Four Forms of Business Organization 2
Acc/561 Week 2 Assignment Instructor: Mark Student: G Toe Washington November 14, 2011
Abstract This is an analysis of the four different forms of business organization. It is a review of the advantages and disadvantages of each form, including the tax, legal, and, accounting implications that surround them. The different type of financial statements associated with each form of business organization is also discussed. In this paper, based upon the synopsis that the government has released funds for creating small businesses, a form of business is chosen by the class member in explaining his business idea. It then concludes with why that particular form of business was selected.
Introduction There are four types of business organizations that relate with the various businesses and their range in size and functions. The owners or partners establishing a company might share tax or legal liability with the business entity depending on how the business is formed. When one is tasked with starting a business, various options must be considered regarding what form of business organization is best suited to the operational plan of the perceived business and to what degree of liability one wish to assume. It is with this notion that I evaluated the four forms of business organization and hence made a choice that best suit my business aspiration. Below is an analysis of the various forms of business. Sole Proprietorship This is
Abstract This is an analysis of the four different forms of business organization. It is a review of the advantages and disadvantages of each form, including the tax, legal, and, accounting implications that surround them. The different type of financial statements associated with each form of business organization is also discussed. In this paper, based upon the synopsis that the government has released funds for creating small businesses, a form of business is chosen by the class member in explaining his business idea. It then concludes with why that particular form of business was selected.
Introduction There are four types of business organizations that relate with the various businesses and their range in size and functions. The owners or partners establishing a company might share tax or legal liability with the business entity depending on how the business is formed. When one is tasked with starting a business, various options must be considered regarding what form of business organization is best suited to the operational plan of the perceived business and to what degree of liability one wish to assume. It is with this notion that I evaluated the four forms of business organization and hence made a choice that best suit my business aspiration. Below is an analysis of the various forms of business. Sole Proprietorship This is
References: Arielae, C, 2009, Advantages and Disadvantages, Retrieved on November 11, 2011 from http://wwwbukisa.com/articles/168924-forms-of-business-organization-advantages-and- Carr, L, 2011, Different Forms of Business Organizations, Retrieved on November 11, 2011 from http://www.ehow.com/info-7756457-different-forms-business-organizations.html Murray, J, 2011, Legal Forms of Business Organization, Retrieved on November 11, 2011, from http://biztaxlaw.about.com/od/businessorganizationsforms/a/legalbizforms.htm Schwab, C, 2011, Types of Business Organization, Retrieved on November 11, 2011, from http://taxes.about.com/od/taxplanning/a/incorporating-2.htm