Understanding Business
Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 5, Problem 3CT
Summary Introduction

To critically think about: The partner is required to start the business or not and skills needed in the partner.

Introduction:

Graphic designer is the one who communicates the ideas through visual concepts that inform, inspire and attract customers. Graphic designers develop the overall layout and production designs for the advertisements, magazines and corporate events.

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If you are to create a company/business, what form of business will it be?
1. Setting Up a Business Your friend, Olivia Graves, is going to start her own chocolate shop, called Chocolate-By-Design. Olivia is an expert candy maker and one of the city's top pastry chefs. Olivia has come to you for advice on what type of business Chocolate-By-Design should be-a sole proprietorship, partner- ship, or corporation. Create a report comparing the three different types of businesses, along with your recommendation for Chocolate-By-Design's business structure.
In order to qualify as a partnership, how many participants must hold a partnership interest?   (A) Two or more with an interest of more than 5%. (B) One partner with more than a 50% interest. (C) Two or more with any amount of interest. (D) Three or more.
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