Worksheet-Pros and Cons of the Forms of Business Ownership (1)

Which business vehicle(Company or partnership) you will adopt if you are to set up a business and give reasons to support your choice.

In your words, explain special types of Business ownership. Also, explain when and why would you want to choose each one of them. In what situation you might want to change the ownership from one form to another?   *Please type don't write

You have reviewed creative ownership as a key principle through your reading. In this Journal investigate one special business relationship and answer the following questions: What is the name of this special relationship? What is the legal significance of the relationship? How is the relationship formed? What are some of the positives and negatives surrounding this relationship?

what student learns about The Accounting Cycle Advanced Accounting for Assets Partnerships and Corporations Financial Analysis and Decision Making

Business Market TRUE/FALSE For a Sole Proprietorship, business profits and losses are reported on the owner's individual tax return. True False Question #11 Q Search Relevant Course: Small Business Market - Business L Ra

A concept of accounting that indicates that the financial records of the business should be kept separate from the personal financial records of the business owner is the ________________________. Group of answer choices business entity concept cost concept proprietorship concept asset concept

Directions: Using the the forms of business organizations listed, complete the staterments beloe. Write the letter of the tem you have chosen in the space provided. S. Sole Proprietorship P. Partnership с. Сoгрогation 0. Owned by a single individual 1. Often formed when the need for capital is greater than one person can invest 2. Must have a charter to operate as an organization 3. Usually enters into a written legal agreement before operating the business 4. Owners share in the risks and the profits 5. Advantages related to its freedom of operations and simplicity 6. A form of business organization used by large accounting firms 7. Recognized by law to have a life of its own 8. Shares of stock represent an individual's investment and percentage of ownership 9. May have to follow more regulations and pay higher taxes 10. Success or failure of the business depends heavily on the efforts of the owner PART C Entrepreneurship. Directions: Read cach of the following statements to determine…

Which form of business organization is characterized by having the shortest start-up time and lowest legal costs? Select one: a. partnership b. S-corporation c. proprietorship d. corporation

Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition:

The primary purpose of what type of business is to serve a particular need in the community? A. for-profit B. not-for-profit C. manufacturing D. retail

Q: Compare the characteristics of organizational and legal forms of enterprises: Criteria The organizational and legal form Individual entrepreneur Economic partnership (LLC) Economic society (JSC) Simplicity of the creation       Control over the activities                   Liability of the owners           Investment Liquidity*       Period of existence

Match each form of business organization with its description. Business Organizations Descriptions 1. Sole proprietorship a. Business owned by two or more persons. 2. Partnership b. Entity legally separate from its owners. 3. Corporation c. Business owned by a single person.

1. A friend asks you to help them organize and establish a business corporation to be based in Kabacan. A. What is the title of a document will you prepare? B. To what office and place would you advise they submit the said document for processing? C. From what code/law will you base the form and substance of the above named document?

An information system that provides reports to stakeholders about the economic activities and condition of a business is called _______________________. Group of answer choices communication networking financial statements accounting

What  are business transactions called that increase owner’s equity as a result of providing a services or selling products to customers? Group of answer choices revenue expense liability asset

Which of the following is not considered a stakeholder of an organization?A. creditorsB. lendersC. employeesD. community residentsE. a business in another industry