SCENARIO-BASED
Rock City is a community in the Midwest with a population of 23,000 people. Three dental clinics serve the city and the surrounding area. Perfect Smile is owned and operated by the newest dentist in town, Dr. Martin Harris, who employs one dental assistant and a secretary/receptionist. Drs. Joan Bennett and Joseph Young jointly operate Teeth for Life and provide a few more services than Dr. Harris. Rock City Dental Clinic has been in business for 58 years, employs 38 people, and offers a range of services that include dentures, orthodontics, and minor oral surgery.
-In deciding which legal form of business ownership to choose, these professionals must ask themselves all of the following questions except _____.
A) How much control do you want
B) Do you want to share profits with others
C) What are your financing needs
D) All of these are critical questions to ask.
Correct Answer:
Verified
Q2: Liability is a major issue in the
Q6: There are pros and cons for sole
Q9: Choosing the right form of business ownership
Q10: A very important consideration in picking a
Q15: No single form of ownership will give
Q16: If you're asking yourself whether you want
Q17: If you want to own the business
Q18: Scenario-Based
Rock City is a community in the
Q19: With enough employees and annual sales to
Q20: Sole proprietorship, partnership, and corporation are the
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