BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An unlimited liability company involves general partners and sole proprietors who are equally responsible for all debt and liabilities accrued by the business. Most companies opt to form limited partnerships, where a partner’s liability cannot exceed their investment in the company.

Detailed explanation-2: -Sole proprietorship Sole proprietorships do not produce a separate business entity. This means your business assets and liabilities are not separate from your personal assets and liabilities. You can be held personally liable for the debts and obligations of the business.

Detailed explanation-3: -A partnership business, by definition, consists of two or more people who combine their resources to form a business and agree to share risks, profits and losses. Common partnership business examples include law firms, physician groups, real estate investment firms and accounting groups.

Detailed explanation-4: -A partnership is the relationship between two or more people to do trade or business. Each person contributes money, property, labor or skill, and shares in the profits and losses of the business. Publication 541, Partnerships, has information on how to: Form a partnership. Make partnership distributions.