1. In your opinion, whose responsibility is it to initiate the payment of this debt? 2. What...

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1. In your opinion, whose responsibility is it to initiate the payment of this debt?
2. What if London is unable to come up with the money to pay the bill when (if) it is finally submitted/ What should he do then?
3. He should then contact the accounting department and establish a payment plan. What are the best options available to London in this case? Assess these using each of the following tests
(1) The Rotary Club’s four-question test
(2) The “newspaper report” test
(3) The “explain it to my mother” test
(4) The Golden Rule. Do you arrive at the same conclusion when applying each of these? If not, which one should London use to decide what he should do?

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Small Business Management Launching & Growing Entrepreneurial Ventures

ISBN: 978-1133947752

17th edition

Authors: Justin Longenecker, William Petty, Leslie Palich, Frank Hoy

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