Be sure in your explanation to
differentiate between limited liability and unlimited liability. B. In terms of
Options for Organizing Business, both advantages and disadvantages of the
partnership form of ownership. List and thoroughly explain EITHER three
advantages OR three disadvantages concerning the partnership form of
ownership.
REQ FOR Question 1
Options for Organizing Business
Limited vs. Unlimited Liability•Explain, discuss, understand
limited liability, the assetsof the business (the company)are separate from the assets of
the owners (the stockholders)
Corporation•
“a legal entity, created by the state, whose assets and liabilities are separate from its
owners”•
What are “assets” and “liabilities”•
Private vs. Public Corporation•
Stocks and Dividends (dividends vs. retained earnings)
Corporation
Advantages
•Limited Liability•Ease of Transfer of Ownership
•Perpetual Life
•External Sources of Funds
•Expansion Potentia
lDisadvantages
•Double Taxation
•Forming a Corporation
•Disclosure of Information
•Potential for Less Committed Employees
Partnership
•“any association of two or more persons who carry on as co-owners of a business for
profit”
•However, these partners have not created a corporation•General Partner vs. Limited
Partner; what’s the difference?
Partnership
Advantages
•Ease of Formation
•Availability of Capital and Credit
•Combined Knowledge and Skills
•Quick Decision Making
•Government Regulation (similar to sole proprietorship)
Disadvantages
•Unlimited Liability
•Business Responsibility
•Life of Partnership•Distribution of Profits
•Limited Sources of Funds
•Taxation (however, new tax law, discuss)
#Question 2
six Characteristics of High Performance Teams. A. First, simply list these six
characteristics? B. Which two of these characteristic are, from your perspective,
most important for a team to perform at a high level. Write a few sentences to
explain each of the two characteristics. Your answer should illustrate a thorough
understanding of the characteristic but also should put forth a thoughtful rationale
as to why this characteristic is so important? C. And finally concerning teams, you
watched a video discussing “Successful Work Teams at Google.” What were the
two characteristics of a successful work team at Google? Write a few sentences
for each as explanation?
REQ FOR Question 2
Characteristics of High Performance Teams
(In business, or in other aspects of life, as compared to groups, high performance teams
often:)
1
Have shared leadership roles
2
Have individual and group accountability
3
Create collective work products
4
Encourage open ended discussion and active problem solving meetings
5
Measure performance directly by assessing collective work products
6
Discuss, decide, and do real work together
Study on Successful Work Teams at Google

#Question 3
A. Simply list the three Functions of Money ? B. Concerning the Characteristics
of Money, let’s assume you’re traveling to a country that you’ve never been
before, that country is in remote South America, and businesses in that country
don’t allow you to pay with credit or debit cards, only local cash. Of the six
Characteristics of Money we discussed, which two would be most important to you
concerning this trip. Fully explain the rationale for your answer. C. During this
COVID-19 Pandemic, “The Fed” is the United States has been increasing the
money supply. In a few sentences, explain why.
REQ FOR Question 3
Money in the Financial System Functions of Money
–Medium of Exchange
–Measure of Value
–Store of Value
Money in the Financial System
•Characteristics of Money
–Acceptability
–Divisibility
–Portability
–Stability
–Durability
–Difficult to Counterfeit
#Question 4
A. What’s the definition of International Business ? B. Someone tells you that for
each of the last 20 years the U.S. has had a Balance of Trade surplus. Is this true?
Explain your answer and be sure to include specific data from 2018 as part of your
justification. C. Explain in a few sentences the message of the Wall Street Journal
article I shared with you concerning COVID-19 and Globalization.
REQ FOR Question 4
International Business: the buying, selling, and trading of goods and
services across national boundaries.
For each of the last 30 years, has the US imported more than exported OR exported
more than imported?
–2018 Imports: $3.1 Trillion ($3,100 Billion)
–2018 Exports: $2.5 Trillion ($2,500 Billion)
–2018 US Trade Deficit: $600 Billion How big is a trillion? So, how long would it
take to count to a trillion? 31 years!
The article COVID-19 and Globalization
https://www.wsj.com/articles/will-the-coronavirus-bringthe-end-of-globalization-dont-count-on-it-11584716305

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