BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are two or more owners, the partners share in the costs, decisions, and responsibility.
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Money is easily raised by shareholders although most decisions are made by the board of directors.
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Run like a partnership and a corporation limited the responsibility of the partners
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One owner who makes all of the business decisions
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Detailed explanation-1: -Limited liability companies additionally benefit from the advantages of corporations. The largest benefit is the company’s limited liability status. The company exists as its own legal entity. This protects members and owners from being held personally liable for the operations and debts of the business.
Detailed explanation-2: -LLP protection The huge advantage of forming an LLP is that it gives liability protection to individuals within the group as it is a separate legal entity. That means that individual members are liable only for the amount that they put into the business and assets like their own property are not at risk.
Detailed explanation-3: -Corporations–being entities in their own right–are taxed, and the profits are passed to owners who are then also taxed on them. Partnerships avoid the double taxation issue. Additionally, in corporations and often in LLCs, losses are not passed through to the owners.