In teams of three or four, interview owners of small businesses in your city or town. Ask them to explain why they chose their particular business organizational form.
Answer to relevant QuestionsUsing the Internet and search engines, investigate the tax rules relating to the organizational forms discussed in the chapter. Identify two advantages and two disadvantages of organizing as a partnership. List some examples of debts that are not discharged under a Chapter 7 bankruptcy. Discuss the major differences between the two basic kinds of commercial paper: promises to pay (notes) and orders to pay (checks and drafts). 1. McCutchon wrote a check payable to “cash” while he was in a supermarket. Before he got to the cashier, he realized that he had lost the check. Is this a bearer instrument, payable to any holder? 2. Poulakis sold a ...
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