GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How much liability protection do I need? How will taxes and the form of business ownership affect me
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Do I need start up capital?
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How will taxes and the form of business ownership affect me?
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How much time will operating a business require?
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Detailed explanation-1: -FACTORS TO CONSIDER WHEN CHOOSING A BUSINESS OWNERSHIP MODEL These are: Legal requirements for establishing a business and complying with regulations e.g. tax requirements. The expected ability of the enterprise to exist independently of its owners.
Detailed explanation-2: -The three basic forms of business organization that exist in the economy are the sole proprietorship, partnership, and corporation.
Detailed explanation-3: -The factors: 1. Liability of Owners 2. Life of Organization 3. Transferability of Ownership 4.
Detailed explanation-4: -Partnership, owned by two or more people. Limited liability company (LLC), owned by one or more members. Corporation, owned by one or more people. S corporation, owned by one or more people.