ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An entrepreneur can choose to have which type of business organization?
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Sole Proprietorship
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Partnership
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Corporation
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All of the above
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Explanation:
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.
Detailed explanation-2: -Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures. Corporations also require more extensive record-keeping, operational processes, and reporting.
Detailed explanation-3: -Sole Proprietorship. General Partnership. Limited Liability Company (LLC) Corporations (C-Corp and S-Corp)
Detailed explanation-4: -Partnership. Corporation. Sole proprietorship. Cooperative. Limited liability company. 17-Apr-2020
There is 1 question to complete.