0
What often happens when the owner of a sole proprietorship a.) the partner takes over the company b.) the government takes over the business c.) the business closes down d.) the business changes names?
Wiki User
∙ 8y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the biggest advantage of incorporating your business?
There are many advantages to incorporating your small business, but limited liability is one of the biggest advantages. When you have sole proprietorship to the company all the liability of the company is on the owner. When incorporating the business, your only liability is to however much you invest in the company. With sole proprietorship, all of your personal belongings, such as car and home, can be turned over to help pay the debt of the business. As a shareholder in the business, you have no responsibility whatsoever for the debts of the business, that is of course unless you give a guarantee.
What are the 4 main business types?
C-Corporation S-Corporation Limited Liability Company (LLC) Sole Proprietorship
What types of business structures are there?
There are several types of business structures. Some of these include: General Partnership, Limited Partnership, Limited Liability Company and Sole Proprietorship.
What does lcc firm mean?
LCC firm refers to a business company or organization which has the characteristics of a partnership and a corporation. It does not matter whether the partnership is a sole proprietorship or not.
How you calculate gratuity amount working in a sole proprietorship company?
i am working for last 7 years in a proprietorship company, how much i can get the gratuity amount and what is law?
Difference between sole proprietorship from partnership and company?
sole proprietorship is a type of business in which only one person controls the business and manages all other activiteis of business no legal restrictions on this type of business where as partnership and company has legal entity of their own
What kind of company qualifies as a sole proprietorship?
A sole proprietorship is a type of business entity that is owned and run by one individual. This means there is no legal distinction between the owner and the business.
What is a sole proprietorship company?
A form of business organization in which an individual owns the entire enterprise
Is company a sole proprietorship?
A form of business organization in which an individual owns the entire enterprise
What are the classifications of business?
1 - Sole Proprietorship 2 - Partnership 3 - Joint Stock Company
What is initial cost?
An initial investment is the amount of money a company, business, franchise, partnership, or sole proprietorship starts out with to expand their company or business in the beginning.
What are the three categories in business?
Following are three catagories of business: 1 - Sole proprietorship 2 - partnership 3 - Corporation or joint stock company
What is the types of business that is the easiest to form?
The easiest form of business organization to start and stop is the limited liability company. sole proprietorship. corporation. partnership.
What is the biggest advantage of incorporating your business?
There are many advantages to incorporating your small business, but limited liability is one of the biggest advantages. When you have sole proprietorship to the company all the liability of the company is on the owner. When incorporating the business, your only liability is to however much you invest in the company. With sole proprietorship, all of your personal belongings, such as car and home, can be turned over to help pay the debt of the business. As a shareholder in the business, you have no responsibility whatsoever for the debts of the business, that is of course unless you give a guarantee.
What are the 4 main business types?
C-Corporation S-Corporation Limited Liability Company (LLC) Sole Proprietorship
What types of business structures are there?
There are several types of business structures. Some of these include: General Partnership, Limited Partnership, Limited Liability Company and Sole Proprietorship.
What is a Sole Proprietorship Firm?
Want to register your sole proprietorship firm? Get your sole proprietorship company registration today from best company registration consultants. Click here to know all about the sole proprietorship firm, its benefits, documents required, and the process.
