Forms of Business(2)

Forms of Business(2) - Introduction to Forms of Business...

Info iconThis preview shows pages 1–11. Sign up to view the full content.

View Full Document Right Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

View Full DocumentRight Arrow Icon

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

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

Unformatted text preview: Introduction to Forms of Business Organizations Introduction to Forms of Business Organizations P a r t n e r s h i p S o le P r o p r ie t o r s h ip C o r p o r a t i o n Forms of Business Organization Forms of Business Organization Why do we Why do we need to know need to know about the about the features of features of these these different different forms of a forms of a business? business? C o r p o r a t i o n Partnership Sole Proprietorship Small Busine ss Sole Proprietorshi ps Partnerships Corporations Franchising Co-operatives A. A franchisee has no personal risk. B. A proprietor is financially liable, unlike a partner or a shareholder. C. A shareholder, who is also a director, has personal liability. D. A partner is liable up to their share of the partnership. Please use the clicker to answer the following question: Please use the clicker to answer the following question: As the owner of a business, which statement is most As the owner of a business, which statement is most correct about personal financial risk correct about personal financial risk ? ? Proprietorshi p Partnership Corporation Personal liability insurance Two people liability Owner, director What are the personal financial risks of each form of business? Small Busine ss Sole Proprietorsh ip Partnership s Corporation s Franchising Co- operatives = 85% = 85% = 15% = 15% Sole Proprietorship Sole Proprietorship = Consulting Business Records Advise Marker Author A. A proprietorship can not have any employees, only a corporation can. B. Profits from a proprietorship are not subject to income tax. C. A proprietorship can not be sold, if the owner retires, the business is wound up. D. No loans can be made to a proprietorship....
View Full Document

This note was uploaded on 12/02/2010 for the course AFM 20220098 taught by Professor Sproule during the Fall '09 term at Waterloo.

Page1 / 38

Forms of Business(2) - Introduction to Forms of Business...

This preview shows document pages 1 - 11. Sign up to view the full document.

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