BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Corporation
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Partnership
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Sole proprietorship
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None of these are correct
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Detailed explanation-1: -There are three common types of businesses-sole proprietorship, partnership, and corporation-and each comes with its own set of advantages and disadvantages. Here’s a rundown of what you need to know about each one.
Detailed explanation-2: -Sole Proprietorship Sole Proprietorships are the most common form of legal structure for small businesses. Taxation: A sole Proprietorship has pass-through taxation. The business itself does not file a tax return.
Detailed explanation-3: -There are three basic forms of business ownership: sole proprietorship, partnership and corporation. Each of these forms of business organization has advantages and disadvantages in such areas as setting up the company, paying taxes and assessing liability for business debts.