john, robert, and charles were college friends who wanted to start a business. john has creative ability, roberts expertise is selling, and charles expertise is management. however, each has a limited capital. the ideal business ownership for these young men is a .....

BUSINESS MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

john, robert, and charles were college friends who wanted to start a business. john has creative ability, roberts expertise is selling, and charles expertise is management. however, each has a limited capital. the ideal business ownership for these young men is a ____

A	corporation
B	franchise
C	merger
D	partnership

Explanation:

Detailed explanation-1: -The “S” corporation is a private, state-chartered corporation that was developed to help small businesses by taxing them as individuals in a partnership. It is limited to 100 or fewer shareholders.

Detailed explanation-2: - Non-Profit Corporation: A corporation formed, in many cases, for charitable, educational, religious, or similar purposes, and organized and operated without the goal of making a profit. For example, the Red Cross.

Detailed explanation-3: -The primary characteristics of an LLC are flexibility in governance, tax liability similar to that of a GP, and limited liability for the members similar to that of corporations. Note: The LLC has quickly become the most popular business entity form in the United States for small businesses with more than one owner.

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GENERAL KNOWLEDGE

GK

BUSINESS MANAGEMENT