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Week 2: Financial Statements and Taxes Summary Research Paper Instructions For this week’s assignment, you will research and answer the following questions. Explain the following statement: “Whereas the balanc

Week 2: Financial Statements and Taxes Summary Research Paper

Instructions

For this week’s assignment, you will research and answer the following questions.

  • Explain the following statement: “Whereas the balance sheet can be thought of as a snapshot of the firm’s financial position at a point in time, the income statement reports on operations over a period of time.
  • If you were starting a business, what tax considerations might cause you to prefer to set it up as a proprietorship, partnership, or a corporation?

Guidelines

  • The paper should be one to two pages.
  • Use APA format (title page, double-spaced, references).
  • Don’t forget to submit your document.

Action

Select the Start Assignment button to begin.

Once you have uploaded your file(s), select Submit Assignment.

Rubric

FIN510 Week 2 – 100 pts (May 26)

FIN510 Week 2 – 100 pts (May 26)

Criteria

Ratings

Pts

This criterion is linked to a Learning OutcomeBalSht&IncStmt

30 ptsExceedsDetailed discussion of
both statements

25 ptsMasteryCovered main points of
both statements

20 ptsNearDiscussed some of the
aspects of these statements

10 ptsBelowMinimal information
included on the statements

0 ptsNo Evidence

30 pts



This criterion is linked to a Learning OutcomeTaxCons&BusSetUP

30 ptsExceedsDetailed discussion of
how taxes would guide decision

25 ptsMasteryCovered main tax
issues; no preference

20 ptsNearDiscussed some of the
tax issues in this discussion

10 ptsBelowMinimal information
included on the tax issues

0 ptsNo Evidence

30 pts



This criterion is linked to a Learning OutcomeReferences

20 ptsExceedsSpecific, academic
references included for both answers

15 ptsMasterySpecific, academic
references for one answer

5 ptsNearGeneral references
only

0 ptsNo Evidence

20 pts



This criterion is linked to a Learning OutcomePlain language

15 ptsExceedsPlain language used
that a friend could understand

10 ptsMasteryMost plain language
used

5 ptsNearMostly technical
language used

0 ptsNo EvidenceTechnical
or textbook language uased

15 pts



This criterion is linked to a Learning OutcomeFormat

5 ptsExceedsTitle page, double
spaced, paragraph structure

3 ptsMasteryTwo of title page,
double spaced, paragraph structure

2 ptsNearOne of title page,
double spaced, paragraph structure

0 ptsNo Evidence

5 pts



Total Points: 100