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

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