--%>
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 : Purchasing power parity of US and

    Under what condition would the U.S. dollar and the Canadian dollar said to be have achieved purchasing power parity? The U.S. dollar and the Canadian dollar would be assumed to have achieved purchasing power parity while the exchange rate reflec

    		•
  • Q : Governments fiscal policy options for

    Normal 0 false false

  • Q : Equilibrium price level and level of

    Normal 0 false false

  • Q : Are there security and soundness

    Are there security & soundness implications of mergers?No. All mergers needs regulatory approval and are subject to intense examination through regulators. If anything, the influence on safety and soundness is in general positive, as mergers

    		•
  • Q : Describe the role of a broker in

    Describe the role of a broker within security transactions? How are brokers compensated?Brokers handle orders to purchase or sell securities. Brokers are agents who work in support of an investor. While investors call with an order, brokers work

    		•
  • Q : What is an Agency Agency: It is a legal

    Agency: It is a legal or official reference to a government association at any level in the state organizational hierarchy. Or Government organizations belong to the highest sta

    		•
  • Q : Riskiness of portfolio with very low

    What happens to the riskiness of portfolio if assets along with very low correlations (even negative correlations) are combined? How successfully diversification decreases risk based on the degree of correlation among the two variables in questi

    		•
  • Q : Define the term Judgments Judgments :

    Judgments: It is generally refers to decisions made by courts against the state. The payment of judgments is subject to a range of controls and procedures.

    		•
  • Q : What is Fingerprint biometrics

    Fingerprint biometrics has basically three main application ground: Large-scale Automated Finger Imaging System for law enforcement Fraud prevention in entitlement programs Access control for facilities or computers.

  • Q : Describe the role of cash and of

    Describe the role of cash and of earnings while a corporation is deciding how much, if any, cash dividends to pay to common stockholders. In the long-run earnings are essential to maintain dividend payments; however at the time an actual dividen

    		•