Business Management questions and answers

1. Identify the advantages and disadvantages of sole proprietorship, leagues, and corporations. (include lettuce, liability, etc.)The advantages of a sole proprietorship ar they be owned by one person, decisions stern be made quickly, and they make all the profit for themselves; disadvantages ar when a caller comes into debt, the owner is li competent for those be on their own, and somewhat other disadvantage is the owner whitethorn non be able to do all of the work in their business. The advantages of a union is there ar two people with divergent casualness?s that can be put together for a successful business, another advantage is they have greater carbohydrate together and it?s easy to organize business ideas. Disadvantages of unions are if a fraternity goes into debt lonesome(prenominal) one partner may be charged with the money needed, also, if a partner is no thirster there, it is a great problem for the left partner. In partnerships, the pay have to be shared. The advantages of a corporation are if the company falls into debt, the owner is not liable for the costs; the company?s life is continuous even if the owner isn?t there anymore. The disadvantages are they have a scatter tax income pay for being a corporation, forming the corporation itself can be very expensive, and employees feeling like they are not in reality part of the company but just back up the owner. 2. List two different types of partnerships and describe each. The two different types of partnerships are general partnership and limited partnership. General partnership is when the partners share everything evenly. They are both responsible for what happens to the company with salary and liability. Limited partnership is when a general partner accepts the large-mouthed unlimited liability while the limited partner lonesome(prenominal) is responsible for the investment they put into... If you want to get a full essay, o rder it on our website: OrderCustomPaper.com

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