Description
Part 1
3 post at 100-150 words each
If you were creating a business, which form of business entity would be most appealing to you and why
Imagine that you created a S or C Corp, what does it mean to be on the board of a Corporation? What do directors and officers of a Corp do and what type of liability do they have?
Part 2
3 post at 100-150 words each
Imagine that a friend tells you about their idea to start a sports therapy clinic which they plan to operate as a sole proprietorship.
What benefits and risks would you advise your friend to be aware of?
Part 3
2 post at 100-150 words each
Provide citation and reference to the material(s) you discuss. Describe what you found interesting regarding this topic, and why.
Describe how you will apply that learning in your daily life, including your work life.
Describe what may be unclear to you, and what you would like to learn.
Explanation & Answer
Attached.
Running head: FORMS OF BUSINESS ENTITIES
Form of Business Entities
Name
University Affiliation
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FORMS OF BUSINESS ENTITIES
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Form of Business Entities
Part 1
1.
One of the most appealing business entity is the sole proprietorship. This form of business
entity is usually owned and managed by one person. It represents one of the common and simplest
forms of business entity. Though it has one owner it can be operate by several people. One of the
reasons why sole proprietorship is appealing to me is because it’s simplified. Unlike other forms
of business entities, a sole proprietorship does not require any registration with the state thus
making it easy to start (Petty & Mandel, 2015). Moreover, the owner has complete control of the
business and does not have to rely on the authorization of the board of directors. This, in turn,
facilitates quick decisions. Also, sole proprietorship does not involve sharing of profits. Instead,
all incomes go to the owner because this entity does not consist of stakeholders and investors who
would have demanded a share of the business profits.
2.
To be on the board of corporation simply means to have control over the corporation (Stout,
2016). Essentially, the board of directors represents the controlling body of an organization that
makes key corporate decisions including the elections of officers (Bark...
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