LEGL chapter 14 redo Flashcards
1
Q
what are the considerations to creating a business?
A
-timing
-offer
-managerial decision of control
-cost of creation
-continuity of the organization
2
Q
what are the types of businesses?
A
- general partnership
- limited partnership
-corporation
-sole proprietorship
3
Q
what is a sole proprietorship ?
A
one single owner of the company, can still employ others
4
Q
what are the pros of a sole proprietorship?
A
- least expensive
- control everything
- not taxed as an organization
