MIE 310 EXAM 4 LATEST 2026 SPRING 100% VERIFIED NCSU EXAM ALREADY GRADED A+

MIE 310 EXAM 4 LATEST 2026 SPRING 100%
VERIFIED NCSU EXAM ALREADY GRADED A+
Limited liability

owners are protected from legal and financial obligations



partnership

two or more individuals



general partnership

unlimited liability



limited partnership

one general partner, one or more limited partners



joint venture

temporary partnership, share risks/ rewards



Sole Proprietorship (SP)

unlimited liability, no mandatory registration/filing



what is more than any other business entity in the US?

Sole Proprietorship

, DBA

doing business as



LLC (Limited Liability Company)

Easier to form than corporations,
members have limited liability



LLC funds

Do not commingle funds or you
may forego limited liability



easiest way to start a business

1.Apply for an EIN
2.Open a bank account
3.Submit Articles of Organization LLC



corporation

- separate legal entity from the owners

- Same rights as an individual
(sue and be sued, own property, enter into contracts, etc.)

- Limited liability

- C - double taxation - company & personal
S - personal taxes paid on business profits
B - social & environmental standards