convenient shares of stock, greatly like a firm excluding that stockholders are accountable for the obligations of the corporate. It is likewise a form of company or partnership among two companies. Credentials of ownership are disputes by the business in reoccurrence for each input, and the investors are free to transmission their proprietorship concern at any time by vending their stockholding to others. Here are two types of joint-stock company, the open market and the private company. The stocks are
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Part A (the report) SOLE PROPRIETORSHIP: This business entity is the most common business used in the United States. This entity is owned and ran by one individual where there is no legal distinction between the owner and the business. This legal name of the business is the owner’s name; however, the business may operate under a fictitious name by filing a DBA. This person is legally accountable for all elements of the business including finances, loans and debts. One of the advantages of doing
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World Heather Montgomery Argosy University Types of Legal Ownership Ownership Structures | Sole Proprietor | General Partnership | Limited Liability Company (LLC) | Corporation | Number of Owners | One | Two or more | One or more | Multiple | Formation Difficulty | Low | Low | Medium | Medium/High | Liability | Sole proprietor has unlimited liability. | Partners have unlimited liability. | Members aren’t typically liable for the debts of the LLC. | Officers/shareholders are not typically
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of business. Which form of ownership would you prefer? There are 3 main forms of Business organizations a) Sole Proprietorship (b) Partnership (c) Corporation a) Sole Proprietorship In a Sole Proprietorship, there is no legal distinction between the Sole Proprietor's status as an individual from his or her status as a business owner. Although sole proprietorships are common in a variety of industries, they are concentrated primarily among small businesses such as repair shops, small
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business structures are, Sole Proprietorship, Partnership, and Corporation (Parrino, R. 2012). These business types all have different governmental requirements (DeFrancesco, R. 2006). The different necessities are their tax requirements, legal issues, personal findings and concerns as well as their financial obligations (Corporate Business Structures, 2011). This paper shows the structures and overview of business. Sole Proprietorship Sole proprietorship is generally a business owned
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Multimedia activity: Business Organization If I somehow managed to begin my own business, I would run with a sole proprietor business structure. i might want to be in all out control and recognize what is happening at all times. In this sort of structure I will have the capacity to alter my mix-ups and learn. This business structure is cost affordable to me and the way that I am an author I’ve had a sole business with composing music. I 100%$ make and compose my own particular music, therefore I might want
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a1 PART A SOLE PROPRIETORSHIP A sole proprietor operations are often called mom and pop businesses. They are usually run by a single person, the owner, or run by a very small staff. • Liability: The owner is liable for all debts accrued by the business. This means creditors are entitled to recoup and debts through business and personal assets. • Income taxes: A sole proprietor files their business taxes along with their personal taxes. Typically when filing taxes the form that is files
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situation, relating to taxes, liability, and your ability to control the profits and losses of the business. Sorting out the acronyms can be tricky, but this run-down will help. 1. Sole Proprietorships A sole proprietorship is a business operated by one individual; the business is considered part of the individual, not a separate entity. The business profits and losses are included on the individual's personal tax return, and the individual retains personal liability for the business debts and lawsuits
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Sole Proprietorship: Sole Proprietorship is a very common form of small business organization. Benefits include having complete and total control as to how the business is run, marketing, hours, as well as the immediate dissolution of the business. Disadvantages range from personal liability for the business. A sole proprietor is also held responsible for all taxes for the business as personal income. Liability: A sole proprietor is held personally liable for any errors or damages caused by the
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assets and liabilities is called: A) Working capital management. B) Financial depreciation. C) Agency cost analysis. D) Capital budgeting. E) Capital structure. Answer: A Topic: SOLE PROPRIETORSHIP 6.A business owned by a single individual is called a(n): A) Corporation. B) Sole proprietorship. C) Partnership. D) Closed receivership. E) Open structure. Answer: B Topic: PARTNERSHIP 7.A business formed by two or more individuals or entities is called a(n): A) Corporation. B) Sole proprietorship. C) Partnership
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