QS 1-5 (Algo) Identifying attributes of businesses LO C2 Complete the following table with either a yes or no regarding the attributes of a proprietorship, partnership, corporation, and limited liability company (LLC). Proprietorship Partnership Corporation LLC Attribute Present 1. Limited liability 2. One owner allowed Unlimited (Indefinite) 3. life

Q: Association of two or more persons to carry on, as co-owners, a business for profit is known as: a.…

A: Business organization refers to any organization which is formed to carry out the commercial…

Q: Question Content Area Which of the following is true regarding a limited liability company?…

A: For starting or organisation of business, several business forms can be used. These can be sole…

Q: Partnerships and​ proprietorships: Question content area bottom Part 1 A. are separate legal…

A: A partnership is an agreement between two or more individuals to manage a business and share its…

Q: Question 10 All of the following are characteristics of a corporation, except: has one or more…

A: corporation - the corporation is a business entity, which is owned by the shareholders and managed…

Q: What is a business owned by one individual called and the easiest legal form of business to organize…

A: Solution: Limited liability company, partnership and corporation needs more than one individual to…

Q: Which sentence is not true? Select one: a. In Partnership, the ownership divided into shares of…

A: Partnership: Minimum Two number of members required to form a business called Partnership.

Q: . Discuss a sole proprietorship as a form of business organization. Give 1 advantage and 1…

A: Sole proprietorship refers to the concept of which explains an entity that is owned by a single…

Q: Types of business ownership that exist in Canada include:   Question 9 options:   Partnerships…

A: Partnership refers to two are more individuals working towards a common goal and earn profits out of…

Q: Notes: Each group is required to use other related partnership business information unique to each…

A: While preparing the current a/c of the partners, all the items which do not form part of the capital…

Q: A business that is the business owner, not a separate entity: Question 15 options: Sole…

A: Analyzing the options:Option A. Sole ProprietorshipBusiness Owner as the Sole Entity: In a sole…

Q: What are 4 types of partnertships in business and the advantages and disadvantages.

A: Partnership: Partnership is a form of business organization in which two or more than two…

Q: A legal entity with several corporate features, such as limited liability, an unlimited life span,…

A: B-Corp While B-Corps have a few comparable elements to cooperatives, similar to an emphasis on…

Q: Which of the following forms of business organization formats does not offer at least some liability…

A: Proprietorship, general partnership, limited liability company (LLC), and corporation are all forms…

Q: For the three major forms of business, LLC, partnership, and corporation, discuss two advantages and…

A: Limited Liability Company (LLC) is a corporate form of business in which the personal assets of…

Q: Before starting a owners agree to a contract that details each owner's responsibilities, financial…

A: A partnership is a type of business structure in which two or  further  individualities(  mates)…

Q: Determine whether each describes a sole proprietorship, a general partnership, or a corporation.…

A: The answers are provided below:

Q: What type of Partnership as a business formation would be best suited for a "Silent Partner"…

A: General Partnership- This is the kind of partnership where two or more agrees to run a business. In…