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QUESTION

Business Formation" Please respond to the following:Use the Internet or Strayer online databases to research two (2) businesses that are formed differently (i.e., corporation, limited partnership, li

Business Formation"  Please respond to the following:

  • Use the Internet or Strayer online databases to research two (2) businesses that are formed differently (i.e., corporation, limited partnership, limited liability partnership, limited liability company, sole proprietorship). 
  • Then, determine at least two (2) 
  • advantages and two (2) disadvantages of the partnership business formation. Provide relevant examples of each to support your response.
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ANSWER

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******* **************** NameName ** *** UniversityDateLegal ************* ProprietorshipSole ************** ** ****** ****** ** *** ***** **** of ***** ********* ** **** **** of ******** ***** ** only one person involved *** ** the **** ****** *********** just **** * ****** person army ***** ** no ******* for ************ *** this type ** ************* ** *** ******* of *** ******** ownership ** *** country *** ***** ** minimum requirement **** the person ***** ** ****** They can ****** ****** any requirement ******* taking *** ******* *** the **** ****** taxes **** to ** ***** according ** *** law ***** ******** ******** *************** ** *** ****** **** of ***** ownership ** the ******* ** **** ownership ***** is * *********** *** **** than * ****** unlike **** ************** Each ******* ********** **** *** ******** ** responsible *** *** ****** functioning ** the business *** any ****** or **** ** the ******** *** ** ** borne ** *** ** **** ****** ** ** stated ** *** *********** **** type ** ********* *** *** ******* ******** *** ** *** ** ***** any ******* ****** ** the ******** This ** ********** different **** ***** ***** ** businessesThere *** defined ****** *** all *** ***** of ******** ******** in *** ******** *** hence no *** can go beyond *** **** *** ** **** ******** ***** ** ** ***** *** other ******* *** **** them ** *** business It ** more ** ***** ******** *************** ********* CompanyThis is the third type ** ********* as ****** ** *** *** ** *** United ****** **** is ********** different **** the earlier *** ***** of ******** *** ****** reason is that *** *** partners in **** ********* **** * ****** ***** ** the *** in **** of *** negligence ** any ***** ******* This **** ** ********** ** the ******** ** *** provided ** *** *** ** **** of *** ***** ******* ************* *** partners are not general ******** *** * ********** ******* *** ** ***** **** ********** ** **** ************************ ** *** ***** type of ownership ** *** ****** ****** ** ******* * *********** is ********** * different ****** *** is recognized ** *** *** as ** independent entityThere has **** ******* *** **** for *** *********** *** it ** ********* for *** *********** ** follow all **** ** ******** This **** of ********* *** *** ********* ***** ** ******** to *** ******* ***** and has *** **** ********************* ************** ***************** ****************** ********* ******* ********************** of ************ or moreOne ** ********************* *************************************** ********** *** unlimited liabilityPartners **** ********* **************** ****************************** *** *** ********* *********** *** *** ***** ** *** ********************** RequirementsNext ** **** ***************** *** ********** few ***** **************** ****** ** requirementsFormal board ** ********* annual ******** *** ****** reporting ********************** ********** *** **** ******* of ********** *** ****************** **** full control over ********** *** ***************** have an ********* ********* that ******** *************** ** Directors ****** ** *** management *** ***************** ************* ** ***** individuallyIt ** not * taxable ****** Each ******* **** *** on ******* ***** ** income and can deduct losses against ***** sources ** incomeTaxed ** *** ****** ******* ** ***** ** *** entity ***** If ********* *** distributed ** ************ **** *** **** ***** at *** individual **************************************************************************************************************************************************************************************************************************************************************************************************************************************************

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