Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Question
Chapter 5.3, Problem 8TP
Summary Introduction
To determine: The reason for which many of the new businesses choose limited liability company (LLC)” form of ownership.
Introduction:
The Company where the liability of the owners are extended only up to the capital invested by them is known as the limited liability companies.
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Chapter 5 Solutions
Understanding Business
Ch. 5.1 - Prob. 5.1AQCh. 5.1 - Prob. 5.1BQCh. 5.1 - Prob. 1TPCh. 5.1 - Prob. 2TPCh. 5.2 - Prob. 5.2AQCh. 5.2 - Prob. 1MEDCh. 5.2 - Prob. 3TPCh. 5.2 - Prob. 4TPCh. 5.3 - Prob. 5.3AQCh. 5.3 - Prob. 5.3BQ
Ch. 5.3 - Prob. 5TPCh. 5.3 - Prob. 6TPCh. 5.3 - Prob. 7TPCh. 5.3 - Prob. 8TPCh. 5.4 - Prob. 5.4AQCh. 5.5 - Prob. 5.5AQCh. 5.5 - Prob. 5.5BQCh. 5.5 - Prob. 5.5CQCh. 5.6 - Prob. 9TPCh. 5.6 - Prob. 10TPCh. 5.6 - Prob. 11TPCh. 5 - Prob. 1CTCh. 5 - Prob. 2CTCh. 5 - Prob. 3CTCh. 5 - Prob. 4CTCh. 5 - Prob. 1DWSCh. 5 - Prob. 2DWSCh. 5 - Prob. 3DWSCh. 5 - Prob. 4DWSCh. 5 - Prob. 5DWSCh. 5 - Prob. 1TITCh. 5 - Prob. 2TITCh. 5 - Prob. 1VCCh. 5 - Prob. 2VCCh. 5 - Prob. 3VC
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- What is joint stock company and what are its characteristics?arrow_forwardAmong the three types : Sole Proprietorship Partnership Corporation What is the best type of business organization?arrow_forwardWhat are the legal requirements and considerations for forming a business entity, such as a corporation or a partnership?arrow_forward
- Every organization is formed into an entity of some sort, and is usually done to protect individuals from liabilities connected with business operations. If you were starting your own business, which entity formation would you use--sole proprietorship, partnership, LLC, or corporation? Why? Which entity formation would you never use? Why?arrow_forwardWhy most large businesses are organized as corporations?arrow_forwardwhat forms of funding is needed to form a Limited partnership?arrow_forward
- Differentiate between partnership and sole proprietorship form of business. Explain briefly, in your opinion which form of business is better?arrow_forwardHow are LLCs and LLPs related to the other forms of organization?arrow_forwardIs a limited partnership more likely or less likely to have a partnership agreement than a general partnership?arrow_forward
- The needs of the businessperson starting a new business are a major consideration when deciding the best form of business ownership. The kind of business being started is also important to consider when deciding to make your new business a sole proprietorship, partnership, or corporation. Look at the list of new businesses below. , indicate the form of ownership you think would be best for each business and give the reasoning for your selection.arrow_forwardWhat are the main differences between private limited company and public limited company?arrow_forwardWhat are the key differences between sole proprietorships, partnerships, and corporations in terms of ownership structure and management responsibilities?arrow_forward
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