UNDERSTANDING BUSINESS (LL)
UNDERSTANDING BUSINESS (LL)
13th Edition
ISBN: 9781264632046
Author: Nickels
Publisher: MCG
bartleby

Concept explainers

Question
Book Icon
Chapter 5, Problem 1DCS
Summary Introduction

To discuss: The cost to start sole proprietorship, partnership, corporations and franchise; hours of work of these businesses and specific benefits attached with it.

Introduction:

When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise. Chartered legal entity that has separate liabilities from the owner and authority to act is known as corporations.

When several people pool their resources to work together and have mutual interest and gains and such business is owned and operated by the user of the business, it is known as cooperative.

When the business is managed and owned by a person single handedly, it is known as sole proprietorship.

Blurred answer
Students have asked these similar questions
Can you guys help me with this? Thank you! Please summarize the case of McDonald's success in China, including how PESTEL analysis goes along with the situation. Here are the videos to help to provide some ideas to summarize the case: Why McDonald's Is Thriving In China from CNBC McDonald's in China | Inside China from CNBC International News
Can you guys help me with this? Thank you! Please summarize the case studies of KFC in China, including how PESTEL analysis go along with the situation. Here are the names of the videos that provide ideas to summarize the case: 1. Why China Loves KFC from Business Insider 2 How China Became KFC's Most Important Market from CNBC
Not use ai please
Knowledge Booster
Background pattern image
Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning