You come across different kinds of businesses every day. The following table describes some businesses. Using the description of each business, classify it as a sole proprietorship, a partnership, a corporation, or a limited liability company/limited liability partnership. Business Scenario Type of Business Christopher started a tutoring website. After a few months, a publishing company filed a lawsuit against his company for copyright infringement. Christopher had to shut down his business and lost all his personal assets in the process. Purple Consulting has five consultants in the firm. The company’s annual revenue is around $500,000. Income is distributed among all consultants, and each is personally liable for claims if the company goes under. Nicholas, the CEO of a beverage company, is required to certify the accuracy of information provided in the company’s quarterly reports. Paradigm Media is a company run by a group of new media professionals. The owners of the company do not have any personal liability and file taxes based on individual income.
You come across different kinds of businesses every day. The following table describes some businesses. Using the description of each business, classify it as a sole proprietorship, a partnership, a corporation, or a limited liability company/limited liability partnership. Business Scenario Type of Business Christopher started a tutoring website. After a few months, a publishing company filed a lawsuit against his company for copyright infringement. Christopher had to shut down his business and lost all his personal assets in the process. Purple Consulting has five consultants in the firm. The company’s annual revenue is around $500,000. Income is distributed among all consultants, and each is personally liable for claims if the company goes under. Nicholas, the CEO of a beverage company, is required to certify the accuracy of information provided in the company’s quarterly reports. Paradigm Media is a company run by a group of new media professionals. The owners of the company do not have any personal liability and file taxes based on individual income.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You come across different kinds of businesses every day. The following table describes some businesses. Using the description of each business, classify it as a sole proprietorship, a partnership , a corporation, or a limited liability company/limited liability partnership.
|
Business Scenario
|
Type of Business
|
|---|---|
| Christopher started a tutoring website. After a few months, a publishing company filed a lawsuit against his company for copyright infringement. Christopher had to shut down his business and lost all his personal assets in the process. | |
| Purple Consulting has five consultants in the firm. The company’s annual revenue is around $500,000. Income is distributed among all consultants, and each is personally liable for claims if the company goes under. | |
| Nicholas, the CEO of a beverage company, is required to certify the accuracy of information provided in the company’s quarterly reports. | |
| Paradigm Media is a company run by a group of new media professionals. The owners of the company do not have any personal liability and file taxes based on individual income. |
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