6 - DISAVANAGE) Smaller amount of efficiency Limited access...

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

View Full Document Right Arrow Icon
06/02/2008 15:54:00 Business 2/6 Exam- essay, short answer, ID and significance…re-read all the cases.  Business Forms Sole propiertorship Partnership Corporations ‘c’ corp. ‘s’ corp. llc Key trade offs Liability Control Tax treatment Sole proprietorship is a business owned and operated by one individual Advantages Sole control Keep all the profits and allocate them as you wish Secrecy – you don’t have to file any public documents. No one knows how much  money you are bringing in.  Government regulation- less laws holding you back because they only deal with  larger companies Easy to close the business Distribution of profits- Disadvantage All the responsibility, no one is an expert in all areas, marketing, finance etc. (KEY 
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: DISAVANAGE) Smaller amount of efficiency Limited access to capital/credityou are relying on your personal accets to get loans form banks your house might taken away if you dont succeed If you die the company dies with you. Hard to exit your profession Partnership is an association of two of more persons who carrt on as co-owners of a business profit. General partnership-Limited partnership Joint venture A partnership established for a specific project of a limited time. Partnership advantages- Ease of organization S corporations- most popular form of coprporation...
View Full Document

This note was uploaded on 09/30/2009 for the course BCOR 1010 taught by Professor Latier,jef during the Spring '07 term at Colorado.

Page1 / 2

6 - DISAVANAGE) Smaller amount of efficiency Limited access...

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