Educational Research Methods Essay

1. What is the general purpose of a human subjects review? The general purpose of the human subjects review panel is to ensure that the rights, interests and the welfare of the human subjects are maintained during clinical research, and the clinical trials is conducted in an ethical manner compliant with standards established.   The review panel has the authority approve, amend or even reject any human research.   During the entire process of the clinical research, the review panel would be studying the manner in which the research is being conducted, and ensuring that the guidelines are stuck to.   Several regulatory authorities would be ensuring that the review board monitors the research being conducted on human subjects. The review board would be approving the research protocol outline and would also be creating the informed consent form.   During the meeting of the review board, the protocol would be studied, and accordingly it would be approved, disapproved or modified.   The review board would have to ensure that during any clinical trial, the risks to the human subjects are minimal, and certain benefits could be anticipated.   The benefits gained from the trial should be maximal and the risks involved should be minimal.   It would also look into other ethical issues such as confidentiality, informed consent and deceptive practices (USAF, 1999 & St. Edwards University, 2006). 2. What kinds of people within your organization would you ask to be on the review panel? Explain your reasons for choosing each person? The human subject research board is usually composed of a minimum of five members.   They should be professionally competent to examine research proposals and give consent for them on human subjects.   The members of the review board should be professionally qualified and should have sufficient experience so as to make appropriate decisions with regards to the human subjects.   The members of the board should belong to various backgrounds and should be familiar of the issues that exist in the community research is being conducted in.   The members of the board are usually elected for about 2 years.   Men and women should be a part of the board, so that female issues could also be appropriately addressed.   At least one member of the board should belong to a non-scientific background, and one member should belong to a scientific background (Monmouth, 2007 & St. Edwards University, 2006). 3. Give examples of projects within your organization that may require careful review before they are approved and of those that may be exempt from human studies review requirements. The institutional review board (IRB) of my organization would be examining any clinical research project that requires the use of human subjects, and in which some amount of risk exists.   The main aim of the IRB would be to assess the amount of risk that exists and also ensure that the trial is being conducted in an appropriate manner so that the risk is minimal.   Choosing the subjects should also be done in an equitable manner, and the IRB would be studying this.   The IRB would also be examining the provision of monetary and non-monetary incentives to the subjects who are a part of the clinical trial (HHS, 2005 & USAF, 1999). Some of the programs in which approval of the board is not required includes evaluations conducted by the student and teachers (for educational purposes), evaluation of the research program, marketing research, employee evaluations, certain educational tests, diagnostic tests, interview or survey procedures, compilation of existing data, etc (The University of Tennessee at Chattanooga, 2007)

Biography of Albert Dwight Paper

This person is my grandfather’s old buddy. His name is Albert John Dwight. He is born in Atlanta, Georgia on December 5, 1931. He is the only son of James Dwight and Adela Santos. He is half-American and half Brazilian. He grew up in his home in Atlanta with his mother. His father was a soldier. His father was recruited by his friend to join the US forces because of the Second World War. Many Americans join the Second World War and his father was one of them. His father was send to Cuba when he was nearly ten years old. This was why AJ (as his mother called him when he was a child) had missed his father so much.During his time, America was a simple place with simple dream. But it changed when the Second World War exploded. It was when the Pearl Harbor is being attacked. This was also the time that his father decided to leave his family. He didn’t know that this was also the last time with his father. Accidentally, his father died during one of the night raids. His mothe r almost dies when she heard the news. She thought that she can never raise AJ alone. The US government supported the family due to tragedy happened. AJ finishes his study along with my grandfather.He always told that he wanted to be a soldier even though it was the cause of death of his father. This is the attitude of most teenager, they usually idolized their father and wanted to be like them. He enjoyed his teenage years. He had many girlfriends in his time because he was built is beautiful. He was more energetic than ever. This was the peak of his life that everything he can do whatever he wanted to do. He was just like any normal teenager without dark past. He never recalled the death of his parents. He got married at the age of 26 to an American named Sarah Gainsborough at age of 23.Sarah is a very intelligent women and very gorgeous. They have one child named Edward. His dream of becoming a soldier vanished from his mind. He didn’t want to saw the same event that happe ned to his family. AJ thinks of his family first because as you grow up, the mind focuses on more important people than your dreams. His family became stable and financially supported because of the family business left by his mother. He witnessed the changes during his time and the time of his son. The government focuses what is good for its citizen unlike his days which gave a more focus on establishing a decent army which will fight for America.He also noticed that the kind of living had change. Several gadgets have been invented to life easier. Also he witnessed the launching of several spacecraft used to study the outer space. He thought that the time of his son was the new era of living but he proved it wrong when he reaches the age of 60 (approx). He witnessed the age computers. Big computers were made to do specific jobs. This machine can do three times as fast as any man can do. His son also married an American and they had 3 children. He loves his three grandchildren. It i s said that many grandparents loves their grandchildren than their child.He always told stories and he gave what ever his grandchildren wanted. He was fond of playing with his grandchildren. He sometimes took them to the park or to the mall. When they were in the mall, he can’t resist ongoing to gadget section because he can’t believed that that the things really existed. He was also amazed even in the nightlights of Las Vegas. He told that there are nightlights during his time but not like this that looked like fireworks. When year 2000 came, the age of computers, he became more fascinated on mobile phones because he saw its evolution from large one to phones with cameras until it becomes thinner and thinner.This is also the time his body is deteriorating and needed assistance in almost everything he wanted to do. He never wanted to learn to use those kind phones because of his age but his grandchildren insisted to teach him. As you grow older, you became happier with the things you want, unlike when you were a child that you want everything to become happy. Maybe this is part getting older. He also saw the evolution of government from his childhood. He saw it when it started recruiting soldiers and when the Second World War is over, the government became peaceful until it declared war with Afghanistan as a part of â€Å"anti-terrorism campaign†.The establishment of new weapons called super weapons that use nuclear power to bring destruction to its enemy. Also the government was creating advance vehicle made for combat not only for air but also for land and water. They also use satellite for military purposes which were used for mapping and to check weather during early times. Today, he doesn’t know if terrorism is over so that the government will be back to its peaceful state with no worries but the welfare of its citizen. Reference JRJR (2001). Second World War. Retrieved 25 October 2007 from http://www. worldwar-two. net/acontec imentos/130/

Causes of the French Revolution Essay

An illustration of this is in document figure 11 which has both —– and —– factors from a societal scientific discipline position. This papers shows the members of the national assembly who decided to take a base and vowed to non divide until they made a fundamental law subsequently known as the â€Å"Tennis Court Oath† . This papers truly shows the continuity the people of France had to do life every bit just for both the royals. provincials and everyone in between. As you now know there are many factors that led up to the Gallic Revolution and one of the biggest causes was economic crisis. While the royal household was happy holding banquets the people of France were hungering and many could hardly afford the monetary value of a four pool loaf of staff of life. In document figure 15 it shows how the monetary value of staff of life skyrocketed in merely a year’s clip and how much of a person’s income was spent on staff of life. Not merely was the monetary value hideous but it was the chief component in their diet so they could non travel without it. This papers is a secondary beginning and it shows both political and economic positions in a societal scientific discipline position. Another illustration of economic confusion is in document figure 10. In this papers it shows the fiscal jobs in France during 1789. The economic system was so unhealthy that non merely were the urban common mans in debt the male monarch besides was. When adding up the monetary value of nutrient. rent. tithe. revenue enhancements. and dressing it put the common mans at an amazing 170 % entire. and although it was a lesser sum the male monarch was besides in debt by a humongous 60 % . This papers has both political and economic points and even though it is a secondary beginning it truly makes you believe about how difficult it must hold been for the people to merely last. Throughout history there have been many people who wanted power. to be a leader and stand over others and demo that they are of a greater category. And to the people king Louis XVI and Marie Antoinette were seeking to demo their laterality. Political positions have ever been a large portion of society and they were besides a immense subscriber to the start of the Gallic Revolution. Document figure one has a picture for both King Louis XVI and Marie Antoinette which clearly shows that they are rich and powerful. As you look at Marie in this image you can see that she had no job paying a monetary value to look beautiful and Louis closet indicates that he has large luxuries and they love to demo it. This papers is a primary beginning and has political. economic. and cultural positions. Another great illustration for a political cause is document figure three. This papers non merely has a political position it besides shows economic. cultural. and psychologically positions in a primary beginning. It talks about the adversities a adult female and her hubby are confronting seeking to run into the demands of the royals. the papers states â€Å"The revenue enhancements and feudal dues are oppressing us. † What sent many people over the border was non being treated reasonably until they eventually snapped.

Law Enforcement Technology Essay Example | Topics and Well Written Essays - 750 words

Law Enforcement Technology - Essay Example The information technology and electronic gadgets have significantly impacted the performance of policing in states and helped enforce law and order. Chan (2001) asserts that information is stock-in-trade of policing which considerably influences enforcement of law. The ready access to information, especially criminal records becomes vital ingredient in investigating and preventing crimes. The various agencies, including police use sophisticated gadgets to coordinate and track crimes and criminals. Computer based crime mapping has revolutionized policing. GIS or geographical information system facilitates and help create pattern of crime within the defined geographical location so that spatial trend in crime is easily identified. It helps to manipulate and display geographical knowledge in new and exciting ways (Cowen 2001, p. 3). GPS or global positioning system is another important technology that is used for direction and identifying route maps to locate crime or track criminals or suspects. Chicago police was the first to use technology to collaborate with community and enhance mechanisms of controlling crimes. It introduced CAPS or Chicago Alternative police Strategy to solve neighborhood problems. ICAM or Information Collecting for Automated Mapping is its key tool that has 90 days relevant data related to crime hot spots including maps, graphs and details of reported crimes (Skogan & Hartnett, 1996). It is updated and accessible to community for transparent community policing. This has been adopted by other states to improve policing and reducing crime. Real time Computer Aided Detection System is another important tool that helps monitor illegal entry of cross border immigration, drug trafficking etc. Indeed, the geo-mapping helps to analyze and create linkages and patterns of crime for determining the potential risk factors and identification of

Construction Safety Assignment Example | Topics and Well Written Essays - 250 words - 12

Construction Safety - Assignment Example There is need therefore to have a way of applying these in such a large project with many contractors. All contractors need to come together and establish compliance standards that revolve around waste management, hazards avoidance measures, spill management and cleanups etc. Contractors are supposed to ensure monitoring is done as routinely as possible (Chen and Li, 2006). This ensures that the standards are being followed: this can be through a neutral Site Inspector. Workers need to be trained together on the environmental safety and ISO standards to be upheld at the site. The contractors need to demand to know the construction safety record of fellow contractors so as to ensure that safety of their workers is not to be compromised. This way, only competent contractors are to be contracted. Contractors need to ensure that their individual employees are well qualified to offer the highest possible service in regards to environmental safety. Lastly but not the least is the need to have a regular evaluation process in place for all contractors to be evaluated on

Social science research Assignment Example | Topics and Well Written Essays - 2000 words - 1

Social science research - Assignment Example However, it has been seen that quantitative techniques are more preferred because of its scientific and logical approach. In order to explore the merits and demerits of quantitative and qualitative research forms, it becomes essential to under the primary difference in both the forms. Questionnaires are considered as a technique of quantitative research while observations and interviews are considered to be qualitative research techniques. However, there are alternatives to the above view. Sometimes interviews may be structured in such a way that it has ample scope of quantitative research. Interviews can help in collecting numeric data or answers may be coded in numerical. Likewise, surveys may have scope for responses that are open-ended in nature and thus, allow for comprehensive analysis. Qualitative and Quantitative techniques are significantly related with subjectivity and objectivity respectively. Therefore, several points have to be considered by a researcher before selecting a research technique. The researcher should understand that the selection of the appropriate technique depends on the objectives of the research (Punch, 2013). Qualitative research involves detailed and complete descriptions of any event. The data collected with the help of qualitative techniques help in the process of product design as it provides valuable insights related to needs of the user and behavioural patterns. Quantitative studies generally help to identify the characteristics or qualities of the object of research. The outcomes from the qualitative techniques cannot be encoded numerically (Berg & Lune, 2004). There are various advantages of qualitative research which makes it valuable for research practices. The strength of this technique proves helpful during various critical research analyses. The research methodology is not predefined. Qualitative research techniques

Depreciation Schedule Research Paper Example | Topics and Well Written Essays - 500 words

Depreciation Schedule - Research Paper Example The accumulated depreciation is arrived at by adding the current year's depreciation and the all the prior years' depreciation. The book value is arrived at by the formula: cost less accumulated depreciation. The accumulated depreciation figures are $300 for year 1, $600 for year 2, $900 for year 3 and $1,200 for year 4. The book value figures are : $ 900 for year 1, $600 for year 2, $ 300 for year 3, and $0 for year 4(Smith, 2004). The above excel computation shows that depreciation expense for year 1 is $4,800. Under the double declining balance method, the straight line depreciation rate is first computed by dividing 1 by the 5 year life of the asset. The result is 20%. This is then doubled to get 40%. Next, the first year depreciation is arrived at by multiplying the cost of $12,000 by 40% to arrive at the first year's depreciation of $4,800. Then the second year's depreciation is arrived at by multiplying 40% by the prior year's book value of $7,200 to arrive at $2,880. This is the second year's depreciation. On the third year, the book value of $4,320 is deducted the scrap or salvage value of $3,000 to arrive at the third year's depreciation. The third year's depreciation is $1,320. The book value figures are : $7,200 for the first year, $4,320 for the second year, and finally $3,000 on the third year (Hall & Aldridge, 2007).

Internship Report Assignment Example | Topics and Well Written Essays - 2000 words

Internship Report - Assignment Example It facilitated me to gain valuable insights about me, my community and various aspects related with the community in the most positive and effective way: Communication and Team work: The exposure to the real situation familiarized me in enhancing my communication capability and it also facilitated in increasing my competencies of working within the team as a team member. Problem Solving: The community internship enabled me to understand all the community associated needs and facilitated me to transform community actions by working together based on the knowledge, strengths and capabilities of the individual involved in the voluntary service. In relation to my learning and growth through the involvement in the community internship, the learning material consisting of lectures have facilitated in answering many of the questions such as why I was engaged in the community internship and what degree of insights and knowledge are required by me to effectively perform the requisite tasks of internship. It also facilitated me to make valuable judgment regarding my personal and professional capabilities. Before the inception of this course, I was apprehensive but every staff in Red Cross supported me and made me feel at ease and facilitated me to easily acquaint with it. The module 3 and module 4 significantly aided me rigorous understanding of the community and its various aspects. I also created a poster which reveals the mission statement of Red Cross service as well as the poster depicts the purposes of the activities that they are engaged in. The poster depicts the pictures that familiarize with stressful life of disabled people as well. My engagement in the community internship delivered me valuable insights about the changing community environment. While dealing with the changing community environment, it required me to be flexible enough to consider

Q Thesis Example | Topics and Well Written Essays - 1250 words

Q - Thesis Example This can be because agility is still new in the world of manufacturing. Nevertheless, it has existed since the 1980s (Garbie, Parsaei, and Leep 2) and has been practiced by manufacturing firms. Agile manufacturing system is similar to value management in the context of concept and purpose. Agile focuses on decreasing time, achieving customer’s satisfaction through fast and quick delivery of products and services, and minimizing surplus inventory. Businesses and organizations of the age of globalization employ many strategies to improve their agility level. Improving organizational strategies, business concepts and innovations, value management and value engineering in construction, are just a few of these innovations. Value management addresses problems which are still unknown but can be addressed to properly when the time comes. It is being conducted by a value management team composed of the stakeholders of the project who use materials and procedures that would provide optimum benefits. All stakeholders have to work together as a team to enforce the necessary measures to minimize unnecessary cost and optimize value for the project. Petroleum companies need innovations as the industry is labor-intensive and requires a great amount of capital in running the business. Reducing operating costs is one of the strategies of petroleum companies. In the corporate world, they have almost the same concept of agility, which is cutting costs and then lowering the operating expenses, and adding the saved money to expenses for the sales force and research and development, or for other important activities in the business. (Graham, Ware, and Williamson 31) Humans create knowledge in social interactions. Petroleum companies create knowledge structures, places and mechanisms for the creation of knowledge, whether this is through the interaction of employees and

Music assignments Assignment Example | Topics and Well Written Essays - 500 words - 1

Music assignments - Assignment Example By rigid vocal orchestration it is meant the seconds and thirds are 3rd (Me i.e., 3rd note from the root note) and 5th (So i.e., 5th note from the root note) derivatives. Instead the vocal harmony is created by the creative blending of different note progressions altogether. This kind of vocal symphony is more predominant in instrumental presentations for example a violin line playing on the background while a main instrument or voice is reciting the main composition. This secular motet is in many ways different from the sacred chants that we have listened to in the past. It has a polyphonic texture and also a varying duple, triple meter. Rather it doesn’t strictly follow a particular meter just sticking to a metronome rather. It has complex harmony sections giving rise to minor 7ths and minor augmented chords. It is also rich in melody and has a shifting root note, which means that not one root chord or root note can be identified, that stays as the reference throughout the song. It is less structured and more melodic having complex phrases, grace notes and touch notes. It easily falls under the category of sacred choir music rather than periodic and rhythmic chanting. The timbre is also quite different through the synthesis of multiple voices forming the instrumental base and giving the composition a reverberating and continuously flowing tonal background. The composition also has chromatic note progressions and chromatic tonic change of chords. Berlioz’s Symphonie Fantastique is a Symphony Concerto involving the narration of a story musically through the drama and conversation of instruments created by different notes. Climax is brought out through the high pitched and rhythmic progressions of violins. The quick succession of notes or straight-through notes brings the effect of a drama and a peak of emotion. Smetana’s The Moldau on the other hand is a Symphonic Poem meant for

Global Transport Providers Essay Example for Free

Global Transport Providers Essay The ocean carriers transport providers have introduced the Advanced Transport Communications System (ATCS). The trucker uses a GPS enabled cell-phone to enter information about the truck which is then received in the carriers and shippers systems of tracking. They report when they pick up and deliver the cargo using the first and last mile to track the cargo. This form of tracking has been introduced by the Port of Oakland, the Bay Area World Trade Centre and a group of technology partners and it reduces traffic congestion, air pollution and saves on time. However, one realizes that the rest of the journey is not tracked as only the first and last mile of the journey are reported. The cargo therefore can get lost on its way to the destination point. The freight forwarders provide a tracking system that allows the importer to place orders through the web. There is use of Pangaea which is a system that automates the process. It connects the freight forwarders, importers, exporters and the custom brokers through the web. It informs them on the progress made by the cargo through the forwarders offices placed all over the world. There is also the added advantage of line/part tracking feature offered by Pangaea which allows one to re-order, approximate position and also the arrival date of cargo, contents of the containers and retrieval of line item detail (http://www. pangaeaworld. com/product-linepartaspx). It also has the ability to operate at a multi-national level using multi-lingual employees in their offices. This then opens up the market where they would operate their businesses and those of the customers. The Marine Association of the Port of New York/New Jersey started the testing of the Automated Secure Vessel Tracking System(ASVT)in 2002. this system was developed by the Secure Assets Reporting Services (SARS) of Bellevue Washington. By using this tracking system, the parties involved will be able to locate their vessels worldwide on both ocean transit and on inland waterways.. The information on location and movement of the cargo carrying ship is available by the use of an encrypted password on the internet. The Secured Assets Reporting Services uses multiple satellite sources thus increase the ability of tracing the cargo at sea. The information can also be shared with the state and federal Homeland Security agencies thus increasing the ability to trace cargo when on transit and reduce chances of its getting lost. Advantages and disadvantages When using ocean carriers, there are various advantages and disadvantages. When used efficiently, there is reduction of cot as it carries more cargo thus more is under surveillance at a go. By using cell-phones to track cargo it makes it easier as anyone can do so from any part of the world. The major disadvantage of this system is the fact that it only checks when the cargo is picked up or delivered. It does not extend to when the cargo is on transit. Also it is specific phone brands that can be used for this tracking system. The major advantage of the freight is that it is available over the internet. It also keeps the parties involved informed of position of the cargo as this is done via internet. It is also operated at multinational level with offices in all market locations. The major disadvantage of freight forwarders is that it is very costly due to long distance shipping thus limiting ability of a small scale establishment to operate internationally. It also makes the tracking of the cargo expensive as it is done over a longer distance. The other major disadvantage is tat it does not cover the journey if one is not connected to the web. The port tracking system is designed to track the cargo on transit while revealing this information to a specific person only thus increasing security of who gets the information. The cargo is also tracked at sea by use of satellite whereby by using multiple satellite sources, the information is constantly available. The disadvantages are the requirements to have a computer system and ability to use it also a lot of manpower is needed to run the system. Recommendations Based on the research done and the information gotten, the best company for DD is the port tracking system. The rationale behind this conclusion is because the port tracking system has a way of tracking the cargo even at sea. This enables one to know at which point a specific cargo is. Also the fact that there are multiple satellite sources ensures that breakdown of one does not lead to loss of cargo. Each satellite source confirms the others information and nay anomaly is quickly noticed. By giving a password that is used to get the information from the internet means that information is not tampered with. It also ensures that only the relevant authority gets the information. By getting the information on exact position it means one can be able to conduct their sales with more precision. This is because delivery date is predictable on approximation. Finally, the disadvantages faced are also to be found in the other systems. The man power required is same as in the other systems and use of computers is also to be found in the freight forwarders while being substituted by cell phones in ocean carriers systems. Reference: Buxbaum P. A, 2007. Port Equipment and Technology – Tracking Last Mile Data. http://www. bawtc. com/tradenews-details-asp? partnerID=ArticleID=13317

Grading Summary Essay Example for Free

Grading Summary Essay Question 1. Question : (TCO A) The Financial Accounting Standards Board employs a due process system, which: has all CPAs in the United States vote on a new statement. enables interested parties to express their views on issues under consideration. identifies the accounting issues that are the most important. requires that all accountants receive a copy of financial standards. Points Received: 5 of 5 Question 2. Question : (TCO A) The cash method of accounting  is used by most publicly traded corporations for financial statement purposes. is not in accordance with the matching principle for most publicly traded corporations. often is used on the income statement by large, publicly held companies. All of the above Question 3. Question : (TCO A) Which of the following is an ingredient of relevance? Verifiability Completeness Neutrality Predictive value Question 4. Question : (TCO A) The characteristic that is demonstrated when a high degree of consensus can be secured among independent measurers using the same measurement methods is relevance. reliability. verifiability. neutrality. Question 5. Question : (TCO A) Which of the following is not a basic element of financial statements? Assets Balance sheet Losses Revenues Question 6. Question : (TCO A) Which basic element of financial statements arises from peripheral or incidental transactions? Assets Liabilities Gains Expenses Question 7. Question : (TCO A) Which basic assumption may not be followed when a firm in bankruptcy reports financial results? Economic entity assumption Going concern assumption Periodicity assumption Monetary unit assumption Question 8. Question : (TCO D) Balance sheet information is useful for all of the following except to compute rates of return. analyze cash inflows and outflows for the period. evaluate capital structure. assess future cash flows. Question 9. Question : (TCO D) The amount of time that is expected to elapse until an asset is realized or otherwise converted into cash is referred to as solvency. financial flexibility. liquidity. exchangeability. Question 10. Question : (TCO A) The quality of information that gives assurance that is reasonably free of error and bias and is complete is relevance. faithful representation. verifiability. neutrality. Question 1. Question : (TCO D) The basis for classifying assets as current or noncurrent is conversion to cash within the accounting cycle or one year, whichever is shorter. the operating cycle or one year, whichever is longer. the accounting cycle or one year, whichever is longer. the operating cycle or one year, whichever is shorter. Question 2. Question : (TCO A) What is FASB Codification? Explain in detail. Instructor Explanation: The codification takes the statements and other pronouncements and arranges the information by topic. Per the FASB, the new system will 1. reduce the amount of time and effort required to solve an accounting research issue; 2. mitigate the risk of noncompliance with standards through improved usability of the literature; 3. provide accurate information with real-time updates as new standards are released; and 4. assist the FASB with the research and convergence efforts required during the standard-setting process. Question 3. Question : (TCO C) At Ruth Company, events and transactions during 2010 included the following. The tax rate for all items is 30%. (1) Depreciation for 2008 was found to be understated by $30,000. (2) A strike by the employees of a supplier resulted in a loss of $25,000. (3) The inventory at December 31, 2008 was overstated by $40,000. (4) A flood destroyed a building that had a book value of $500,000. Floods are very uncommon in that area. What would the effect of these events and transactions on 2010 income from continuing operations net of tax be? Instructor Explanation: $25,000 $7,500 = $17,500 Question 4. Question : (TCO C) For the year ended December 31, 2010, Transformers Inc. reported the following. Net income $60,000 Preferred dividends declared $10,000 Common dividend declared $2,000 Unrealized holding loss, net of tax $1,000 Retained earnings, beginning balance $80,000 Common stock sold during the year Retained earnings, beginning balance $80,000 Common stock $40,000 Accumulated Other Comprehensive Income, Beginning Balance $5,000 What would Transformers report as the ending balance of retained earnings? Instructor Explanation: $80,000 + $60,000 $10,000 $2,000 = $128,000 Question 5. Question : (TCO C) Madsen Company reported the following information for 2010. Sales revenue $510,000 Cost of goods sold $350,000 Operating expenses $55,000 Unrealized holding gain on available-for-sale securities $40,000 Cash dividends received on the securities $2,000 For 2010, what would Madsen report as other comprehensive income? Instructor Explanation: Other comprehensive income = $40,000 Question 6. Question : (TCO B) Allowance for doubtful accounts on 1/1/10 was $50,000. The balance in the allowance account on 12/31/10 after making the annual adjusting entry was $65,000, and during 2010, bad debts written off amounted to $40,000. You are to provide the missing adjusting entry. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment. Instructor Explanation: DR Bad Debt Expense 55,000 CR Allowance for Doubtful Accounts 55,000 Ending balance $65,000 Beginning balance 50,000 Difference 15,000 Written off 40,000 Adjustment $55,000 Question 7. Question : (TCO B) Allowance for doubtful accounts on 1/1/10 was $75,000. The balance in the allowance account on 12/31/10 after making the annual adjusting entry was $60,000, and during 2010, bad debts written off amounted to $30,000. You are to provide the missing adjusting entry. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment. Instructor Explanation: DR Bad Debt Expense 15,000 CR Allowance for Doubtful Accounts 15,000 Ending balance $60,000 Beginning balance 75,000 Difference -15000 Written off 30000 Adjustment $15,000 Question 8. Question : (TCO B) Allowance for doubtful accounts on 1/1/10 was $60,000. The balance in the allowance account on 12/31/10 after making the annual adjusting entry was $55,000, and during 2010, bad debts written off amounted to $40,000. You are to provide the missing adjusting entry. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment. Instructor Explanation: 12/31/10 Ending Balance 55,000 1/1/10 Beginning Balance 60,000 Adjustment -5,000 Written off 40,000 Adjusting entry 35,000 DR Bad Debts Expense, 35,000 CR Allowance for Doubtful Accounts, 35,000 Question 9. Question : (TCO B) Prepaid rent at 1/1/10 was $30,000. During 2010, rent payments of $120,000 were made and charged to rent expense. The 2010 income statement shows as a general expense the item rent expense in the amount of $125,000. You are to prepare the missing adjusting entry that must have been made, assuming reversing entries are not made. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment Instructor Explanation: DR Rent Expense 5,000 CR Prepaid Rent 5,000 Rent expense $125,000 Less cash paid 120,000 Reduction in prepaid rent $5,000 Question 10. Question : (TCO D) Which of the following should be reported for capital stock? The shares authorized The shares issued The shares outstanding All of the above Question 11. Question : (TCO D) An example of an item that is not an element of working capital is accrued interest on notes receivable. goodwill. goods in process. temporary investments. Question 12. Question : (TCO A) Financial information exhibits the characteristic of consistency when expenses are reported as charges against revenue in the period in which they are paid. accounting entities give accountable events the same accounting  treatment from period to period. extraordinary gains and losses are not included on the income statement. accounting procedures are adopted which give a consistent rate of net income Question 13. Question : (TCO D) The current assets section of the balance sheet should include machinery. patents. goodwill. inventory. Question 14. Question : (TCO D) Houghton Company has the following items: common stock, $720,000; treasury stock, $85,000; deferred taxes, $100,000, and retained earnings, $313,000. What total amount should Houghton Company report as stockholders equity? $848,000 $948,000 $1,048,000 $1,118,000 Instructor Explanation: General Feedback: b. $720,000 $85,000 + $313,000 = $948,000.

Development Of Honorifics Within Cultures Cultural Studies Essay

Development Of Honorifics Within Cultures Cultural Studies Essay How does social hierarchy affect linguistic politeness and the development of honorifics within cultures. Japanese, Chinese English will be examined. Politeness is a cultural phenomenon. What is considered polite in one culture can be quite rude or just simply strange in another. An honorific on the other hand is a word, title or expression, which conveys politeness under certain cultural norms when addressing or referring to another person (Brown, 1987). In languages such as Chinese, honorifics operate under a self-denigration Maxim where one either elevates the other partys status and therefore conveying esteem or respect, and/or denigrating the self and thus elevating the relative status of a second or third person (Gu, 1990). To do otherwise is seen as being arrogant boasting, or self-conceited. In some languages such as Japanese, honorifics are also often used together with varying systems of honorific speech, which are grammatical or morphological ways of encoding the relative social status of speakers (Haugh et. al., 2003). Agha (1994) goes on to suggest individuals who use more honorifics are further educated and mature, a nd therefore, of higher social status. Thus it can be hypothesized that politeness is intrinsically intertwined with the speakers cultural understanding and subsequent social status. This paper will explore how social hierarchy affects politeness through the changing use of honorifics. Chinese, Japanese and English will be examined to gain a wider understanding of this phenomenon. The closest Chinese translation of politeness is à §Ã‚ ¤Ã‚ ¼ à ¨Ã‚ ²Ã…’, meaning polite appearance. à §Ã‚ ¤Ã‚ ¼ à ¨Ã‚ ²Ã…’ is derived from the archaic Chinese wordà §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ®. To have a better understanding of the modern conception of à §Ã‚ ¤Ã‚ ¼ à ¨Ã‚ ²Ã…’, it may be helpful to review the classical notion of à §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ® formulated by Confucius. Confucius lived at a time when there was constant war between feudal states, partly due to a rapidly deteriorating slavery system. The former aristocratic social hierarchy was shattered, and chaos practically reigned over the land. One of the measures Confucius advocated towards stability was to restore à §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ®. This à §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ® does not mean politeness; it refers to the social hierarchy and order of the slavery system of the Zhou Dynasty, which was regarded by Confucius as an ideal model of any society. In order to restore à §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ® it is necessary to à ¦Ã‚ ­  £Ãƒ ¥Ã‚ Ã‚  i.e. rectify names. To à ¦Ã‚ ­Ã‚ £Ãƒ ¥Ã‚ Ã‚  is to put each individual in his/her place in the web of relationships that create community, and behaving accordingly to his/her social position so as to ensure social harmony (Taylor, 2003; Warren, 1980). This is important because: if ming is not properly rectified, speech cannot be used appropriately; if speech is not used appropriately, nothing can be achieved; if nothing is achieved, li cannot be restored: if li is not restored, law and justice cannot be exercised: and if law and justice are not exercised, people will not know how to behave. (Confucius, zilu , quoted by Yang (1987)) Thus speech had to be used appropriately in accordance with the users status in the social hierarchy so thatà §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ®could be restored. For instance, a servant was required to call himself or herself à ¥Ã‚ ¥Ã‚ ´Ãƒ ¦Ã¢â‚¬ °Ã‚  (slave), while addressing his/her master as à ¥Ã‚ ¤Ãƒ ¤Ã‚ ºÃ‚ º (great man) or à ¤Ã‚ ¸Ã‚ »Ãƒ ¥Ã‚ ­Ã‚  (master). Deviation from this usage, in Confucius view, would disrupt the established social order, hence creating social chaos. An inferiors violation of this usage, at that time, would have been considered as being à §Ã…  Ã‚ ¯Ãƒ ¤Ã‚ ¸Ã…   (offending the superior). This was a serious breach of à §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ®which could result in the severe punishment of the offender (Gu, 1990). Since the founding of the Peoples Republic in 1949, the feudal system, which has overseen China for over 5000 years, was abolished. A new order of social structure, the communist system was adapted where ideologically, everyone is an equal. Politeness and its role in this new way of life among the people were drastically changed as the pre-existing social hierarchy was viciously torn down. Consequently, many classical terms, which sounded either too denigrative or elevative in the contemporary political atmosphere, became obsolete. Examples of classical and contemporary denigrating and elevating honorifics from Gu (1990) include (Attachment 1) After the communist revolution, honorifics are only used for formal or volatile circumstances. Extreme honorifics such as the ones mentioned above are saved for TV shows and situations of extreme emphasis. A prime example of modern use of the self-denigration maxim is extracted from Gu (1990) below. (Attachment 2) Gu (1990) explains as thus: When M refers to Ss surname [I], he elevates it as precious surname, whereas in mentioning his own surname [4], he denigrates it by calling it worthless surname. S, on his part, though he does not denigrate his surname in response to As enquiry [2], denigrates instead himself as little brother (implicating that he is inferior to M). In his enquiry about Ms surname, on the other hand, S exhilarates it as respectable surname [3]. It is evident that the distance between self-denigration and other elevation was much larger in ancient China than that in modern China. Elevated honorifics are rarely used outside formal occasions; however the self-denigration maxim still underlines linguistic constructs in Chinese social interaction. The self-denigration maxim is also present in the Japanese politeness or teineisa known as rei. As the Japanese language was greatly influenced by Chinese, some parts copied directly such as the Kanji system, there are bound to be similarities pertaining to social hierarchy and its role in politeness. Rei is a Japanese version of the original Chinese à §Ã‚ ¦Ã‚ ®Ãƒ §Ã‚ ¦Ã‚ ®, however slightly diverged from the original concept. In spoken Japanese, with an honorific o-prefix, o-rei is commonly used in such expressions as o-rei wo suru (to do rei) meaning to express rei as an action; to give a gift to someone whom one is indebted to, or to bow (with no o-prefix). Also o-rei wo iu (to say rei) means to verbally express rei. It is often associated with using the arigatou thanking speech formula, and other speech formulae for apology, such as sumimasen, moushiwake arimasen (Ohashi, 2008). Before World War II, Japan was a Feudal society which placed extreme emphasis on class distinctions and social hierarchies. The variant factor which differentiated Japanese with Chinas changing attitude to politeness was the lack of a violent cultural revolution. Japans transition from a monarchy to the democracy it is today, saw little change in the populaces feelings towards social hierarchy. Therefore we see a broad array of honorific used for addressing or referring to people beyond that of the self-denigration maxim in everyday life. Third-person honorifics such as ore-sama and name+suffix referring to one-self are rarely used outside of popular culture. Commonly seen honorifics are generally gender-neutral and suffixed to first names as well as surnames. Some common affixual honorifics are as follows: Nominal(common): -san The minimal politeness necessary when there is a lack of familiarly between the speakers. Diminutive(common): -chan, -kun Where the addressee is usually that of a lower social status or has a close familiarity with the speaker. Elevative: -sama, -sempai, -sensei, -shi  ­Where the addressee is that or a higher social status or held in great respect by the speaker. Dropping the honorific referred to as yobisute implies a high degree of intimacy, however if used mistakenly or out of such boundaries, social backlash can occur as this is a serious breach of teineisa. Okamoto (1999) views the use of honorifics as determined by features of the context. Honorifics are commonly said to be used in reference to the relevant individual who is perceived as distant from the speaker. Other factors such as formality of the setting, means of communication and topic discussed, have also been noted to affect the use of honorifics and honorific speech. In Japanese, honorifics are also often used together with varying systems of honorific speech, by either grammatically or morphologically changing what is being said. This results in varying ways of saying the exact same thing albeit with varying levels of teineisa. For example, Haugh et al. (2003) illustrates the different ways of saying today is Saturday to varying circumstances below. (32a) (to a close friend) Kyoo wa doyoobi da. today Top Saturday Cop(NonPol) (32b) (to an acquaintance) Kyoo wa doyoobi desu. today Top Saturday Cop(Pol) (32c) (to a guest on a formal occasion) Kyoo wa doyoobi degozaimasu. today Top Saturday Cop(SuperPol) (ibid: 415). The last sentence (32c) is what would be referred as keigo. To go a step further, we have three sub-categories of honorific speech: sonkeigo , respectful language; kensongo or kenjÃ…Â go, humble language; and teineigo, polite language. Below is a chart from Wikipedia which outlines the various morphological changes in words necessary for varying situations. (Attachment 3) To make a mistake in such complex mutilation of language is easy indeed! Due to the complexity of honorific speech, Agha (1994) even suggests individuals who use more honorifics are further educated and mature, and therefore, are of a higher social status. However, one must keep in mind, similar to the many archaic honorifics in Chinese, these specialized forms are rarely if ever used outside extremely formal or special circumstances. Agha (1994) further notes modern Japanese, especially the newer generations, seem to deemphasize hierarchy, where those in higher standing would use honorifics towards their subordinates. The author interprets such use of honorifics as an attempt to reduce the hierarchically defined distance by reciprocating respect. This phenomenon suggests a change in the ideology of honorifics that reflects ongoing social change in Japan. Modern English has a very few Honorifics, all of which are titles pre-fixing a persons name. This exhaustive list from Wikipedia is shown below Ms: default use for women regardless of marital status. Miss: for use by unmarried women only. Mrs: for use by married women only. Mr: for men. Master: for boys or very young men. Dr: a person who has obtained a doctorate, such as the Doctor of Medicine (M.D.) or Doctor of Philosophy (Ph.D.) Rev: for Christian clergy Fr: for priests in Catholic and Orthodox Christianity, and some Anglican or Episcopalian groups The first four are simple variations of standard title. Master is uncommonly heard and the latter three examples are titles of profession. There is also no official honorific speech in modern English, the closest relative to that in Chinese and Japanese would be the languages used towards royalty in old English. The lack of honorifics can be attributed to drastic cultural aversion towards large gaps in the social hierarchy. Most leading western countries operate under some form of democracy, where wars were fought over to take power out of a single persons hands and spread equally to the populace. Regardless of how effective this is in practice, the people still perceive equality as paramount in social hierarchy; that the leader of state is just another person elected by the masses. This is in direct contradiction to thought prevalent in the past when Asian languages were being developed. The head of state, otherwise, emperor was usually symbolized as a divine being with a god-given right to rule. This is similar to European feudal thought towards monarchies; however one has to take into account the time it takes for languages to develop. Indeed if the English monarchy had a history as long as Chinas five thousand years, the western world today would be talking in flowery honorifics. Interestingly, in western culture, honorifics are more commonly used in religion, most notably Christianity. Every station in the Christian religion has an honorific, with the Pope associated with holiness at the pinnacle of the hierarchy. The development and contemporary usage of such honorifics can be attributed to the continual existence and popular belief of the Christian religion over the last two millennia. Ultimately politeness and honorifics reflect cultural values towards social hierarchies. Many of these systems operate under a self-denigration maxim, to do otherwise is seen as breaching etiquette and may have severe repercussions. Honorifics are also often used together with varying systems of honorific speech, many of which are obsolete in modern society. Not only is politeness intrinsically intertwined with the cultural values, but as discussed, it takes a long period where a stable social hierarchy with clearly distinguished levels exists for the continual development and use of honorifics. Nevertheless, politeness will always be integral to human nature and the manner or form of how we execute civility are fundamentally ever-changing.

New Jersey V. T.L.O. Essay -- essays research papers

The Fourth Amendment to the constitution protects United States citizens from unreasonable searches and seizures. Our forefathers recognized the harm and abuses that occurred in the colonies to innocent people by the British, and they made sure to write protections into the U.S. Constitution. Fearing the police state that any nation has the potential to become and recognizing that freedom and liberty is meaningless when victimization by the police is a real and foreboding threat the Fourth Amendment was created. The Fourth Amendment has gone through many challenges and controversies in the past, and currently the issue of how the Fourth Amendment applies to students in public schools has come to be contended in the courts. While it is apparent to me that the Fourth Amendment should be no less applicable in schools than in the general society these essential Constitutional protections have been under fire in recent years and many rights have been taken away from students. The Fourth Amendment of the Constitution states, "The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized." No where in this law does it create special divisions or classifications between adults and minors in society, so one should naturally assume that persons under 18 should be afforded the same protections as anyone over 18. The moment when minors are most at the mercy of government officials is while in school, and this is when these Constitutional Fourth Amendment protections are needed. The largest and first assault on the rights of students to be free from unreasonable searches and seizures occurred in the case of New Jersey v. T.L.O. In 1980 at Piscataway High School in Middlesex County, N.J. a few girls were caught smoking in the bathroom. After being brought to the principal's office one of the girls, T.L.O., denied that she had been smoking. The principal then searched her purse looking for cigarettes. After finding a pack of cigarettes the search continued until the principal discovered evidence of drug dealing. This evidence was used to prosecute T.L.O. and ultimately she received a year of p... ...arteries a secret. This I find to be substantially suspect. While I do not argue that the student athletes have a lower expectation of privacy due to their situation in the locker rooms and activities undertaken together as a team, I do not believe that this expectation is nearly low enough to allow an invasion of ones own body for the purposes of a search. Clearly there is no way for anyone to have any indication of what chemicals are contained inside one's own blood by a casual glance or even a thorough study of the outside of one's body. The expectation of privacy regarding one's blood would be equivalent to the contents of a safe hidden and locked inside one's house. While this expectation of privacy is something to be respected it can still be violated by an individual suspicious of guilt accompanied by a probable cause and a search warrant. In that case the blood test or the opening of the safe would be justified in my opinion. But due to the nature of the randomness of thi s search it is obvious to me that it is unconstitutional and this court decision should be reversed. These two court cases are very important in the evolution of the Fourth Amendment in public schools. New Jersey V. T.L.O. Essay -- essays research papers The Fourth Amendment to the constitution protects United States citizens from unreasonable searches and seizures. Our forefathers recognized the harm and abuses that occurred in the colonies to innocent people by the British, and they made sure to write protections into the U.S. Constitution. Fearing the police state that any nation has the potential to become and recognizing that freedom and liberty is meaningless when victimization by the police is a real and foreboding threat the Fourth Amendment was created. The Fourth Amendment has gone through many challenges and controversies in the past, and currently the issue of how the Fourth Amendment applies to students in public schools has come to be contended in the courts. While it is apparent to me that the Fourth Amendment should be no less applicable in schools than in the general society these essential Constitutional protections have been under fire in recent years and many rights have been taken away from students. The Fourth Amendment of the Constitution states, "The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized." No where in this law does it create special divisions or classifications between adults and minors in society, so one should naturally assume that persons under 18 should be afforded the same protections as anyone over 18. The moment when minors are most at the mercy of government officials is while in school, and this is when these Constitutional Fourth Amendment protections are needed. The largest and first assault on the rights of students to be free from unreasonable searches and seizures occurred in the case of New Jersey v. T.L.O. In 1980 at Piscataway High School in Middlesex County, N.J. a few girls were caught smoking in the bathroom. After being brought to the principal's office one of the girls, T.L.O., denied that she had been smoking. The principal then searched her purse looking for cigarettes. After finding a pack of cigarettes the search continued until the principal discovered evidence of drug dealing. This evidence was used to prosecute T.L.O. and ultimately she received a year of p... ...arteries a secret. This I find to be substantially suspect. While I do not argue that the student athletes have a lower expectation of privacy due to their situation in the locker rooms and activities undertaken together as a team, I do not believe that this expectation is nearly low enough to allow an invasion of ones own body for the purposes of a search. Clearly there is no way for anyone to have any indication of what chemicals are contained inside one's own blood by a casual glance or even a thorough study of the outside of one's body. The expectation of privacy regarding one's blood would be equivalent to the contents of a safe hidden and locked inside one's house. While this expectation of privacy is something to be respected it can still be violated by an individual suspicious of guilt accompanied by a probable cause and a search warrant. In that case the blood test or the opening of the safe would be justified in my opinion. But due to the nature of the randomness of thi s search it is obvious to me that it is unconstitutional and this court decision should be reversed. These two court cases are very important in the evolution of the Fourth Amendment in public schools.

Privacy of Personal Information on the Internet Essay -- French France

Privacy of Personal Information on the Internet United States Policy Living in the United States has its advantages. We are afforded many opportunities that are unavailable or unheard of in other countries. We maintain a limited right to privacy in the areas of education, marriage, procreation, contraception etc. In certain instances, government officials are allowed to watch, listen, search and/or seize a person's personal information. Warrants are usually needed in order to gain this type of information. The Bill of Rights states the provisions to our right of privacy. The Fourth Amendment is the right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched. French Republic Policy The right to privacy is implicit to the French Constitution. The French Republic has had many acts regarding the privacy issues of its citizens. The growing popularity of the Internet has made it necessary to include the Internet in these acts. In 1994, the Constitutional Court ruled that the Data Protection Act In 1978 a Data Protection Act was brought into law to protect personal information of private parties and government agencies. Registration and permissions were needed in order to process personal data. Individual parties had the right to access, demand corrections and sometimes deletion about the information being kept on them. Violators of this act faced imprisonment and/or fines. Modifications to Act In 2003, revisions began to be made of the Data Protection Act. The new law would increase ... ...he portal that hosted the racial sites, the plaintiff was able to single out one French Citizen who also hosted the site. It is like picking a needle out of the hay sack. Which in this case didn’t seem to be that hard. Sources [1] Cedric Laurant, Electronic Privacy information Center, 2003, [2] Cedric Laurant, Electronic Privacy information Center, 2003, [3] Richard A. Spinello, CyberEthics: Morality and Law in Cyberspace Second Edition (Massachusetts: Jones and Bartlett Publishers, 2003) 85. [4] Sara Baase, A Gift of Fire Second Edition (New Jersey: Pearson Education, Inc., 2003) 36-80, 141-186. [5] Steve McConnell, Software Project Survival Guide (Washington: Microsoft Press, 1998) 8.

Moses VS Abraham Essay -- essays research papers

In the Old Testament, Abraham and Moses were two very prominent leaders chosen by God to do his will. Throughout Genesis and Exodus, both men play important roles in fulfilling God’s will. They are put to many tests, given covenants, and communicate constantly with God. Although they have many similarities such as being leaders and men of God, there are also many differences between the two. In terms of leadership, Abraham was a noble leader. Although he grew up in a camp where the notion of one God was not accepted, he eventually manages to become the leader of a tribe and make the people believe in his faith. He leads them around endlessly from Ur to Canaan, to Egypt, then back to Canaan. His tribe followed him around without much questions. They just followed his leadership. Moses was also a great leader. When he led the Hebrews out of Egypt to the Red Sea, some people questioned Moses saying, â€Å"It would have been better for us to serve the Egyptians than to die in the desert† (Exodus14:12). Moses being a calm leader replied, â€Å"Do not be afraid. Stand firm and you will see the deliverance the Lord will bring you today. The Egyptians you see today you will never see again. The Lord will fight for you; you need only to be still† (Exodus 14:13-14). In the mist of his people doubting him and the Egyptians on the chase, Moses reassures his people to p ut their faith in God. This shows Moses courageous leadership in a time of eminent danger. After they cross the Red Sea, with the help of the Lord parting it, the Red Sea closes on the Egyptians and Moses and his people are safe. After all this, Moses and his people encounter many struggles such as thirst, hunger, attacks from enemies, however Moses always manages somehow to renew the faith of his people and lead them to the promise land. Just like Abraham, Moses was a worthy leader. They both managed to keep the faith of their people in God and they lead the people to the places they were destined to go. The only difference is that Moses faced more doubt from his people then Abraham did. Although they were similar leaders, they did have a different relationship with God. Abraham from the onset did not question God at all. Anything that God told him to do, it was done. For example, God asked Abraham, â€Å"Take your son, your only son, Isaac, whom you love, and go to the region of Moriah. Sacrifice him there as a burnt ... ...er the sea to divide the water so that the Israelites can go through the sea on dry ground† (Exodus 14:15). Unlike Abraham, who communicated to God solely through prayer, Moses communicated to God in a physical form and a direct way, in addition to prayer. In conclusion, both Abraham and Moses were great leaders of their people. Moses had the extra burden of freeing them first, however they both ended up convincing their people to put their faith in God and lead them properly. As far as their relationship with God goes, they both had undoubting faith in the end, but Moses had different relationship with God initially since he questioned himself. Abraham did everything God told him to without question, including almost having to sacrifice his son. They both ended up caring out their respective covenants, both dealing with the promise of a new land filled with glory. The last point is that they communicated a bit differently with God. Moses talked to God directly, in the form of a burning bush, and through prayer. Abraham only conversed with God through prayer. In short, both men of God had many similarities and differences, in various aspects of their lives and connection with God.

Principles of Business

The Development of Economic Activity Human Beings produce and consume goods and services from the resources in their environment. It is primarily for the reason that humans are called ECONOMIC ANIMAL, because he or she has the ability to use his or her hands and brain to satisfy his or her immediate personal needs. These are looked at as basic needs; these needs are food, shelter and clothing (Economic Activity). Economic Activity means activities which results in the satisfaction of needs.In order to satisfy these needs, man engaged in certain economic activity such as farming, fishing, hunting, trade form, women stay home. Direct Production/ Direct Satisfaction of Wants Direct Production really means that human beings provide all their needs for themselves and their family without the aid of others; in other words, they do not depend on others to provide. Indirect Production/ Indirect Satisfaction of Wants Indirect Production means that human beings exchange their surplus by barter with others; in other words, human beings depend on others to do things for them  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Subsistence EconomySubsistence Economy – An economy which provide just enough to survive, but not to improve their way of life. BARTER SYSTEM Barter System is the exchange of goods or services for other goods and services without the use of money. ADVANTAGE OF BARTER SYSTEM * It allowed people to dispose of any surplus, they had at the same time obtain a variety of things they needed. * It enables persons to enjoy goods and services they could not produce. * Countries with foreign currency problems can get goods and services that they require. Countries that engage in trade can strengthen their political and cultural ties. DISADVANTAGE OF BARTER SYSTEM * Double or co-incidence of wants – No trade can take place unless there is double or co-incidence of wants; that is your trading partner has wh at you want and wants what you have. * Time Consumption – It could be challenging to find willing partners. * Spoilage – If an individual failed to find a suitable partner within a reasonable time ones wealth in goods could be destroyed. Unequal Exchange – There is the difficulty or unequal exchange where the values of some goods far outweigh the value of other goods. MONEY Money is any commodity that is generally acceptable and is used as a medium of exchange and as a measure of value CHARACTERISTICS OF MONEY * Acceptability – It must be readily acceptable by everyone * Durability – It should not wear out easily * Homogeneity – it features should be identical * Divisibility – Money should be able to be broken down into smaller units. Portability – It should be easy to carry around. FUNCTIONS OF MONEY * Medium of Exchange – Money makes the exchange of goods easier * Measure of Value – Money can be used to state pr ices of goods * Store of Value –   Money can be saved * Deferred Payment – Money can be earned at one time and spent at another. DIVISION OF LABOUR OR SPECIALIZATION Division of labour is sharing the work. The work is divided among persons and they specialize in doing their part of the process, specialization comes as a part of this. DIVISION OF LABOUR BY PRODUCTDivision of labour by product means people can do what they can do best in exchange for money and then using the money earned to buy the goods and services of others. DIVISION OF LABOUR BY PROCESS Division of labour by process means by organizing production into many stages workers become more specialized in their work and consequently they produce more. ADVANTAGES OF DIVISION OF LABOUR OR SPECIALIZATION * Workers become more expert in their jobs * Jobs become simpler and easier to learn * Output per person increases * Machinery and automation can be used Workers can more easily change jobs * Unit cost are re duced DISADVANTAGES OF DIVISION OF LABOUR OR SPECIALIZATION * Work can be tedious and boring thus resulting in poor worker motivation and the likelihood of a higher rate of absentism * Workers creativity is limited * Greater use of machinery can cause unemployment * Production can easily be stopped by strikes ECONOMIC SYSTEM Economic System refers to the method by which a nation or country plan to utilize its resources in order to achieve economic growth and to benefit its citizens. MAJOR ECONOMIC SYSTEMEvery country is given by an economic system as each system has to decide how to allocate its resources to meet the needs of the citizens. This is a problem because the worlds resources are limited in supply and mans wants are unlimited. The economic is therefore deciding how to best to share these scarce resources. The decision of what to produce or what choices to make from the limited resources available is influenced by the political situation within which the decision is made. I n order to share resources all economic must answer to all these problems. PROBLEMS OF ECONOMIC SYSTEM FACE Limited Resources * Man wants are unlimited * Scarcity * How to share resources * Choice / decision No two countries are organized in the same way but they all have to solve three basic problems as follows * What should be produced? * How much to produce? * How is it to be produce? * Where is it to be produce? There are four different economic systems which answer the foregoing questions. * Subsistence Economy * Free Market Economy {Alternative name – Capitalists, Laissez-faire} * Controlled Economy {Alternative name – Collectivists, Communist, Command Control} * Mixed SUBSISTENCE ECONOMYA subsistence economy is one where there is little specialization and little trade. In such an economy people tend to live in family groups and grow most of their own food. Free Market Economy In a free market economy there is little or no government interference in the economy. It is based on the private ownership of the factors of production and the means of the distributing goods and services. Market forces are allowed to determine how resources are allocated. Examples of Free Market Economy is Jamaica, and Trinidad and Tobago, United States of America and Hong Kong Advantages of Free market Economy Individuals are free to make choices as to what they want to produce, where they who they want to work for, what price they are going to charge for labour and also the price of their finished products * Customers can decide what to produce by influencing market prices * When consumers demands certain goods and services, they send messages to the producers who in turn will produce and meet the demands and thus satisfy the preference of consumers Disadvantages of Free market Economy * It encourages inequalities of wealth The more powerful businesses may buy out the smaller ones thus reducing competition * Wealthy people are more able to purchase and influence t he market than smaller ones * Companies may be tempted to restrict supplies to keep prices high Planned / Controlled / Collectivist Economy In a controlled economy all economic decisions are made by the government. The state decides what to produce, how it is to be produced and how it should be allocated to consumers; in other words, the state decides what the community needs and therefore demand is not influenced by the consumer.Examples of Controlled economies are Cuba and China. Advantages of Controlled Economy * State   control eliminates wasteful competition * The state will provide goods that private enterprise will be unwilling to provide * It is impossible for private monopolies to develop * The state ensures that the needs of the community are met Disadvantages of Controlled Economy * Free enterprise and competition are discouraged * Creativeness and efficiency are not encouraged MIXED ECONOMY Mixed economy is a combination of elements from free economy and a controlled e conomy.There is a public sector controlled by the government which provides goods and services that the state feels it can manage most efficiently and a private sector in which individuals risk capital in producing goods and services for profit. ADVANTAGES OF MIXED ECONOMY * Individuals have freedom of choice * Government can intervene to protect citizens from unfair monopoly * Both the private and public sector may unite in producing goods. DISADVANTAGES OF MIXED ECONOMY * It is possible for private monopolies to develop Too many government regulations may discourage persons from owning a business GLOBALIZATION Globalization can be seen as the intensification and spread of world wide social, economic, cultural and political relationships among countries. BENEFITS OF GLOBALIZATION * Provision of high quality goods and services at a cheaper rate which is achieved through economies of scale * In contributing to globalization firms not only provide goods and services economically but t hey also provide employment for people IMPACT OF GLOBALIZATIONThe impact of globalization has some adverse effect on small economies of the Caribbean. Large international firms that can produce high quality goods and services at a cheaper cost set challenges to small firms that are producing similar goods and services PRIMARY PRODUCTION Primary Production includes activity which takes the natural resources from the earth, that is the extraction of raw materials and the growing of food. Example Mining, fishing farming and forestry Secondary ProductionSecondary production involves manufacturing, processing and construction which transform raw materials into finish or semi-finished goods. Example baking, ship building and office construction. Tertiary Production Tertiary production includes the provision of serves example Hairdressing. PRIVATE AND PUBLIC SECTOR The private sector is that part of the economy that is owned and controlled by private individuals and firms. Funds for the es tablishment of private business operation are obtained through * Loans from Bank or Financial Institution * Personal Savings Financing from family and friends The public sector refers to business in the economy that are owned by government for the benefit of the public citizens. The main motive is to provide goods and services to benefit the country. Funds will mainly com from taxation. Private sector enterprise will involve in manufacturing, mining etc and they are able to produce or provide the services they wish but they must abide by rules and regulation establish by the government, on the other hand, the public sector relies on the private sector for taxation to maintain the operations of the country.In most Caribbean countries we say that there is a mixed economy because some businesses are privately owned and others are owned by the state ADVANTAGES OF PRIVATE SECTOR TO A SOCIETY * Public Sector protects citizens from exploitation by powerful monopolies * Public sector provid es employment for many persons * Public sector contributes to the economic lives of the country PUBLIC BUSINESS UNDERTAKINGS Public Corporations: These are government or state owned businesses that are primarily run by Central government.Municipal Undertakings: These are government owned businesses that are run primarily by the Local Government. These include market, parks and beaches Government Undertakings: These departments carry out special functions such as education, health and finance REASONS FOR ESTABLISHING A BUSINESS * To earn a income * To make a profit- which is the result when a firm’s sales revenue is greater than its total costs. Profit is important because it enables business to survive and grow, it also provides the owner with a return for taking the risk of losing money they have invested. To provide employment to persons in and around the community * To expand production and increase the yearly sales of the firm * To produce a product that is either a good or service to the community * To have the satisfaction of being one’s own boss SOLE TRADERSHIP OR SOLE PROPRIETORSHIP The sole tradership or sole proprietorship is defined as a one man business, this is so because he or she enters business on his or her own, therefore bearing the risk of the business and thus entitled to all the profits.Even when the sole trader invites someone else to assist in the running of the business, these individuals would be employees. They do not share in ownership of the business and the owner is responsible for decisions made concerning the business. * Sole tradership is very easy to setup and operate. * It does not require any legal paperwork or registration. * Sole Trader is an unincorporated business, which means that the owner and business are one and same in the eyes of the law. This means that he conducts in his own name, his business is not separate from him. Sole Trader has unlimited liability which means that their personal assets can be clamed to settle the debts of their business that is why in the case of bankruptcy the sole trader stands to lose his/ her personal belongings, if the business assets cannot cover his/her debts. In order to finance the business the sole trader may: *   Use his personal savings to start the business. * The sole trader may also borrow funds from family members or friends. * The sole trader may also get funds from financial institution such as credit unions, commercial banks or government sources as the business progresses. The sole trader may also reinvest or plough back some of the profits made in the business. The sole Trader may sell ownership of his business to someone else. If he/she dies then the business no longer exists. ADVANTAGES OF SOLE TRADER * The business is simple to start and usually requires only a small amount of capital * Profits are not shared * Decisions are made promptly and the new ideas put in place quickly * The owner retains personal control over the direct ion and growth of his/her business DISADVANTAGES OF SOLE TRADER It is difficult to access capital if the sole trader wants to expand his business * The sole trader bears all the losses * The sole trader may have to work long hours and may not be able to take vacation when he wants to do so * Unlimited Liability , therefore in the case of bankruptcy he may lose his personal belongings to claim its debts * There is lack of continuity if the owner dies PARTNERSHIP An ordinary partnership is an association of two to twenty persons who are in business together with a view to earning a profit.This type of partnership may have general or active partners who are involved in the day to day operations of the business. A Sleeping partner is a partner who may be willing to introduce capital into a business but may not wish to take an active part in the running of the business In an ordinary partnership all partners have unlimited liability which means that they stand to lose not only their inve stment capital but also their personal assets. It is possible to have a limited partnership bit at least one partner mush accept unlimited liability.Partnership is formed amongst partners, partners may share in the management of the business or may serve as the manager or they may employ someone to manage the business Partners are free to decide whatever arrangement they like amongst themselves as to what rules will govern their organization. Partners have a written arrangement or deed. A partnership deed sets out the rights of each partner as to the division of profits. The deed sets out: * The name of the business and the date the business started * The type of business and the location of the business Details of each partner * The amount of capital each partner invested * How profits to be shared * The responsibility of each partner in the business In financing a partnership business all partners pool their savings together, loans and retained. Profits are shared by the deed draw n up by the partners, the absence of the deed means that profits are shared equally. In a partnership all partners are held personally responsible for all debts of the business. If one partner cannot fulfill his obligations then the other partner will bear all the losses. A partnership may be terminated: When partner or partners decide to sell their share of the partnership to someone else. When this occurs a new partners are brought in. * If it becomes insolvent or bankrupt * When all parties agree to terminate the business ADVANTAGES OF PARTNERSHIP * It is easy to form as there are few legal formalities * More capital is available to foster growth and development. * Workload can be shared amongst partners DISADVANTAGES OF PARTNERSHIP * If a partner makes a mistake all partners stand to lose * Each partner is liable for the debts of the business * Possible disagreements between partners Membership limit of twenty which restricts resources of the business CO-OPERATIVES A cooperative is a form of business that is owned and controlled by a group of persons who have a common interest and who have an equal say in operation. Types of Cooperatives * Producer Cooperative: In this type of cooperative society members are in their business of producing example in a farming community * Buyers Cooperatives: This is a type of cooperative in which persons who use a particular good in their business operations come together to purchase that good in large quantities and gain benefits of discounts. Financial Cooperatives: This is a service oriented society. It brings together persons who have a common interest. The aim is for members to pool their resources in the provision of service * Workers Cooperative: Are businesses that are owned and run by their own workforces. Example the crews of a bus company Cooperative is governed by a general meeting. The meeting is held annually and it is at this meeting that a committee is appointed to handle the day to day affairs of the coope rative.The cooperative is controlled by its members. Each member contributes to share capital of the cooperative. Members finance the cooperative through the purchase of shares Shareholders receives dividends if the cooperative makes a profit from its operation. The amount of dividend is related to the number of shares held. Dividends are generally small, since the major goal is not to make a profit but to provide a service to its members. Earnings from a cooperative are not totally consumed in the payment of dividend.Most of these are ploughed back into the cooperatives to finance operational needs identified by the members. ADVANTAGES OF CO-OPERATIVES * Members benefit from the pooling of funds for the purpose of lending to other members * Members have equal say in the operation of business as well as in the decision making of the cooperatives * Members are the owners of the cooperative society * Employment is created within the organization DISADVANTAGES OF CO-OPERATIVES * Profit s may be small or non existent * Shortage or lack of capital may inhibit growth and cause problems Principles of Business The Development of Economic Activity Human Beings produce and consume goods and services from the resources in their environment. It is primarily for the reason that humans are called ECONOMIC ANIMAL, because he or she has the ability to use his or her hands and brain to satisfy his or her immediate personal needs. These are looked at as basic needs; these needs are food, shelter and clothing (Economic Activity). Economic Activity means activities which results in the satisfaction of needs.In order to satisfy these needs, man engaged in certain economic activity such as farming, fishing, hunting, trade form, women stay home. Direct Production/ Direct Satisfaction of Wants Direct Production really means that human beings provide all their needs for themselves and their family without the aid of others; in other words, they do not depend on others to provide. Indirect Production/ Indirect Satisfaction of Wants Indirect Production means that human beings exchange their surplus by barter with others; in other words, human beings depend on others to do things for them  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Subsistence EconomySubsistence Economy – An economy which provide just enough to survive, but not to improve their way of life. BARTER SYSTEM Barter System is the exchange of goods or services for other goods and services without the use of money. ADVANTAGE OF BARTER SYSTEM * It allowed people to dispose of any surplus, they had at the same time obtain a variety of things they needed. * It enables persons to enjoy goods and services they could not produce. * Countries with foreign currency problems can get goods and services that they require. Countries that engage in trade can strengthen their political and cultural ties. DISADVANTAGE OF BARTER SYSTEM * Double or co-incidence of wants – No trade can take place unless there is double or co-incidence of wants; that is your trading partner has wh at you want and wants what you have. * Time Consumption – It could be challenging to find willing partners. * Spoilage – If an individual failed to find a suitable partner within a reasonable time ones wealth in goods could be destroyed. Unequal Exchange – There is the difficulty or unequal exchange where the values of some goods far outweigh the value of other goods. MONEY Money is any commodity that is generally acceptable and is used as a medium of exchange and as a measure of value CHARACTERISTICS OF MONEY * Acceptability – It must be readily acceptable by everyone * Durability – It should not wear out easily * Homogeneity – it features should be identical * Divisibility – Money should be able to be broken down into smaller units. Portability – It should be easy to carry around. FUNCTIONS OF MONEY * Medium of Exchange – Money makes the exchange of goods easier * Measure of Value – Money can be used to state pr ices of goods * Store of Value –   Money can be saved * Deferred Payment – Money can be earned at one time and spent at another. DIVISION OF LABOUR OR SPECIALIZATION Division of labour is sharing the work. The work is divided among persons and they specialize in doing their part of the process, specialization comes as a part of this. DIVISION OF LABOUR BY PRODUCTDivision of labour by product means people can do what they can do best in exchange for money and then using the money earned to buy the goods and services of others. DIVISION OF LABOUR BY PROCESS Division of labour by process means by organizing production into many stages workers become more specialized in their work and consequently they produce more. ADVANTAGES OF DIVISION OF LABOUR OR SPECIALIZATION * Workers become more expert in their jobs * Jobs become simpler and easier to learn * Output per person increases * Machinery and automation can be used Workers can more easily change jobs * Unit cost are re duced DISADVANTAGES OF DIVISION OF LABOUR OR SPECIALIZATION * Work can be tedious and boring thus resulting in poor worker motivation and the likelihood of a higher rate of absentism * Workers creativity is limited * Greater use of machinery can cause unemployment * Production can easily be stopped by strikes ECONOMIC SYSTEM Economic System refers to the method by which a nation or country plan to utilize its resources in order to achieve economic growth and to benefit its citizens. MAJOR ECONOMIC SYSTEMEvery country is given by an economic system as each system has to decide how to allocate its resources to meet the needs of the citizens. This is a problem because the worlds resources are limited in supply and mans wants are unlimited. The economic is therefore deciding how to best to share these scarce resources. The decision of what to produce or what choices to make from the limited resources available is influenced by the political situation within which the decision is made. I n order to share resources all economic must answer to all these problems. PROBLEMS OF ECONOMIC SYSTEM FACE Limited Resources * Man wants are unlimited * Scarcity * How to share resources * Choice / decision No two countries are organized in the same way but they all have to solve three basic problems as follows * What should be produced? * How much to produce? * How is it to be produce? * Where is it to be produce? There are four different economic systems which answer the foregoing questions. * Subsistence Economy * Free Market Economy {Alternative name – Capitalists, Laissez-faire} * Controlled Economy {Alternative name – Collectivists, Communist, Command Control} * Mixed SUBSISTENCE ECONOMYA subsistence economy is one where there is little specialization and little trade. In such an economy people tend to live in family groups and grow most of their own food. Free Market Economy In a free market economy there is little or no government interference in the economy. It is based on the private ownership of the factors of production and the means of the distributing goods and services. Market forces are allowed to determine how resources are allocated. Examples of Free Market Economy is Jamaica, and Trinidad and Tobago, United States of America and Hong Kong Advantages of Free market Economy Individuals are free to make choices as to what they want to produce, where they who they want to work for, what price they are going to charge for labour and also the price of their finished products * Customers can decide what to produce by influencing market prices * When consumers demands certain goods and services, they send messages to the producers who in turn will produce and meet the demands and thus satisfy the preference of consumers Disadvantages of Free market Economy * It encourages inequalities of wealth The more powerful businesses may buy out the smaller ones thus reducing competition * Wealthy people are more able to purchase and influence t he market than smaller ones * Companies may be tempted to restrict supplies to keep prices high Planned / Controlled / Collectivist Economy In a controlled economy all economic decisions are made by the government. The state decides what to produce, how it is to be produced and how it should be allocated to consumers; in other words, the state decides what the community needs and therefore demand is not influenced by the consumer.Examples of Controlled economies are Cuba and China. Advantages of Controlled Economy * State   control eliminates wasteful competition * The state will provide goods that private enterprise will be unwilling to provide * It is impossible for private monopolies to develop * The state ensures that the needs of the community are met Disadvantages of Controlled Economy * Free enterprise and competition are discouraged * Creativeness and efficiency are not encouraged MIXED ECONOMY Mixed economy is a combination of elements from free economy and a controlled e conomy.There is a public sector controlled by the government which provides goods and services that the state feels it can manage most efficiently and a private sector in which individuals risk capital in producing goods and services for profit. ADVANTAGES OF MIXED ECONOMY * Individuals have freedom of choice * Government can intervene to protect citizens from unfair monopoly * Both the private and public sector may unite in producing goods. DISADVANTAGES OF MIXED ECONOMY * It is possible for private monopolies to develop Too many government regulations may discourage persons from owning a business GLOBALIZATION Globalization can be seen as the intensification and spread of world wide social, economic, cultural and political relationships among countries. BENEFITS OF GLOBALIZATION * Provision of high quality goods and services at a cheaper rate which is achieved through economies of scale * In contributing to globalization firms not only provide goods and services economically but t hey also provide employment for people IMPACT OF GLOBALIZATIONThe impact of globalization has some adverse effect on small economies of the Caribbean. Large international firms that can produce high quality goods and services at a cheaper cost set challenges to small firms that are producing similar goods and services PRIMARY PRODUCTION Primary Production includes activity which takes the natural resources from the earth, that is the extraction of raw materials and the growing of food. Example Mining, fishing farming and forestry Secondary ProductionSecondary production involves manufacturing, processing and construction which transform raw materials into finish or semi-finished goods. Example baking, ship building and office construction. Tertiary Production Tertiary production includes the provision of serves example Hairdressing. PRIVATE AND PUBLIC SECTOR The private sector is that part of the economy that is owned and controlled by private individuals and firms. Funds for the es tablishment of private business operation are obtained through * Loans from Bank or Financial Institution * Personal Savings Financing from family and friends The public sector refers to business in the economy that are owned by government for the benefit of the public citizens. The main motive is to provide goods and services to benefit the country. Funds will mainly com from taxation. Private sector enterprise will involve in manufacturing, mining etc and they are able to produce or provide the services they wish but they must abide by rules and regulation establish by the government, on the other hand, the public sector relies on the private sector for taxation to maintain the operations of the country.In most Caribbean countries we say that there is a mixed economy because some businesses are privately owned and others are owned by the state ADVANTAGES OF PRIVATE SECTOR TO A SOCIETY * Public Sector protects citizens from exploitation by powerful monopolies * Public sector provid es employment for many persons * Public sector contributes to the economic lives of the country PUBLIC BUSINESS UNDERTAKINGS Public Corporations: These are government or state owned businesses that are primarily run by Central government.Municipal Undertakings: These are government owned businesses that are run primarily by the Local Government. These include market, parks and beaches Government Undertakings: These departments carry out special functions such as education, health and finance REASONS FOR ESTABLISHING A BUSINESS * To earn a income * To make a profit- which is the result when a firm’s sales revenue is greater than its total costs. Profit is important because it enables business to survive and grow, it also provides the owner with a return for taking the risk of losing money they have invested. To provide employment to persons in and around the community * To expand production and increase the yearly sales of the firm * To produce a product that is either a good or service to the community * To have the satisfaction of being one’s own boss SOLE TRADERSHIP OR SOLE PROPRIETORSHIP The sole tradership or sole proprietorship is defined as a one man business, this is so because he or she enters business on his or her own, therefore bearing the risk of the business and thus entitled to all the profits.Even when the sole trader invites someone else to assist in the running of the business, these individuals would be employees. They do not share in ownership of the business and the owner is responsible for decisions made concerning the business. * Sole tradership is very easy to setup and operate. * It does not require any legal paperwork or registration. * Sole Trader is an unincorporated business, which means that the owner and business are one and same in the eyes of the law. This means that he conducts in his own name, his business is not separate from him. Sole Trader has unlimited liability which means that their personal assets can be clamed to settle the debts of their business that is why in the case of bankruptcy the sole trader stands to lose his/ her personal belongings, if the business assets cannot cover his/her debts. In order to finance the business the sole trader may: *   Use his personal savings to start the business. * The sole trader may also borrow funds from family members or friends. * The sole trader may also get funds from financial institution such as credit unions, commercial banks or government sources as the business progresses. The sole trader may also reinvest or plough back some of the profits made in the business. The sole Trader may sell ownership of his business to someone else. If he/she dies then the business no longer exists. ADVANTAGES OF SOLE TRADER * The business is simple to start and usually requires only a small amount of capital * Profits are not shared * Decisions are made promptly and the new ideas put in place quickly * The owner retains personal control over the direct ion and growth of his/her business DISADVANTAGES OF SOLE TRADER It is difficult to access capital if the sole trader wants to expand his business * The sole trader bears all the losses * The sole trader may have to work long hours and may not be able to take vacation when he wants to do so * Unlimited Liability , therefore in the case of bankruptcy he may lose his personal belongings to claim its debts * There is lack of continuity if the owner dies PARTNERSHIP An ordinary partnership is an association of two to twenty persons who are in business together with a view to earning a profit.This type of partnership may have general or active partners who are involved in the day to day operations of the business. A Sleeping partner is a partner who may be willing to introduce capital into a business but may not wish to take an active part in the running of the business In an ordinary partnership all partners have unlimited liability which means that they stand to lose not only their inve stment capital but also their personal assets. It is possible to have a limited partnership bit at least one partner mush accept unlimited liability.Partnership is formed amongst partners, partners may share in the management of the business or may serve as the manager or they may employ someone to manage the business Partners are free to decide whatever arrangement they like amongst themselves as to what rules will govern their organization. Partners have a written arrangement or deed. A partnership deed sets out the rights of each partner as to the division of profits. The deed sets out: * The name of the business and the date the business started * The type of business and the location of the business Details of each partner * The amount of capital each partner invested * How profits to be shared * The responsibility of each partner in the business In financing a partnership business all partners pool their savings together, loans and retained. Profits are shared by the deed draw n up by the partners, the absence of the deed means that profits are shared equally. In a partnership all partners are held personally responsible for all debts of the business. If one partner cannot fulfill his obligations then the other partner will bear all the losses. A partnership may be terminated: When partner or partners decide to sell their share of the partnership to someone else. When this occurs a new partners are brought in. * If it becomes insolvent or bankrupt * When all parties agree to terminate the business ADVANTAGES OF PARTNERSHIP * It is easy to form as there are few legal formalities * More capital is available to foster growth and development. * Workload can be shared amongst partners DISADVANTAGES OF PARTNERSHIP * If a partner makes a mistake all partners stand to lose * Each partner is liable for the debts of the business * Possible disagreements between partners Membership limit of twenty which restricts resources of the business CO-OPERATIVES A cooperative is a form of business that is owned and controlled by a group of persons who have a common interest and who have an equal say in operation. Types of Cooperatives * Producer Cooperative: In this type of cooperative society members are in their business of producing example in a farming community * Buyers Cooperatives: This is a type of cooperative in which persons who use a particular good in their business operations come together to purchase that good in large quantities and gain benefits of discounts. Financial Cooperatives: This is a service oriented society. It brings together persons who have a common interest. The aim is for members to pool their resources in the provision of service * Workers Cooperative: Are businesses that are owned and run by their own workforces. Example the crews of a bus company Cooperative is governed by a general meeting. The meeting is held annually and it is at this meeting that a committee is appointed to handle the day to day affairs of the coope rative.The cooperative is controlled by its members. Each member contributes to share capital of the cooperative. Members finance the cooperative through the purchase of shares Shareholders receives dividends if the cooperative makes a profit from its operation. The amount of dividend is related to the number of shares held. Dividends are generally small, since the major goal is not to make a profit but to provide a service to its members. Earnings from a cooperative are not totally consumed in the payment of dividend.Most of these are ploughed back into the cooperatives to finance operational needs identified by the members. ADVANTAGES OF CO-OPERATIVES * Members benefit from the pooling of funds for the purpose of lending to other members * Members have equal say in the operation of business as well as in the decision making of the cooperatives * Members are the owners of the cooperative society * Employment is created within the organization DISADVANTAGES OF CO-OPERATIVES * Profit s may be small or non existent * Shortage or lack of capital may inhibit growth and cause problems