Based on the advantages and disadvantages of each of the following forms of businesses, give anexample of a business that would be best suited to that particular form. Be sure to explain why that isthe best option for the particular business.Must be in 3-5 sentences explaining why it is the best option.(1) Sole proprietorship(2) Limited partnership(3) Corporation(4) Limited Liability Company

When commencing a business, deciding the legal structure is one of the most important practical…

Answered: Based on the advantages and…

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter4: Choosing A Form Of Business Ownership

Section: Chapter Questions

Problem 6DQ

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Similar questions

What would be the impact of continuous conflict and differences in opinions among owners in a business? a. Business might not continue b. Business might have more branches c. Business might merge with another company d. Business might become diversified
No plagiarism Please! 8. Explain the characteristics of sole proprietorships, analyze the advantages and disadvantages of organizing a business as a sole proprietorship, Explain the characteristics of partnerships analyze the advantages and disadvantages of partnerships. Compare and contrast the three forms of business organization.
Compare and contrast the various types of business ownership and the advantages/disadvantages of each. TWO paragraphs.
Define the following types of organizations and give an example of each. Also, how are profits taxed in each organization? Sole proprietorship Partnership LLC S-Corporation C-Corporation Which of the above organizations do you think would be the best for a start-up? Why?
Mr. Imran and Mr. Salim are business partners. They often argue and disagree with each other when it comes to handling their business. Continuous conflict and differences in opinions among owners in a business could lead to which of the following? Business might become diversified Business might merge with another company Business might not continue Business might have more profits
Given is a doctor who is forming her own medical practice. She wants her practice to be flexible , simple to run , and free from required meetings , minutes or resolutions . Her goal is to blend the best characteristics of corporations , partnerships and sole proprietorships . What form of business ownership seems most in-line with Gwen’s goals ? A)C corporation B)cooperative C)joint venture D)limited liability company E)S corporation
During the startup phase of a company, business and ownership are a. Managed by the same investors b. overlapping: managers and owners at the beginning are the same c. Managed by two different individuals d. Independent
Why would someone put up a sole proprietorship? A)All options are correct B)To take control of all the aspects of the business C)To enjoy all profits that can be made from the business D)To make all decisions regarding the business
Which of the following types of business entities involves the least amount of time and money to establish? a) Corporation b) Conglomerate c) Partnership d) Sole Proprietorship
Juan wants to be involved in business. He has plenty of capital to invest, but he does not want to be involved in management. He also does not want to worry about fluctuations in the market prices of debt and equity instruments. Which form of business would be best for Juan? A. General partnership B. Sole proprietorship C. LLC D. Corporation
Note the quotation from the extract below and discuss the various methods of generating ideas entrepreneurs who have closed their start up can utilise to "Bounce back" using your OWNexample to support you discussion. “The pain of closing a business can overwhelm founders, whose identity is intertwined with that of their venture. Failedfounders wonder what they’ll do next—are they employable? Adding to their worries, their personal finances may be inshambles. Most entrepreneurs cut their own salaries as their venture goes into decline, and many have invested theirlife savings in the startup—along with funds from friends and family.
Mo. Outcomes: Discuss the issues that entrepreneurs should consider when evaluating different forms of ownership. Describe the advantages and disadvantages of the sole proprietorship, partnerships, and corporations. Describe the features of the S corporation and the limited liability company. Discuss the alternative options for corporate forms, both for-profit and non-profit, available to social entrepreneurs. 2.2 Action Required: Watch the short video at the following link https://www.youtube.com/watch?v=0k8ljlnBAQIT News) - YouTube 2.3 Test your Knowledge (Question): What is a sole proprietorship? What drawbacks should be considered? 2.4 Instructions Answer the question available in the “Test your Knowledge” section. Post your answer in the discussion board using the discussion link below

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