Unlimited liability Study guides, Revision notes & Summaries

Sole Proprietorship Correct Answer-• Easy, quick, simple and affordable • Full control with minimal administration • Adaptable • The Challenges: • Risk and personal exposure (personal liability) • Credibility - only as good as yours • Raising additional capital Mutual Agency Correct Answer-the right of all partners in a partnership to act as agents for the normal business operations of the partnership, with the authority to bind it to business agreements. Types of Partnership...

Sole Proprietorship Correct Answer-Single Owner and Manager Sole Proprietorship Advantages Correct Answer-• Inexpensive and simple to set up • Little to no regulation or reporting requirements • Single taxation-Business income treated like regular income Sole Proprietorship Disadvantages Correct Answer-• Unlimited Personal Liability • Difficult to transfer ownership • Limited access to capital Partnership Correct Answer-Owned and managed by two or more people -Partners...

mie 201 exam 2 questions and answers 100% pass Advantages of operating a Sole Proprietorship? - Correct Answer ️️ -simplicity (easy to establish and less paperwork-only requirement is business licenses and permit) single layer of taxation!!! privacy (not required to report anything to anyone) flexibility and control fewer limitations on personal income Personal satisfaction (take your own risks and enjoy the reward) Disadvantages of sole proprietorship - Correct Answer ️️ -financ...

THE BUSINESS MANAGEMENT + ADMINISTRATION CAREER CLUSTER EXAM DECA WITH COMPLETE SOLUTIONSTHE BUSINESS MANAGEMENT + ADMINISTRATION CAREER CLUSTER EXAM DECA WITH COMPLETE SOLUTIONSTHE BUSINESS MANAGEMENT + ADMINISTRATION CAREER CLUSTER EXAM DECA WITH COMPLETE SOLUTIONS Limited liability is a characteristic of what form of business ownership? A. Sole proprietorship B. Joint proprietorship C. Partnership D. Corporation - ANSWER-D Corporation. Stockholders in corporations have limited liabi...

ACA Final Exam questions and answers well elaborated At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters Set rates and writ...

3 types of business ownership - Answer-- sole propreitorship - partnership - corporation sole proprietorships - Answer-- businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages - Answer-- simplicity - single layer of taxation - taxed at individual rates - privacy - flexibility and control - personal satisfa...

sole proprietorship Correct Answer-a business owned (and usually managed) by one person. (most common). unlimited liability partnership Correct Answer-2 or more people legally agree to become co-owners corporation Correct Answer-a legal entity with authority to act and have liability apart from its owners general partnership Correct Answer-all owners share in operating the business and in assuming liability for the business's debts limited partnership Correct Answer-has one or more ...

BA 101 Midterm 3 University of Oregon Latest Update Graded A+ sole properietorship Easy, quick, simple and affordable, Full control with minimal administration, Adaptable The Challenges: Risk and personal exposure, Credibility - only as good as yours, Raising additional capital partnership Voluntary association Unlimited liability Mutual agency - (one bad apple) Limited life Limited access to $ Partners keep control Relatively unregulated Single taxation coporation Separate...

Advantages of operating a Sole Proprietorship? - Answer-simplicity (easy to establish and less paperwork-only requirement is business licenses and permit) single layer of taxation!!! privacy (not required to report anything to anyone) flexibility and control fewer limitations on personal income Personal satisfaction (take your own risks and enjoy the reward) Disadvantages of sole proprietorship - Answer-financial liability (unlimited liability) demands of the owner (alot more than pickin...

MIE 201 Exam 2: Chapters 4, 5, 8 Makanui NCSU Questions and Answers 100% Pass 3 types of business ownership - Correct Answer ️️ -- sole propreitorship - partnership - corporation sole proprietorships - Correct Answer ️️ -- businesses owned by one individual - the most common form of business organization in the United States - easiest and least expensive form of business to start - ex: tutoring/bookkeeping/landscaping etc... sole proprietorship advantages - Correct Answer ️️...