BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Sole Proprietorship Simplicity of organization-this is the most common form of business organization in the United States because it is the easiest and least expensive to establish.

Detailed explanation-2: -You’re automatically considered to be a sole proprietorship if you do business activities but don’t register as any other kind of business. 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.

Detailed explanation-3: -Limited Partnerships Defined If you do business with another person, you are by definition a partnership. This structure is a general partnership–essentially the same as a sole proprietorship–unless the partners sign legal limited liability partnership agreement.

Detailed explanation-4: -Partnerships may enjoy the advantage of having more access to operating capital. While the sole proprietor may need to rely on financing, such as bank loans, to start and sustain the operation, partners may be able to pool their resources to come up with needed funds. Sole Proprietorship vs.