Discussion Questions week 4 - Question 1 Discussion...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1 Discussion Questions Judith Crooks University of Phoenix
Background image of page 1

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

View Full DocumentRight Arrow Icon
Question 2 1. Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years. Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed. Effective Idea The main advantage for Elaine and Roy to incorporate is the limited liability of the corporate company, especially since it is a home healthcare business. If they were sued by a family that was unhappy with the service, charged with medical malpractice, or many other things that could happen while dealing with healthcare, they could lose their personal assets. Sole proprietorship would not be a good idea for Elaine and Roy because the business owner assumes all the liability of the company. If you are sole proprietor, your personal assets could be seized to pay debts to your business. After the sole proprietor of the business dies, the business will go under.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/26/2010 for the course BUSINESS M 098883 taught by Professor Zimmerman during the Spring '10 term at University of Phoenix.

Page1 / 5

Discussion Questions week 4 - Question 1 Discussion...

This preview shows document pages 1 - 3. Sign up to view the full document.

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