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 association comes into debt, the owner is li up to(p) 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 conglutination is there argon two people with divergent intimacy?s that can be put together for a successful business, another advantage is they have greater net income together and it?s easy to organize business ideas. Disadvantages of fusions are if a attach to goes into debt lonesome(prenominal) one partner may be charged with the money needed, also, if a partner is no endless there, it is a great problem for the left partner. In partnerships, the moola h 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 impose pay for being a corporation, forming the corporation itself can be very expensive, and employees feeling like they are not very part of the company but just back up the owner. 2.
List two antithetical types of partnerships and describe each. The two different types of partnerships are general partnership and limited partnership. General partnership is when the partner s share everything evenly. They are both res! ponsible for what happens to the company with moolah and liability. Limited partnership is when a general partner accepts the thumping unlimited liability while the limited partner whole is responsible for the investment they put into... If you want to get a full essay, order it on our website:
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