The cost to start sole proprietorship, partnership , corporations and franchise; hours of work of these businesses and specific benefits attached with it. Introduction: When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise. Chartered legal entity that has separate liabilities from the owner and authority to act is known as corporations. When several people pool their resources to work together and have mutual interest and gains and such business is owned and operated by the user of the business, it is known as cooperative. When the business is managed and owned by a person single handedly, it is known as sole proprietorship.

Question

Want to see the full answer?

Answer 1

Question

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

Chapter 5, Problem 1DCS

Summary Introduction

To discuss: The cost to start sole proprietorship, partnership, corporations and franchise; hours of work of these businesses and specific benefits attached with it.

Introduction:

When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise. Chartered legal entity that has separate liabilities from the owner and authority to act is known as corporations.

When several people pool their resources to work together and have mutual interest and gains and such business is owned and operated by the user of the business, it is known as cooperative.

When the business is managed and owned by a person single handedly, it is known as sole proprietorship.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

You love building and fine-tuning businesssystems in order to figure out the best ways to createand deliver products, solve customer problems, and soon. After 10 years in a corporate job, you’re ready toapply this passion to your own company. You’reintrigued by the systematic approaches the world’s mostsuccessful franchising operations use to multiply theirmarket reach. Would buying a franchise be a goodchoice for you? Why or why not?

You are about to finish the business degree in near future. There are different options afterwards, most of the students seek job opportunities, and many of the students decide to manage their family businesses. In recent times, entrepreneurship studies got much interest among young graduates and people tend to establish independent units. If you choose to become an entrepreneur, why would you choose to be? In case you choose not to become an entrepreneur, what would be the reason? Also prepare your own SWOT analysis.

Make a business plan and show it. Tell us about the type of company you're offering and why you're presenting it. some of the difficulties you'll face or citations

Answer 2

Question

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

Chapter 5, Problem 1DCS

Summary Introduction

To discuss: The cost to start sole proprietorship, partnership, corporations and franchise; hours of work of these businesses and specific benefits attached with it.

Introduction:

When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise. Chartered legal entity that has separate liabilities from the owner and authority to act is known as corporations.

When several people pool their resources to work together and have mutual interest and gains and such business is owned and operated by the user of the business, it is known as cooperative.

When the business is managed and owned by a person single handedly, it is known as sole proprietorship.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

Chapter 5, Problem 1DCS

Summary Introduction

To discuss: The cost to start sole proprietorship, partnership, corporations and franchise; hours of work of these businesses and specific benefits attached with it.

Introduction:

When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise. Chartered legal entity that has separate liabilities from the owner and authority to act is known as corporations.

When several people pool their resources to work together and have mutual interest and gains and such business is owned and operated by the user of the business, it is known as cooperative.

When the business is managed and owned by a person single handedly, it is known as sole proprietorship.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

Chapter 5, Problem 1DCS

Summary Introduction