1. Explain how you understand the advantages and disadvantages of the alternative legal forms for organizing a new venture to be.

2. Explain and compare the S corporation and limited liability company as alternative forms of incorporation.

3. Explain how you understand what difficulties may arise when owners are reluctant to delegate or give up responsibility.

4. Describe how you understand the role of budgets in preparing pro forma statements.

5. Describe the application and calculation of the break-even point for the new venture.

6. Describe why positive profits can still result in a negative cash flow.