--%>
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 : Rate of inflation Normal 0 false false

    Normal 0 false false

    		•
  • Q : Influence of working capital in the

    How and why does working capital influence the incremental cash flow estimation for a proposed large capital budgeting project? Describe. Several large projects need additional working capital. This investment in additional working capital bec

    		•
  • Q : Externally held public debt and

    Normal 0 false false

  • Q : Explain Budget Bill Budget Bill : The

    Budget Bill: The legislation symbolizing the Governor’s proposal for spending authorization for the subsequent fiscal year. The Budget Bill is all set by the Department of Finance and submitted to each house of the Legislature i

    		•
  • Q : Which ratios would long-term bond

    Which ratios would a potential long-term bond investor is most interested in? Describe. Current & potential lenders of long-term funds, such like banks & bondholders, are interested in debt ratios. While a business's debt ratios rise sig

    		•
  • Q : What are the Changes in Authorized

    Changes in Authorized Positions (“Schedule 2”): This is a schedule in the Governor’s Budget which reflects staffing changes made following to the adoption of the present year budget and enacted legislation. This planned document modi

    		•
  • Q : Describe free cash flows Describe "free

    Describe "free cash flows?" It represents the total cash flows from business operations which are obtainable to be distributed to the suppliers of a firm's capital each year either within the form of interest to the debt holders, or dividends to

    		•
  • Q : Explain accepting or rejecting of

    For a specified IOS and MCC, how do financial managers decide which proposed capital budgeting projects to accept, and which to reject? For a specified IOS and MCC, all independent projects that plot on the IOS above the MCC are accepted. Those

    		•
  • Q : Describe annuity Normal 0 false false

    Normal 0 false false

  • Q : Major effects of this price floor

    Normal 0 false false