Business
False. You can be a Sole Proprietorship
How many well know Ethics Frameworks are there?
4
This is the term for a group of people identified as the most likely to buy a product or service. What is it?
Target Market
This document summarizes your work experience, skills, and education to apply for a job. What is it?
What is a resume
Career Programme
Name 3 of the 4 business types that we talked about.
Sole Proprietorship, Partnership, LLC, Corporation
Which of the ethics framework is defined as
"Following laws because they are part of the social contract that benefits everyone."
Social Contract Theory
The '4 Ps' of marketing include product, price, place, and this fourth element. What is it?
Promotion
This is the one-page document sent with your resume that explains why you're a good fit for the job. What is it?
Cover Letter
50
Pro:
Limited Liability:
Members are not personally liable for the company’s debts and liabilities.
Flexible Management:
LLCs can be managed by the members themselves or by appointed managers.
Pass-Through Taxation:
Profits and losses are passed through to the members' personal tax returns, avoiding double taxation
Con:
Complexity:
Not as complex as a corporation, forming an LLC requires more paperwork and legal requirements than a sole proprietorship or partnership.
Limited Life:
In some states, an LLC may dissolve if a member leaves or passes away, unless the operating agreement specifies otherwise.
Self-Employment Taxes:
Members may be subject to self-employment taxes on their share of the profits.
True or False: According to utilitarianism, it is always unethical to lie, even if the lie produces more overall happiness than telling the truth.
False. Utilitarianism focuses on maximizing overall happiness, so a lie could be considered ethical if it leads to a better outcome
This type of marketing uses social media influencers to promote a product to their followers. What is it?
Influencer Marketing
A cover letter should be addressed to this person whenever possible to make it more personal. Who is it?
The Hiring Manager
There are 4 types of service: indirect, direct, research and...? What is the 4th?
Advocacy
Who pays taxes in a partnership?
Like sole proprietorships, partnerships are not taxed separately; profits and losses are passed through to the partners' personal tax returns.
Name 2 of the 4 Ethics Frameworks
Utilitarianism, Dentology, Virtue Ethics, Social Contract Theory
What is it called when you make the same amount of money as you invest in a product?
Break Even Point
When writing a cover letter, whose address is listed?
Both the applicant and the recipient
What is the name of the paper that you will write senior year in PPS?
Reflective Project
Define "Double Taxation" as it relates to corporations.
Corporations are taxed on their profits, and shareholders are also taxed on dividends they receive.
This ethical framework argues that the greatest good for the greatest number should guide decision-making. What is it?
Utilitarianism
What is the difference between gross income and net income?
Gross is before any deductions such as cost or taxes.
False!
What are the IB testing requirements for CP?
2 tests, 3 or higher on each.