Forms of the Business Organizations: A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows: • Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio. • Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue. • Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person. To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case .

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Answer 1

Question

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

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Answer 2

Question

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

Expert Solution & Answer

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Answer 3

Question

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

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Answer 4

Question

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

Expert Solution & Answer

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Answer 5

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

Answer 6

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

Answer 7

Chapter 12, Problem 2E

To determine

Concept Introduction:

Forms of the Business Organizations:

A business can be formed into any of the business organization types like, Partnership, Sole proprietorship, Corporation, Limited Liability Partnership (LLP), Joint ventures etc. Some basic forms are explained as follows:

• Partnership: Partnership is one of the types of business origination. Under the partnership, two or more individuals agree to form a business together and share losses and profits in the predetermined ratio.

• Corporate form: Corporate form is the most complicated and wider form of business organization. It creates a separate legal identity of the business and allows the business to raise funds through public issue.

• Sole proprietorship: Amongst all of the business organization forms, a sole proprietorship is the simplest form. Under a sole proprietorship, the business is owned and controlled by a single person.

To determine: The form of business organization, tax liability and one advantage of the form of business organization for the owner for each of the given case.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 12 - Prob. 1DQ Ch. 12 - Prob. 2DQ Ch. 12 - Prob. 3DQ Ch. 12 - Prob. 4DQ Ch. 12 - Prob. 5DQ Ch. 12 - Prob. 6DQ Ch. 12 - Prob. 7DQ Ch. 12 - Prob. 8DQ Ch. 12 - Prob. 9DQ Ch. 12 - Prob. 10DQ

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