Answer: • Sole proprietorship: A sole proprietorship is a business owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business. • Partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership. There are
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options in the type of business structure to use. The different types of business structures are the sole proprietorship structure‚ the partnership structure‚ the corporation structure‚ the S corporation structure‚ and the limited liability company structure. Each structure has advantages and disadvantages and possible tax consequences. The sole proprietorship structure is individually owned and operated. The sole proprietorship structure is the least regulated and is the easiest type of business
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its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned‚ not-for-profit or state-owned. Business also can have a number of different types of owner depending on the aims and objectives of the owners. There are different types of Business organization. The main types of Business organization are as follows. 1) Sole proprietor - Most small business started out a sole proprietor. There are usually owned by one person. (An individual who has day-to-day
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proprietorships and general partnerships Corporations Questions 100% 1 2 3 100% 4 5 6 100% 7 8 9 100% 10 11 12 100% 13 14 15 100% 16 17 18 Limited partnerships and special partnerships Score: 18 / 18 Limited liability companies and limited liability partnerships Franchising‚ licensing‚ and joint ventures Alternative forms of dispute resolution Concept: Sole proprietorships and general partnerships Mastery 100% Questions 1 2 3 1. Identify an accurate statement about
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product 6 By process 6 By type of customer 7 Size 8 Ownership structure 9 business environment 9 M3: 10 Politics: 10 Economy: 10 Social: 10 Technological: 11 Legal: 11 Environment: 11 M1: “Explain the points of view from different stakeholders seeking to influence the strategic aims and objectives of two contrasting organisations” The two contrasting companies chosen are: The private company is schuurman schoenen‚ this is a franchise company. The franchise is taken on
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Name: Tanasha Duncan Territory: Anguilla School: Albena Lake Hodge Comprehensive School Centre #: 020001 Registration #: 0200010174 Subject: Accounting Acknowledgements………………………………………………………. 3 Introduction………………………………………………………………. 4 Methodology……………………………………………………………… 5 Module One……………………………………………………………………… 7 Aim and Objectives………………….…………………… 8 Related Literature……………….……..………………… 9 Presentation‚ Analysis and Interpretation of Data...…. 10 Conclusion………………………………………………
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Selecting A Form of Business Ownership Outline Introduction A. The Learning Goals of this chapter are to: 1. Describe the advantages and disadvantages of a sole proprietorship. 2. Describe the advantages and disadvantages of a partnership. 3. Desribe the advantages and disadvantages of a corporation. 4. Explain how the potential return and risk of a business are affected by its form of ownership. 5. Describe methods of owning existing businesses. B. One of the most important decisions
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Businesses that do not extract raw materials nor make the products themselves Ikea‚ Sainsbury’s‚ Tesco http://www.start.biz/business_names/ Introduction: In this unit‚ I will be explaining different type of business that can be found within the environment in the UK and their ownership types‚ the characteristics of the businesses that I will choose to talk about and their ownerships. I will identify businesses of contrasting field: their sizes‚ their purposes‚ and evaluate the effect of the businesses
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decide which form of organization will work best for your business and what are the pros and the cons for each of them. The basic forms of organization are the sole proprietor‚ partnership and corporations. Sole proprietorship can be the least expensive type of business structure to start because to start this all you need is a license from local or state government. They can have fewer regulations and all the profits stay with the owner. On this business the tax treatment is flow through but the tax
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Introduction: Introduction to the company‚ and what I do – Page 3 Section 1: The two types of Business’‚ their purpose and ownership Page 4 Section2: Different Stakeholders who influence the purpose Page 5/6 Section 3: Points of Views from different stakeholders Page 7/8 Section 4: Evaluation of the influences with advantages and disadvantages Page 9/10 Section 5: Section 6: Reference Page: Page 13 Introduction (P1) NBV Enterprise Solutions Ltd is a not-for-profit company founded in 1982 to support
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