May 28th, 2015
Studypool Tutor
Price: $10 USD

Tutor description


Word Count: 845
Showing Page: 1/5
Memo to Mr. Baku & Mr. HansonACC 201To: Mr. Baku & Mr. HansonFrom: Re: Partnership vs. CorporationDate: March 3, 2011Mr., Baku and Mr. Hanson,This letter is to inform you of the organization forms you are considering for your new business. You have already concluded that the organizational forms you are considering for your business will be making it a partnership or corporation business. Either of these forms would work for you company. In order to make the best decision for your business, its goals and expectations it is best for you to know all the advantages and disadvantages of each of these choices. The first organizational form you are considering is the partnership form. This form allows for two or more people to share talent, capital, risks and rewards of the business ownership. Normally, this form is between two people, but it can be with more than 2 persons. With this form authority, responsibilities, risk and profits will be disbursed even for all that are involved in ownership. This can be done by the owners themselves or it can be drawn up by a hired attorney. The advantages to choosing such an organizational form would be that there are fewer laws that regulate the flow of the operation process. The management is mostly done by the owners and there is no double taxation. As with any option there are disadvantages too. The disadvantages that you should consider would be that owners are personal liable for actions that ta

Review from student

Studypool Student
" Good stuff. Will use again. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1830 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors