--%>
Assignment Help - homework help

Describe proprietorship-partnership and corporation

Briefly describe the terms proprietorship, partnership, and corporation.
A proprietorship is a business owned by one person.

  • Two or more people who join together to develop a business make up a partnership. It can be done on an informal basis with no a written partnership agreement or a contract can spell out the rights and responsibilities of each one.
  • A restricted liability company is a hybrid among a partnership and a corporation. Profits & losses pass through to the members. Generally, Members enjoy restricted liability.
  • Corporations are legal entities split from their owners. To build a corporation, the owners indicate the governing rules for the running of the business in a contract termed as the articles of incorporation. They submit the articles to the government of the state wherein the corporation is created, and the state issues a charter which creates the separate legal entity.

   Related Questions in Finance Basics

  • Q : Question on hypothetical economy Normal

    Normal 0 false false

  • Q : What do you mean by the term Year of

    Year of Appropriation (YOA): It refers to the initial year of an appropriation.

    		•
  • Q : Example-implicitly-weighed marginal

    Cite three example of recent decisions which you made in which you, at least implicitly, weighed marginal costs & marginal benefits.

    		•
  • Q : Better risk measure in evaluating risk

    Why is the coefficient of variation a better risk measure to employ than the standard deviation while evaluating the risk of capital budgeting projects? The coefficient of variation is a better risk measure than the standard deviation alone sinc

    		•
  • Q : Explain Workload Budget Workload Budget

    Workload Budget: Workload Budget means the budget year cost of presently authorized services, adjusted for modifications in caseload, enrollment, population, statutory cost-of-living adjustments, one-time expenditures, chaptered legislation, full-year

    		•
  • Q : Explain Conference Committee Conference

    Conference Committee: It is a committee of three members (that is two from the majority party and one from the minority party) from each house, appointed to gather and resolve differences among versions of a bill (example, when one house of the Legisl

    		•
  • Q : How are financial trades made on a

    How are financial trades made on a planned exchange?Each of exchange listed security is traded at a particulate location on the trading floor called the post. The trading is supervised through specialists who act either as brokers (bringing toge

    		•
  • Q : What are Federal Funds Federal Funds :

    Federal Funds: For legal basis budgeting purposes, categorization of funds into which the money received in trust from an agency of the federal government will be deposited and finished by a state department in accordance with state and/or federal rul

    		•
  • Q : Advantages and disadvantages of working

    Describe the advantages and disadvantages of the aggressive working capital financing approach? An aggressive working capital financing approach generally results in a lower cost of funds for a firm however a higher level of risk.

    		•
  • Q : Define Spot Bill Spot Bill : It is an

    Spot Bill: It is an introduced bill which makes non-substantive modifications in a law, generally with the intent to amend the bill at a later date to comprise substantive law modifications. This procedure gives a means for circumventing the deadline

    		•