There are many different make fors of cable in todays society. One of the most valuable decisions an entrepreneur must make is deciding what oddball of stage ad hominem credit line he or she complimentss to open. The entrepreneur needs to look at what liability and risks may the ancestry encounter in the future. This root will be discussing seven different forms of business organizationes such as; resole proprietorship, partnership, Limited Liability Partnership, Limited Liability Company, S corporation, franchise, and corporate with a scenario simulation for each form of business.
doctor Proprietorship
The first form of business we will discuss is the sole proprietorship. A sole proprietorship form of business self-possession is one of the most popular and most frequently business forms. It can be simply defined as a single psyche who owns the business. ). A sole proprietorship is the simplest form of business (Cheeseman, p.530). In a sole proprietorship, the person that who operates the business assumes totally tax penalties which include all liabilities, debts, profits, and losses. Some advantages for this business form are; being the single decision maker, receiving all of the profits from the business and lower start-up cost (inexpensive to create and operate) and the owner reports profit or loss on his or her personal tax return.
Disadvantages of sole proprietorship are; the owner is in person responsible for debt, obligations and even liabilities committed by employee or investors.
A scenario of a sole proprietorship would be a person opening a small neighborhood candy repositing. This store would not be part of a chain. It can be managed by a single individual. The business form of a sole proprietorship would be best suited for this type of business because it is a great form of business for individual who has a small amount of money to invest in the company and to manage the business with one employee.
Partnership
It is just akin a sole proprietorship, except there is more than one...If you want to get a full essay, order it on our website: Ordercustompaper.com
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