topic n practice cob200

topic n practice cob200 - A Aledreessi College of Business...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
A. Aledreessi College of Business Ypsilanti, MI 48197 COB200: T.I.P. # 5.1 Memo T o: COB200Class From: A. Aledreessi Fax: NA Pages: 2 Student ID: E00679959 Date: 5/7/2009 Re: Topic in Practice subject : Business Ownership RE: The three basic forms of business ownership: 1. Sole Proprietorship. 2. Partnership. 3. Corporations. A) Sole Proprietorship : Business that is owned and usually managed by one person. Adv’s: 1. Ease of starting and ending the business. (Start and end the business whenever you want) 2. Being your own boss. (No one is yelling up your head, you set the rules) 3. Pride of ownership. (Always proud of your business) 4. Leaving a legacy. (What you leave behind for next generation’s) 5. Retention of company profit. (Pleasure of knowing that you earn as much as you can with no sharing) 6. No special Taxes. (Pays the normal income) Disadv’s: 1. Unlimited liability. (You take the losses so it’s personal) 2. Limited financial sources (because probably you are the only source for money)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 3

topic n practice cob200 - A Aledreessi College of Business...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online