BA350 Week 1 Assignment A+ Promised

Feb 3rd, 2012
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BA350 Week 1 Assignment A+ Promised

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1.1 a. A proprietorship is owned by a single individual, who has unlimited liability for all the losses and debts of the business. A partnership is similar to a proprietorship, except there are two or more people who own the business and have unlimited liability for all the losses and debts of the business. A corporation is an independent legal entity in its own right, and owners/ shareholders are liable for the losses and debts of the corporation to the extent of their investment. b. In limited partnerships, limited partners do not take an active role in the business and are thus shielded fr

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