Accounting Group Assignment.docx - Hello everyone My name is Taylor.and the other three guys are Hugh Chao and Jason They are my team members Today I

Accounting Group Assignment.docx - Hello everyone My name...

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Hello, everyone. My name is Taylor.and the other three guys are Hugh, Chao and Jason. They are my team members. Today, I want to talk about a plan for Ashley, Mark and Phil. They have a plan that they want to start an online retail business, since they want to make a huge profit over the next five years. Now, I want to introduce the business entities. There are three business entities including sole tradership, partnership and company. Firstly, Sole tradership mean just one owners and it is useless to this case. Secondly, the partnership mean more than one owner, Jason will talk about the disadvantage of partnership. Thirdly, there are two kinds of company, private company and public company. I make a suggestion after discussing with my team members that the three guys should start a private company. Because the advantages of a private company are the large amounts of capital may be raised and a private company has limited liability. A Private company is less risk than partnership since the business entity of partnership is an unlimited liability. That
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  • '18
  • Corporation, Types of business entity, partner

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