Macro #1 - I think sole proprietorships and partnerships...

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I think sole proprietorships and partnerships become a corporation when they experience rapid and sizable increases in their production, sales, and profits for a number of reasons. A soleproprietorship is a businesses owned and operated by one person. In a proprietorship, the proprietor is usually the only person who supervises the company. On the other hand, a partnership is two or more individuals that agree to own and operate a business together. A corporation is defined as a legal creation that can acquire resources, own assets, produce and sell products, incur debts, extend credits, sue and be sued, and perform the function of any other typeof a business. Under a corporation, they can sell stocks to raise funds, but it is separate from the company’s individual stocker holders.Once you become a corporation, there are numerous advantages and disadvantages. A legal business structure establishes a company as a legitimate and financially sound organization,

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Term
Summer
Professor
BATTISTA
Tags
Business, Corporation, legal business structure, individual stocker holders, financially sound organization, business tax deductions

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