Complete 2 page assignment for Business Course

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Business Finance

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Open the attachment to view instructions....Right under the heading "TASK" is where the instructions begin. It needs to be a full two pages with no plagiarism!!!

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the type of business entity. Choosing the right type of business entity is critical to protecting the personal interests of the owners. STEP 1 June 25 - July 1 July 2 - July 8 ► July 9 - July 15 July 16 - July 22 July 23 - July 29 ► July 30 - August 5 Task 6 My courses ► Courses COURSE MATERIALS: Please read the following sections contained in the online textbook Boundless Business: Types of Business Ownership TASK 0 Library and Research og Resources ASSIGNMENT: Please respond to the following: Define the following types of business ownership. Sole Proprietorship Partnership Corporation Limited Liability Company Stratford University | LibGuides Library Orientation Guide Welcome ide Search For each of the types of business ownership listed in #1 above, list the pros (advantages) and cons (disadvantages). Be sure to pay close attention to liability and tax treatment for each type of business ownership. Library Orientation Guide: Idolnoma diau 3. If you were starting a new business, which of the five types of business ownership listed in #1 above would you choose? Why? Before you make a decision, review your pros/cons list for each type that you prepared in #2. To maximize your grade, be sure to provide detailed support for your choice. Requirements: Administration Course administration • Minimum Page Length - 2 full pages (excluding title/header and reference list); 12-point Times New Roman; double spaced; and page numbering. . Please be sure to answer the entire question to receive maximum credit for this task. • Use and include information from the weekly course content and outside sources to support the conclusions contained in the paper. • Be cognizant of spelling, punctuation, and grammar. • All sources should be cited in proper APA format (in-text citations and a reference list). This task is due on Sunday at 11:59 pm EST. Submission status Attempt number This is attempt 1.
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Running Head: ASSIGNMENT

Types of business ownership
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Running Head: ASSIGNMENT

1. Sole proprietorship
This is a type of a business that is owned by one person called a sole trader. It is kind of a
simplest form of business ownership one can start. The owner has no legal entity with the
business meaning the sole trader is personally responsible for any arising risk (Rober, 2015).
Advantages
The sole trader enjoys the profits alone. The business is owned by one person and therefore
any return from the business is for the sole trader to enjoy alone. The business also encourages a
quick decision making process. This is because the owner makes major decisions regarding his
business. The process of making decisions is usually quick since the owner does not have to
consult anyone. The business is not taxed. The business also requires very little amounts of
capital to start. This makes it possible for most people to afford this business type. The business
is also highly flexible. This is due to its simplicity and the decision making process made by the
owner. The owner can therefore decide to shift from one type of business activity to another one
which is more profitable. The business also requires little legal requirements to start. That is to
mean it has little business legal and formal requirements.
Disadvantages
This business has got its own disadvantages in that ...


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