Entrepreneurs have four different options when starting a business‚ which include a sole proprietorship‚ Partnership‚ limited liability company‚ and also a corporation. Each form has its advantages and also disadvantages depending on what the type of business is‚ and also what service it provides. Sole Proprietorship Sole Proprietorships are the simplest form of a business and the most common in the USA. The sole proprietor is the one who does the work‚ basically they are the business. Just like
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Master Barber will have to pay booth rent in the amount of 350.00 dollars a month. By charging our stylist and barbers booth rent Shear Perfection Unisex Salon will have guaranteed income on a monthly bases of 3‚500. Shear Perfection Unisex Salon is a Sole
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the market structure would be a sole proprietorship. As a sole proprietor you determine policies and also the decision making‚ assume expenses‚ receive profits‚ and bear all losses. You make my own rules and responsible to meet all duties and obligations of running the business. Sole proprietorship is the oldest and most common type of business firm in the United States. Most are small and account for only 7% of all business receipts. More common and known as sole proprietors are car repair shops
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CHAPTER 1 AN OVERVIEW OF FINANCIAL MANAGEMENT Forms of business organization Answer: c [i]. Which of the following could explain why a business might choose to organize as a corporation rather than as a sole proprietorship or a partnership? a. Corporations generally face fewer regulations. b. Corporations generally face lower taxes. c. Corporations generally find it easier to raise capital. d. Corporations enjoy unlimited liability. e. Statements
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that the business owner may encounter” (Forms of Business Organization 4) Business in the Unites States can be organized in one of three basic legal forms: sole proprietorship‚ partnership‚ and corporation; each one has its own advantages and disadvantage which help owners understand the unique problems facing in his business prospects. First‚ sole proprietorship is a business owned by one
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that Sonic would have grown as large as it did today if it had remained a sole proprietorship? No they wouldn’t have lasted if they stayed as a Sole Proprietorship why or why not? The way Sonic has expanded it would have too much for a single owner to open up 3000 sonic stores to date. What were the advantages and disadvantages to Sonic of each form of business ownership? The advantage of the owner of Sonic been a Sole Proprietor would have been‚ being your own boss‚ having the creativity freedom
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Bus-101 Kevin Lentz 06/2013 Chapter 1 Rooftop Restaurant and Lounge will enter into a market with perfect competition. With perfect competition Rooftop Restaurant and Lounge will have an infinite number of consumers with the willingness and ability to buy our products at a certain price. It would also have an infinite amount of producers with the willingness and ability to supply the products at a certain price. Rooftop Restaurant and Lounge is a new fine dining restaurant and lounge
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Apollo Villapando Villapando 1 Business 166 Leah Peer 04/04/18 Test #2 1. A) Sole Proprietorship- A business organization in which one person owns and‚ often‚ operates business. General Partnership- A business organization in which two or more owners agree to share the profits of the business but are also jointly and severally liable for its debts. Limited Partnership- A business organization
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I. Cyber Edz Internet Café Profile A. History An Internet café serves up a bank of computers with high-speed Internet access for public consumption. The customer gets charged by the minute or the hour‚ or might purchase a monthly pass. The Internet café might also serve food and beverages‚ but this isn’t always the case. One breed of Internet café that persists to a lesser degree is geared towards multi-player gaming‚ but generally cafés were intended for surfing the Net. That could mean collecting
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of the company‚ centralized and decentralized operations. This essay will describe that Zia Inc. is as private limited company‚ has centralized operations and has a flat hierarchal structure. Zia Inc. is a private limited company and is run by a sole proprietor‚ this company is a recycling company‚ which is recycling the used plastic bottles and thus encounters to be in the secondary sector of manufacturing goods. The company has thirty full-time employees‚ and is operating in Jebel Ali‚ Dubai
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