Sole Proprietorship The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name, The fictitious name is simply a trade name--it does not create a legal entity separate from the sole proprietor owner. Formation The simplest
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that businesses are broken down into from the legal position they are; Sole Proprietorship, Partnership and Corporation. One of the supreme mutual varieties of the new developing trivial business is Sole Proprietorship. Each aspect of my business and making of all main judgments is in my control. Each and every one of my proceeds gets approached by myself or to support production and allocate my products. In all actuality a Sole Proprietor would create a simpler way to make the great conclusions and
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product quite versatile and therefore appealing to a wide range of markets. For the person to be able to make a wise decision about how to make his project a reality we look at three types of business, the sole proprietorship, general partnership and corporation, while considering the advantages and disadvantages. After looking thoroughly at these types of businesses, we try to make an informed decision in which type to recommend for
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Basic Accounting Concepts and Business Structures Basic Accounting Concepts and Business Structures The accounting environment is constantly changing to improve so decision-making in the business world will thrive. To be successful in a business, understanding the fundamental concepts are essential to make informed decisions. The federal government formed the SEC to standardize financial information and to keep the financial environment regulated
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Apex Training Company As the sole proprietor of Apex, Martha has had the full responsibility of running all aspects of her company for the past six years. At the time of initial start up, the company was small and was easily managed by one person. Martha worked numerous hours as she developed her training company to structure a strategic plan that addressed her short and long term business goals. Martha, as the sole proprietor, did not have to share Apex’s earnings with
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for houses, driveways and sidewalks, pools, patio furniture, fences, lawn equipment, decks, and even boats. We provide all of the products for effective cleaning and customers’ happiness. III. Structure Sole Proprietorship Oh My Gosh! Power Wash is going to be a sole proprietorship, with x being the general owner and
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Marketing managers C. Human resource managers D. All of these would use finance 15. This type of business organization is relatively easy to start, and it is subject to much lighter regulatory and paperwork burden than other business forms. A. Sole proprietorship
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A Sole Proprietorships’ Project Plan Lorrie Fontanilla American Intercontinental University Nicole Anderson Harris MGMT240-1201A-04 Abstract This paper demonstrates a sole proprietorship in the service sector and its related concerns associated with it. In addition the report also provides a convenient budget. Furthermore, a definitive timeframe for the project plan, an explanation on communication and the organization’s deliverables. Effective listening and responses and effective group
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Sole Proprietorships The first and most simple form of a business is a sole proprietorship. Within this form of business structure, the owner usually owns and manages all aspects of the business. Additionally, taxes are not paid on a sole proprietorship as a company; instead the owner pays taxes off of the income that is received from the business. As in all business structures, there are both advantages and disadvantages to operating as a sole proprietor. The advantages of sole proprietorships
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Shane Wenttz Business Organization Mamma Mel’s company structure will be that of a sole proprietorship. A sole proprietorship is one of the most common and simplest company structures to form as it is a one man, or in this case, one woman operation where in the owner (me) takes on all aspects of operating the business including all associated risks and liabilities. Some of the advantages to operating as a sole proprietor include inexpensive to form with legal costs being limited to obtaining necessary
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