BUISENESS MANAGEMENT
BUSINESS STRUCTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Personal circumstances, type of business, and product mix
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Product versatility, financial needs, and advertising strategies
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Personal circumstances, financial needs, and type of business
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Product versatility, advertising strategies, and personal circumstances
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Detailed explanation-1: -One of the first issues you should consider is how many owners your business will have, and how involved each of the owners will be in the day-to-day management of the company. If you own the business by yourself, you can operate a sole proprietorship, a single-member LLC, or a corporation.
Detailed explanation-2: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state statute.
Detailed explanation-3: -Your business structure affects how much you pay in taxes, your ability to raise money, the paperwork you need to file, and your personal liability. You’ll need to choose a business structure before you register your business with the state.