BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sole proprietorship, the partnership, Market economy
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Partnership, Sole Proprietorship, Corporation Economy
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Merchandising Business, Sole proprietorship, Partnership
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The sole proprietorship, the partnership, and the corporation
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Detailed explanation-1: -Typically, there are four main types of businesses: Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations.
Detailed explanation-2: -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-3: -The sole proprietorship is the most common form of business organization. One person conducts business for him or herself. A sole proprietorship is not a legal entity. It has no life of its own separate and apart from the owner of the business.
Detailed explanation-4: -A sole-proprietorship has one owner who has unlimited liability for the business. A partnership involves two or more people who combine resources for the business and share profits and losses. A corporation is considered to be a separate legal entity from its shareholders. For tax purposes a corporation is a “Person”.