PART A Business Forms of Organization SOLE PROPRIETORSHIP: A sole proprietorship business is owned by a single individual and is not legally differentiated from the owner. It is the simplest form of business as there is less paperwork and it is subject to fewer regulations and restrictions. It is not usually required to register as a business unless it operates under a fictitious name or provides supplies or services that require licensing. The owner has complete autonomy for all business
Words: 2516 - Pages: 11
Small Business Idea Tina Sergio ACC/561 Week 1 February 5, 2013 Bobby Bates Small businesses and entrepreneurs form the backbone of the U.S. economy. Since early America, entrepreneurs have generated ideas that create opportunities so other people were able to begin their own company, and, it is likely that new entrepreneurs will continue to
Words: 1630 - Pages: 7
Legal Forms of Business Legal Forms of Business Entrepreneurs face a difficult decision in choosing a legal form of business. The preferred form of entity is dependent on many relative factors, such as the type of organization and business environment. Different forms of legal businesses have different tax, investment, and financial implications. The best-suited business calls for a thorough analysis of pertinent facts before making a decision – requiring some careful planning and strategy
Words: 1429 - Pages: 6
Forms of Business When considering the preferred legal form of business, it comes down to the level of liability, the size of the business and the number of owners or shareholders that will be involved. It is important to consider that with the increased size of a business and the increase in the number of owners, the decision-making process becomes more complex. The level of liability for the owners decreases as the owners no longer are liable for the losses and gains of the business within larger
Words: 2170 - Pages: 9
Forms of Business Organizations AIU Online FINA310 Unit 1 DB Charlotte Taylor 06.09.13 Within the business world there are numerous forms of businesses global and domestic. Therefore, choosing the right form of ownership can be hectic. Although, there are numerous choices to make I hope to make the decision less hectic by discussing some advantages and disadvantages of three of the most common forms that may be right and profitable for the business. The three legal forms are: (sole) proprietorships
Words: 716 - Pages: 3
Forms of Business When beginning a business venture, the first and most important decision made by the owner is to review the forms of business options and determine which one would be suitable for the organization of their company. There are seven forms of business that will be discussed and different scenarios that will be developed in which each of these forms of business would be the preferred form. The seven forms of business are sole proprietorship, partnership, limited liability partnership
Words: 1782 - Pages: 8
operate the business. The operation of the business can be significantly affected if the owner becomes sick or dies. 4. Control owners have complete control of the business. The owner is totally responsible for all decisions pertaining for business operations. 5. Profit retention Owner have 100% profit retention. They may choose to invest it back into the company or use it for personal use. 6. Location The owner has the ability to choose the location of the business or move it
Words: 1229 - Pages: 5
Forms Of Business Susan Greene American Intercontinental University Busn 105 5/4/13 Legal Forms Of Business Susan Greene American Intercontinental University Abstract The main purpose of writing this document is to explain all of the legal forms of business and to also explain the three different organizations that there are in a company and all of the similarities and differences that are in each organization. Being an inventor the first order of business is that
Words: 579 - Pages: 3
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
Words: 1631 - Pages: 7
ASSIGNMENT #2 – FAMILY RELATED ISSUES LEGAL 500 Explain if it matters that a parent literally had nothing to do with a biological child in order for the child to take advantage of the Family and Medical Leave Act (FMLA) to care for that parent. The Family and Medical Leave Act (FMLA) provides an entitlement of up to 12 weeks of job-protected, unpaid leave during any 12-month period to eligible, covered employees for the following reasons: 1) birth and care of the eligible employee's child
Words: 2301 - Pages: 10
