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cookie cronicle - Chapter 1 a We recommend that Natalie...

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Chapter 1 a. We recommend that Natalie have a proprietorship because it is simple to establish, control it all herself, she gets all the profits and she will have tax advantages. But on the other hand she assumes all the risk, may not have the resources or capital, and doesn’t have another person’s skills and resources. Another form of business is partnership where the benefits are simply to establish, share control, broader skills and resources, and tax advantages. But the weaknesses are the risk and amount of resources. The third kind of business organization is a corporation and the benefits of this are easier to transfer owner, no personal liability, and the amount of time is less. The weaknesses are that there are no tax advantages and you can’t get much of a raise. b. Yes Natalie will need accounting information. She will need to know how to plan, organize, and run business operations. She will have to use this information everyday her business is in operation.
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