There are two questions. Each question is weighted equally, so allocate the time and space accordingly. Your exam essay must NOT exceed three (3) pages, single-spaced, 12-point font. If your essay exceeds this page limitation, I will stop reading and points will be deducted from your total score. Your essay answer MUST be typewritten. Handwritten answers will NOT be accepted.

This written assignment is worth 25% of your total grade.
This written assignment is due on Tuesday, April 17th. Late submissions will not be accepted, unless you have a really, really good excuse (illness with a Doctor’s note, etc.). If you cannot attend class on the 17th, email me your essay before 3:30 p.m. on April 17th. I will not accept anything with a date stamp and time stamp after 3:30 p.m. on April 17th.

Question #1: You are about to start a business (you pick the type of business). Spend a sentence or two describing the business. (For example, and by way of example only: Say you want to open a pizza shop restaurant or start an apparel manufacturing business. But these are examples only; please select another business that YOU would want to start.) Based on the above, and using the materials covered in this class only, describe:

a) The best form of business organization (e.g., sole proprietorship, partnership, LLC, corporation, etc.) you would select for your business and why. In discussing “why”, please be sure and describe the basis for your selection including the pros and cons over all other available alternatives.

Question #2: Several of the officers at Enron breached their fiduciary duties to the corporation. Identify some of the officers (by name) who breached these fiduciary duties and explain specifically what actions (or inactions) these officers took that are evidence of such breaches. Provide examples and be specific.