ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
GLOBALIZATION AND ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
there is an established procedure for determining the best form of ownership.
|
|
|
individual goals and needs differ, which makes each business situation unique.
|
|
|
the nature of the business and its financial needs always change over time.
|
|
|
most business owners already understand how each form of ownership works.
|
Detailed explanation-1: -Why is it important for business owners to weigh the advantages and disadvantages of each ownership option? Because the choice they make will affect taxation and government involvement. What two factors affect business ownership structures?
Detailed explanation-2: -Sole Proprietorship and its Advantages In a sole proprietorship, as the owner, you have complete control over your business. You make all important decisions and are generally responsible for all day-to-day activities. In exchange for assuming all this responsibility, you get all the income earned by the business.
Detailed explanation-3: -Because each business form has important tax and liability consequences associated with it, it is important to understand the different business form options. Three business form options include sole proprietorships, limited liability companies and corporations, among others.
Detailed explanation-4: -Advantage: Financial Rewards. Advantage: Lifestyle Independence. Advantage: Personal Satisfaction and Growth. Disadvantage: Financial Risk. Disadvantage: Stress and Health Issues. Disadvantage: Time Commitment. Try a Side Hustle.