Question: Section II Short Answer questions. (Total 40 points) (Note: Please show all necessary steps; otherwise you will only earn 50% of the total marks) Q1.

Section II Short Answer questions. (Total 40
Section II Short Answer questions. (Total 40 points) (Note: Please show all necessary steps; otherwise you will only earn 50% of the total marks) Q1. (1) Briefly describe a situation where you would want to use centralized decision making. Briefly describe a situation where decentralized decision making would be best? (3 points) (2) Compare and contrast what happens to a business when there are huge amount of business debts/losses incurred to affect the liabilities of owners of the business is a (a) Sole Proprietorship, (b) Partnership, (c) Corporation? (4 points)

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